what is a comp in real estate

Best answer

Comparable sales

People also ask

  • What is a comp when selling a house?

  • A comp, which is an abbreviation for comparable sale, is a recently sold home in your area that similar to your home in location, size, condition and features. How sellers use real estate comps Sellers, especially those selling for sale by owner (FSBO), use comps to determine the right listing price for their home.

  • What are comps?

  • What Are Comps? Understanding a Key Real Estate Tool What Are Comps? Understanding a Key Real Estate Tool Whether you’re buying or selling a home, comparing similar homes can yield a wealth of helpful information. omps,?or comparable sales, is a term anyone on either side of a real estate transaction should know well.

  • What are real estate comps and why are they important?

  • It a collection of nearby comps, put together to help an agent and seller decide on a good listing price. Savvy real estate agents regularly run comps (even when not tied to one particular deal) to keep an eye on their local market and gauge overall trends. How to find real estate comps

  • How do you find comps in real estate?

  • How to find real estate comps. Sellers have two options for finding comps: hire an agent to guide them through the research and pricing process or find comps on their own. Here is how the process works for both options. The local MLS is usually the best source of comparable home sales, because the information tends to be the most accurate.

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