Compared To What? Understanding Real Estate Comps
In real estate parlance, the term "comps" stands for comparable. It's a way to find out what similar homes in a given area have sold for recently. Buyers, sellers, and real estate agents depend on the results of the research that goes into a comp price so read on to better understand what is being compared when a comp is performed. How Comps Are Used If you are selling your home, contact a real estate agent and they will provide you with a comp once they do a bit of research.