what are comps?
'What Are Comps?': Understanding a Key Real Estate Tool âComps,â or comparable sales, is a term anyone on either side of a real estate transaction should know well. It refers to homes located in the same area and very similar in size, condition and features as the home you are trying to buy or sell. Buyers look at comps when deciding what price to offer on a home, and sellers use them to figure out how to best price their home for the market. Real estate agents look at comps all day long as a way to keep on top of their local market.