Industry News

RE/MAX tests property valuation tools

Site offers price range based on comparable sales

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RE/MAX International Inc. is testing a free property-valuation tool at its Web site that is based on a comparison with similar home sales in the same neighborhood. The valuation tools do not provide an estimated value for a specific property, though they provide a price range based on the sale price of comparable properties. Many other Web sites offer online home valuations, too, including,,, and, among others. In beta testing since August, the RE/MAX tools offer a comparison of the five closest home sales in a given area and a price trend analysis for the surrounding area. Consumers can also choose to receive a Neighborhood Valuation Report that includes sale prices, school information and demographic data for the surrounding neighborhood. Data for the valuation tools are compiled from home sales nationwide and aggregated from a variety sources, including county courthouse deed transactions. The data...