What Are Real Estate Comps? In real estate, comps are similar homes in your area that have sold relatively recently- that is the most straightforward definition. The more the comparable properties share in common with the seller’s house, the better. Real estate agents refer to these as “so...
On the other hand, when you're buying a home, the last thing you want to do is overpay. This is where "comps" come into play. Real Estate comps are comparable properties that have recently sold in your general area. The value of a home is determined by looking at several factors incl...
All it takes to find appropriate real estate comps is a little bit of research. Here’s how to go about it in four easy steps: 1. Understand your home’s specs To find appropriate comps for a house — whether it’s one you want to sell or want to buy — your first step is to ...
The seller pays the real estate agent’s commission in most real estate transactions. The seller paying makes a lot of sense because the home sale will produce a big payout for the seller, and the seller’s agent has to do a lot of work to make that sale happen. ...
Real estate is changing every day. From new consumer expectations and changes in technology to an ultra-competitive marketplace, it’s hard to keep up and know where to focus your time, money, and energy.
Wholesaling is like body-slamming your way into the real estate market. You find deeply discounted properties, lock them down with a contract, and then tag in your cash buyer to close the deal—without ever owning the property yourself! You’re the ultimate middleman, connecting motivated seller...
buyers. Historically,real estate agentsresearched comps on their own and took the information back to clients, a process which was sometimes rather opaque. Today, that process has been made much more simple and transparent with the aid of the Internet, allowing people to investigate comps on ...
s long enough to give you a broad view of how the local market is performing without going too far back in time. You can find comps on the Multiple Listing Service (MLS). But if you’re not a real estate agent, you can also find comps on Zillow or at a local tax assessor’s ...
We’re not saying that to be an expert, you have to turn into an obnoxious know-it-all. But as a real estate agent, you never know when you’re going to need to impress someone or answer a question or offer advice. It helps to have real data at your fingertips when you do so....
What Are Comparables in Real Estate? Comparables, or comps, are similar properties located in the same area as a property that is up for sale. These properties allow sellers to estimate the value of their own home or investment property when they decide to put it up for sale. ...