Pricing your home based on comparable homes sold
After you’ve rated your home’s condition (Using Our Guide), the next step is to compare with sold homes that are similar to yours, then make positive and/or negative adjustments accordingly. These homes are what we in the industry like to call “comparables” or “comps”.
What is a comparable home?
The FIRST thing real estate appraisers and realtors will look at are the comparables. These comps should be:
Making Adjustments (Accordingly)
When comparing your home, think as objectively as possible. You need to look at it like you’re selling a house, NOT your home. Take renovations into account only if they add value Make positive or negative adjustments off the following (in order from large-small adjustments).