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Understanding 'Comps' When Selling a Home Have you heard a real estate agent talking about 'comps' or 'comparables' and wondered what the heck it means? Comparables or comps are the terms used for similar homes that have recently sold to help find the best listing price when selling properties. The listing price should encourage buyer interest, reducing the time it takes to sell the home. But finding the right price isn't easy, and making a mistake can cost you a lot. As a real estate agent working on analyzing value, finding the right comparable sales can make or break the
When you are selling a home one of the most essential factors will no doubt be getting a handle on the value. Of course, you can get a ton of differing opinions on value, but the one that will be the most crucial is the one that is accurate.
So, how do you go about getting the right home value? It is all about understanding how real estate comps work. You need to have the right comparable sales and then once you have them interpret the data properly.
Understanding comps is easier said than done. It can take years of practice. Market value can also be a bit subjective. In the article at Maximum Real Estate Exposure, you'll learn everything you need to know about "comps" and "comparables".
Take a look and if you have any questions, feel free to reach out for help on analyzing the value of your property.