How To Comp Properties

Lunch will be served on a first come first serve basis. Arrive early.

Bring your deals and/or listings and we can comp them out together. Too many investors and agents haven’t mastered comping or valuing a property. When you leave this meeting you will 100% be confident on how to comp even the most unique single family residence and/or 1-4 units. We will not be covering apartments or commercial real estate.

When it comes to buying and selling homes, everything is relative. How much should you pay when buying? How much should you ask for when selling? What’s the actual value of a home? The answers all depend on a number of relative factors that vary based on location, time of year, real estate market trends and most importantly, real estate comps.

Simply put, real estate comparables – or “comps” – are comparable properties in a specific area that you’re looking to buy or sell in. Comps are used to determine the value of a home by comparing it to similar properties sold in the same neighborhood or in an area as close as possible to the house being valued.

For example, if you have a three-bedroom, two-bathroom house with 1,500 square feet of living space that you’re thinking of selling, finding homes with similar stats in the same general area is a good way to start estimating your property’s value.

If you’re looking to buy and don’t want to pay too much, finding good comps in the area can help you understand what the home is worth before you make an offer. Real estate comps are all about determining value, which can be useful for a number of different purposes across the various facets of real estate, from buying and selling to investing and making housing market predictions.