Many real estate websites such as Realtor.com and Zillow.com are utilizing user friendly online methods for property owners to get an estimated market value for their homes. In a general and limited format, these complex logarithms will supply a reasonable valuation. The margin of error is quite high, however, as the probability of over-homogenization and anomoly deviations can substantially affect an estimate. Experienced real estate brokers utilize an appraisal-like method called a comparative market analysis to specifically define and value tangible and intangible differences and upgrades. It is this hands-on, subjective approach that is necessary to arrive at a true market value. The moral of the story is this: Always consult an experienced real estate broker before pricing your home!
The Myth of AVM's or Automated Valuation Models
Written by Dan Wolk Posted On Thursday, 11 August 2016 11:25
Dan Wolk
Dan began his career in 1986 as one of the pioneers in the discount real estate business model in Central Florida and was one of the top ten real estate agents nationally within the Help-U-Sell Real Estate franchise for four years running. The winning combination of providing top level service with a variable commission structure designed to SAVE consumers thousands of dollars has made him a perennial "thorn in the side" of the big real estate franchise agents for decades! Over the years, Dan developed his own brand of discount real estate that still provides a "sellers choice" commission structure, while also focusing on superior customer service. Since 1986, Dan has added Real Estate Broker, Licensed Real Estate Instructor, Licensed Title Agent and and MBA to his resume, giving him a unique edge other agents simply don't possess. This arsenal of knowledge combined with unparalled problem-solving skills have made the difference for thousands of buyers and sellers for almost 30 years!