What are "comps" and why you need to ask for them when hunting for an apartment...
A comp is a comparable apartment. You may be familiar with CMA (comparable market analysis.) Although an agent is supposed to know all that stuff, you need to know them too, especially if you're trying to find a great deal on your next apartment.
Simply speaking, a comp is a similar apartment that theoretically speaking should be almost the same price since it has just about the same location, size, characteristics and amenities. When working with an agent, be sure to get the value of the agent's service by making sure that a competitive market analysis has been performed. Asked questions such as:
Don't just be a passive consumer and grab the first unit that comes onto your radar (on the other hand, be aware that good deals get snatched up quickly.) Work quickly to assess the comps get the best apartment you deserve in the end. |
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