Comps

When you buy a house, your agent will probably say that he or she will “check the comps.” Not “check with cops.” You aren’t doing anything wrong.

“Comps” is the short version of the term “comparables.” In real estate, a comp is a similar structure or structures to the one being bought or sold and is used to a certain a fair value range. See Zillow for details.

Their comps are awesome. (They always seem to value your home 20% higher than what any shmuck is willing to pay for it.)

Comps are a method of assessing a comparison value...whether a business or residential property...to derive a ballpark or “apples to apples” valuation.