Online home valuation tools can be a great starting point for someone to ask, ‘What is my home worth?’
But ultimately, these computer algorithms have their limitations and therefore cannot give a definitive home value for your unique property. You may have read the news about the significant inaccuracies that can be found in Zillow’s Zestimates. NBC news Zillow lawsuit
Therefore, your next step must be to ask an experienced real estate agent to stop by for their free expert opinion. Three benefits that a live agent provides that an online computer algorithm cannot are:
- Eyeballs on the property – to assess the property’s condition first hand.
- Current insight – to factor in any updates, additions, trends, neighborhood dynamics, property line issues. Online tools usually rely on outdated property databases that can be up to 20 years old.
- Consider Comparisons – to determine what similar homes are selling for and the pros and cons of the property relative to other homes in the neighborhood.
These three agent benefits take into account just a few of the factors that have a dramatic impact on how prospective buyers will perceive the true value of your home. That’s why a top rated real estate agent will generally achieve 98% or better for their List-Price-to-Sale-Price ratio. Meaning they are almost always spot on in their professional estimate; whereas, online tools can be off anywhere from 8% to 40%!
So after you get a quick and dirty online estimate of the value of your home, next get a spot-on value from a top real estate agent.
The best place to start is by working with an agent who has been certified by AdvantageU® – Home Sellers’ resource.
If you’re planning to sell your house, you will need a professional real estate agent who knows your local market, has done their homework and has seen your property with their own eyes.
One thing is for certain; your house has a very low chance of selling if you base the listing price primarily on an online estimate. Hire an experienced agent who can set the RIGHT listing price that will get it sold!