Choosing comps for your property isn’t as complicated as it looks. In fact, you probably already have some experience with this. As professional appraisers, we just want to offer our take on the process and hope it is of value to you in selling your home.
What’s a Comp? Comps, or comparables, are properties that are similar enough to your property to be useful for comparison. Selecting the best comps is a straightforward process and requires you to evaluate each property objectively.
To start out, we generally want to look at properties that were recently sold, and those that are currently on the market. The traditional number of comps that appraisers and agents select are three sold and three active listings. You can include more in your own analysis but use that number at a minimum.