Real Estate Comps, Appraisals, and the Occasional Gut Check
Comps have always been one of the most important tools in real estate. They’re how we figure out the right number to list a home for, based on similar recent sales. Sounds simple, right? Well… if you’re selling a cookie-cutter house in a neighborhood where every home looks like the next, it’s fairly straightforward.
But luxury homes? That’s where comps get… interesting.
Why Luxury Homes Break the Comp Mold
Luxury properties are like snowflakes—no two are the same. Sure, you might find some similarities, but every high-end home has unique features that need to be accounted for. Some come with:
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High-end custom fixtures and finishes
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Spray foam insulation and LOW-E windows
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Geothermal systems
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Resort-style pools and pool houses
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Large acreage
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Climate-controlled workshops
And then there are the truly wild ones: bowling alleys, shooting ranges, indoor archery ranges, rock climbing walls, private baseball fields, skate parks, elevators, and yes… I recently heard of a property with its own private 18-hole golf course.
Good luck finding three exact comps for that.
When the Gut Beats the Spreadsheet
While I use comps to get in the ballpark, I’ll be honest—sometimes I rely on something more old school: gut instinct and my own knowledge of the market. I’ve sold enough luxury homes to know when something is special, even if the data doesn’t fully capture it.
A great example: years ago, I had a client building a beautiful luxury home. Just one week before it was complete, he got transferred to another state. He had $1.8M in the house and asked if I thought we could get $2M.
After walking the property, seeing the craftsmanship, and evaluating the lot, I told him, “Hear me out—you might be able to get $3M.” He laughed. “No way. That’s ridiculous.” I told him to trust me.
We listed at $3M and sold for $3,025,000 with multiple offers. That’s what I call a gut check.
The Truth About Appraisals in Today’s Market
Appraisals are a nice piece of paper to have in your file, but today’s buyers often pay based on what they want, not what a bank thinks it’s worth. They’re not as swayed by comps or professional opinions—they’re asking themselves, “Do I want this house? And what am I willing to pay to get it?”
The Agency Advantage
At The Agency, we know how to combine the science of comps with the art of gut instinct. Our network, global reach, and luxury marketing platform allow us to position properties in ways that maximize value—whether that’s finding the perfect buyer for your home with a private golf course, or creating a multiple-offer scenario for a one-of-a-kind estate.
If you’re ready to sell—or just want a second opinion on value—reach out anytime. I’m happy to bring the comps, the market knowledge, and yes… the gut check.
Wyatt Poindexter
The Agency Oklahoma
405-417-5466
Oklahoma City | Edmond | Nichols Hills | Arcadia | Tulsa | Grand Lake | Broken Bow | Carlton Landing
