How buyers use real estate compsīuyers reference comparables to decide how much to offer on a home. Even if you’re selling your home with the help of a real estate agent, you’ll want to be familiar with comps so you can make sure you’re comfortable with the listing price your agent recommends. Sellers, especially those selling for sale by owner (FSBO), use comps to determine the right listing price for their home. ![]() What are comps in real estate?Ī comp, which is an abbreviation for comparable sale, is a recently sold home in your area that’s similar to your home in location, size, condition and features. Read on for more info on comparables, the most important factors and how to identify the most accurate comps for your home. Comparable home sales help sellers and their agents identify an accurate listing price for a home - one that captures more buyers, minimizes time on the market and clears the path for a smooth transaction.
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