Can online home valuations from agents challenge Zestimates?

Progress from Homing In and launch of Real Estimate show crowdsourcing valuations may have potential
  • Services that crowdsource home value estimates from agents may be able to produce more accurate valuations than those typically found online.
  • The likes of Homing In and Real Estimate may be able to generate leads for agents who choose to submit home valuations requested by homeowners through the services.
  • Crowdsourced home value providers face challenges that could limit usage or discredit their valuations.

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One way to produce more accurate online property valuations than what you typically find could be to crowdsource estimates from real estate agents. While such an approach presents considerable challenges, there have been some recent signs that it holds potential. One startup crowdsourcing home value estimates has gained some traction recently, while another just debuted. These services will have to convince agents that producing a valuation for the possibility of a lead is worth their time, and they may struggle to find ways to deter agents from submitting unrealistically high estimates to attract prospective sellers. Homing In Screen shot showing sample list of agent-contributed estimates a Homing In user might see. Homing In, a Las Vegas-based mobile app that has pioneered crowdsourced-home estimates, can point to steady progress. Homeowners who download the mobile app can anonymously submit photos and information on their home to receive an unlimited number of...