WHY YOU SHOULDN’T TRUST ONLINE REAL ESTATE PRICE ESTIMATES
It’s fun to enter an address on a website and instantly receive an estimate of what that property is worth. But the data that pow ers many of those automated valuation models is inaccurate and unreliable.
Who says? The websites themselves. Look below to see how popular sites that offer online price estimates describe limita tions with their own data.
“The Zestimate is not an appraisal and you won’t be able to use it in place of an appraisal, though you can certainly share it with real estate professionals. It is a computer-generated estimate of the worth of a house today, given the available data. Zillow does not offer the Zestimate as the basis of any specific real estate-related financial transaction. Our data sources may be incomplete or incorrect; also, we have not physically inspected a specific home. Remember, the Zestimate is a starting point and does not consider all the market intricacies that can determine the actual price a house will sell for.”
“Is a Zestimate an appraisal?” at zillow.com/zestimate
“If you’re looking for a precise value for your home, or if you’re thinking of selling your home, we recommend you talk to a real estate professional. After all, our algorithms are smart, but we can’t know everything about your home’s features and location. Connect with real estate experts in your area.”
“We’re not suggesting that you use our home value estimate in lieu of an appraisal from a trained professional when selling, purchasing, or refi nancing, but it’s the perfect source when you just need a reasonable estimate and you don’t want to wait.”
Use a REALTOR®
For help with price, negotiations, and other parts of your real estate trans
action, a Texas REALTOR” is your best resource. Now that’s a smart move.
TEXAS ASSOCIATION OF REALTORS®
Disclaimers accurate as of June 20, 2016
We have been working in Property Management for over 20 years. We know our market and limit the area we work in as well as the number of properties we take to give you the best service. Market analysis is done where your home is located to make sure it lists in the market of the other homes in the same area, size and quality. We use the MLS to make sure we have all the numbers available to give you a quality price analysis.