Industry NewsTechnology

Trulia rolls out valuation tool nationwide

'Trulia Estimates' lets homeowners add, edit property details

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Online real estate search and marketing firm Trulia is now generating automated property valuations for 50 million off-market homes, using a system that allows homeowners to add or edit property characteristics that can affect values."Trulia Estimates" use an automated valuation model (AVM) that takes into account recent sales information for other homes in the area, and property characteristics taken from public records including the number of bedrooms and square footage.To ensure that only homeowners are making changes to property characteristics that affect "Trulia Estimates," only registered users will be permitted to make edits.Homeowners can also provide feedback on the valuations generated by Trulia Estimates. Trulia says the more data it has, the more accurate Trulia Estimates will be. Screenshot of Trulia Estimates generating a new valuation based on information provided by a homeowner. Trulia's measurements of the tool's accuracy show a good deal of variat...