The approach that takes the current selling prices of similar properties and adjusts these prices for any differences is called the comparative approach.
Comparative approach is the process of comparing items selling prices to one another and distinguishing their similarities and differences. Suppose when a business wants to analyze an idea, problem, or theory, conducting a comparative analysis allows it to better understand the issue and form strategies in response based on it.
A business might conduct this type of analysis in order to analyze things with obvious differences or items with both differences and similarities and come up with proper results.
Hence, this approach checks the similarities and differences between two things to draw a conclusion.
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