Redfin releases home valuation tool

Tech-focused brokerage Redfin has released a tool today that helps users estimate the value of a home by surfacing recently sold comparable homes nearby. The “Home Value Tool” automatically selects two homes, and users select three others that most match the home in layout, square footage and location, among other features, and then the tool returns an estimate of what the home’s worth.

“(Agents) create a list of every home in your neighborhood that sold in the last several months, grab a big red marker, and emphatically start crossing homes out until they’ve got a list of the four or five that are most like yours,” reads the Redfin blog post introducing the tool. “Then they make some small adjustments, take an average, and give you a price.”

Source: Redfin