"Comps" is short for "comparables," which are properties or items that are similar in characteristics and used for comparison. In real estate, comps help determine the market value of a property by comparing it to recently sold homes in the same area with similar features, such as size, location, and condition. In other industries, such as retail or finance, comps can refer to comparable sales or performance metrics. For example, a company might analyze its sales growth against its competitors to assess its market position. Understanding comps is essential for making informed decisions in buying, selling, or investing.