Every homeowner is curious about the value of his or her most prized investment. It often pops up in conversation at dinner parties and, as personal finance experts will advise, it will play a big part in giving people options in life.
- Berkshire Hathaway HomeServices Fox & Roach's new home valuation tool will give homeowners three different sources on the value of their home.
- The home valuation tool has been launched to give agents leads for listings in the future.
- Homeowners who then sign up to the e-property newsletter will receive monthly updates on recent sales in their area and buyer interest.
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A person doesn’t have to search the Internet long before finding articles about bad real estate agents. The idea of real estate agents routinely underprice real estate for a quick sale is a popular one. And this bad pricing — it’s further proof that real estate agents are dishonest and that the bar needs to be raised.
Zillow built an empire on the foundation of a single innovation: the “Zestimate.” In 2006, the company was willing to offer consumers what real estate brokers wouldn’t: immediate, automated home value estimates without having to contact an agent. Now, the 10-year-old real estate portal is offering homeowners — and therefore, potential sellers — a more nuanced option.
In a world where homebuyers are seeking out instant home valuations and frequently obtaining them on non-brokerage websites — the most popular of which is Zillow’s Zestimate — Seattle-based brokerage Redfin is claiming to have devised the most accurate automated valuation model (AVM) the industry has ever seen. The high-tech brokerage has added home value estimates to property pages on its website that can cover more than 40 million listed and unlisted homes in 35 major metro areas. It cast the “Redfin Estimate” as an important way for the company to maintain a competitive website.
Well, well, well. Real estate used to be all about location, location, location.
It’s safe to say it’s now all about data, data, data. Revaluate leverages its accesses to what I would call an excessive number of public databases to assemble property and neighborhood reports for what is right now, almost any home, apartment or condo in Manhattan and San Francisco.