If you’re starting to sell your house you’ve probably heard a ton about comps. But what is a comp and why does it matter?
Comps are a vital part of the comparative market analysis (CMA) that your agent will do to value and price your home.
When your agent does a CMA, they compare your house to similar homes that are on the market or have recently sold. These are called comparable or comps.
Your agent will compare your house to the comps and analyze their sale prices to see how your local market deals with homes like yours. Then, based on this information, your agent will suggest a price that is tailor-made for the market.
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