Buying a home is one of the most significant financial decisions you’ll ever make.
As part of that journey, you’ll hear a lot about “comps,” or comparable sales, which play a vital role in determining a property’s value. But not all comps are created equal.
Depending on whether you’re talking to a real estate agent or a licensed appraiser, their analysis of a home’s value can vary, sometimes significantly.
In this article, we’ll break down the differences between appraisers and realtors when it comes to comps, explore why those differences matter, and show you how to navigate them like a pro.
Start your homebuying journey with GO Mortgage.What are real estate comps?
In the homebuying world, “comps” refers to recently sold homes that are similar in size, condition, location, and features to the property you’re considering.
These comparable sales help establish a ballpark value for a home so that buyers, sellers, and lenders can make informed decisions.
Why do real estate comps matter?
Analyzing comps can help you:
- Determine a fair offer price
- Identify whether a listing is overpriced or underpriced
- Understand market trends in your target area
- Anticipate potential appraisal issues
You can start by comparing:
- Property type and size: Single-family home vs. condo, square footage, lot size
- Location specifics: Proximity to schools, shopping, public transit
- Sale terms: Cash purchase, seller concessions
- Recency: Ideally, sales within the last 3 to 6 months
Appraiser vs realtor: Why their comps don’t always match
While both appraisers and real estate agents use comps to estimate property value, their methodologies and motivations differ.
Realtors work for you (or the seller)
A seller’s agent wants to secure the best possible sale price for their client. That means their analysis of comps may lean higher, drawing on favorable properties to justify a strong list price.
On the other side, your buyer’s agent is focused on helping you negotiate the best deal, often using comps to support a lower offer.
Agents also consider factors like:
- The current competition
- Buyer demand in the area
- Listing strategy (pricing to spark bidding wars or attract specific buyers)
Their comps may be influenced by subjective criteria such as the perceived curb appeal or “hotness” of a neighborhood.
Appraisers work for the lender
Appraisers, on the other hand, are independent, state-licensed professionals. Their primary responsibility is to the mortgage lender, ensuring the home is worth the amount being financed.
Their process is regulated by guidelines like the Uniform Standards of Professional Appraisal Practice (USPAP) and laws under the Truth in Lending Act.
Appraisers:
- Use more standardized and objective methods
- Must support their valuation with documented data
- Avoid subjective elements not directly tied to market data
That’s why an appraisal may come in lower than the agreed-upon purchase price, especially if bidding wars have inflated the offer.
What happens if the appraisal is lower than your offer?
Low appraisals can cause roadblocks in the buying process.
If the appraised value is below your agreed purchase price, your lender may only approve financing up to that lower amount.
What are your options?
- Negotiate: Ask the seller to lower the price.
- Cover the gap: Pay the difference out of pocket.
- Walk away: If your offer includes an appraisal contingency, you can exit the deal without penalty.
That’s why it’s important to understand both real estate agent comps and appraisal standards before you make a bid.
How can buyers research comps with confidence?
You don’t need a license to understand your local market.
Here’s how to do your own due diligence:
- Ask your agent: A knowledgeable real estate agent should provide a comparative market analysis (CMA) with recent comps tailored to the property.
- Talk to your lender: Mortgage advisors often have a pulse on appraisal trends and local risks.
- Use online tools: Sites like Zillow, Redfin, and Realtor.com let you view recent sales, pricing trends, and estimated values.
- Focus on relevance: Compare homes sold in the last 90–180 days with similar square footage, features, and location.
- Look for appraisal gaps: Ask your agent if properties in the area have recently appraised lower than expected.
Key takeaways: Understanding appraiser vs realtor roles
When you understand who each professional serves and how they operate, you can make smarter homebuying decisions.
Here’s how their roles differ:
Realtors: Advocates and market strategists
- Represent the buyer or seller’s interests
- Provide insights based on current market activity and trends
- Use comps as part of pricing strategy or offer negotiation
- May emphasize best-case scenarios in pricing to drive offers or close deals faster
- Often work with subjective inputs like buyer demand, aesthetics, and local competition
Appraisers: Objective third-party evaluators
- Serve the lender by ensuring a property’s value justifies the loan
- Must follow federal and state guidelines for fair and accurate assessments
- Rely on recent, closed transactions and standardized adjustments
- Avoid personal or market-driven assumptions outside documented data
- Offer an unbiased valuation that influences loan approval
What you should do as a buyer
- Understand both perspectives—realtors and appraisers are not adversaries, but they serve different purposes
- Compare the comps your realtor presents with public data and appraisal results, if available
- Be prepared for discrepancies, especially in fast-moving or highly competitive markets
- Ask questions, do your homework, and stay engaged throughout the process
Having a strong understanding of how appraisers and realtors analyze comps will help you balance optimism with realism and empower you to make better homebuying decisions.
Curious about what happens if your home doesn’t appraise? Check out our guide to appraisal gaps and be prepared before you make an offer.
How GO Mortgage can help you navigate the process
Whether you’re a first-time buyer or a seasoned homeowner, having the right team on your side makes all the difference.
At GO Mortgage, our experienced loan advisors offer local market insight, appraisal guidance, and personalized support every step of the way.
Ready to make a confident home offer? Reach out to our team today to turn your goals into keys in hand.