Do you have Access to do Comparable on your site?

Do you have Access to do Comparable on your site?

What are Comparables (Comps) and How Can I Find Them on Houzeo?

What are Comps?

Comparables, often shortened to "comps," are recently sold properties in your area that share similar characteristics to your own. These properties are used to estimate the fair market value of your home.

Benefits of Using Comps:

  • Pricing Strategy: Comps help you determine a competitive listing price for your property, avoiding overpricing or underpricing.
  • Negotiation Leverage: When selling, comps provide evidence to support your asking price during negotiations.
  • Informed Decisions: As a buyer, comps help you understand the fair market value of a property before making an offer.

    Why Doesn't Houzeo Offer Comps Directly?

    While Houzeo doesn't offer an automated tool to generate comps directly on their website, they recognize their importance in the selling process.

    Here's why Houzeo doesn't offer comps:

    • Accuracy and Complexity: Generating truly accurate and reliable comps requires access to detailed property data beyond what's publicly available. This data often involves paid subscriptions or local market expertise.
    • Oversimplification: Automated comps can be misleading if they don't account for unique features, condition, and market fluctuations. Houzeo emphasizes personalized guidance to ensure a more accurate valuation.

      How to Obtain Comps Through Houzeo:

      While Houzeo doesn't provide automated comps, they offer alternative solutions:

      • Houzeo Blog: Houzeo's blog features an article titled How to Find Real Estate Comps for Your Home which provides a comprehensive guide on manually finding comps in your area.
      • Real Estate Agent Network: Houzeo offers a network of experienced real estate agents who can provide a Comparative Market Analysis (CMA) for a fee. This analysis involves a detailed comparison of your property to similar listings and recent sales, resulting in a more personalized and accurate valuation compared to automated tools.
      • Local MLS: Contact a real estate agent or use an MLS search tool (may require a subscription) to access detailed information about recently sold properties in your area.
      • Public records: Local government websites or public record services might offer access to property sale data, including price and key features.

Additional Tips:

  • When comparing properties, consider factors like location, size, number of bedrooms and bathrooms, major upgrades, and overall condition.
  • Remember, comps are a starting point, and adjustments might be needed based on unique features of your property or current market conditions.
  • Consulting a real estate professional can provide valuable expertise and access to additional resources for a more comprehensive comp analysis.

By utilizing the resources provided by Houzeo and conducting your research, you can effectively leverage comps to make informed decisions throughout the buying or selling process.


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