The Seller's Guide: What Exactly is a "Comp"

Comp's are widely used to determine the value of a home. Mainly used by sellers agents, this is a comparative strategy that compares a home and its specs to similar homes (known as comps) in the area to determine its value. From there, sellers can more accurately decide on a list price. Although we are in a seller's market currently, in a less competitive market buyers may refer to comps to get a better understanding of the value of a property that they are interested in. Learn more in my latest video below: