Attention Real Estate Sellers – What is your home really worth?
As a real estate seller or real estate buyer you have probably viewed the Z-estimates Zillow or Trulia on their website.
This evaluation is called Automated Valuation Method (AVM). Essentially, it is computer generated software that reaches out for publicly available data and then uses that data to offer a suggested value—a quick result which does not involve a human being who has analyzed the actual data. The soft wear has never been in the neighborhood, nor on that particular street nor inside the home.
Whereas a Realtor’s Broker’s Price Opinion, BPO, is a much more thorough hands-on and accurate process.
In this scenario, the real estate professional, besides being inside of most of the homes offered for sale over years of experience knows about intangible details a computer does not take into consideration: like good light, practical floor plans and quality upgrades—stuff that requires years of a human brain which analyzes the small intricate details as well as the black and white published figures.
Your real estate agent can also extrapolate other data besides selling prices such as the homes that didn’t sell and why or the many price reductions of a property.
A Broker Price Opinion in conclusion is much more accurate than a computer generated AVM as Zillow and Truila use. For an accurate evaluation of what your property is worth you really need to call your local real estate professional.
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Be aware that any clients’ names have been changed to protect their privacy. Furthermore, Paula Pagano does not accept any liability for the content of any Blogs and this Website or for any actions you take or resultant consequences of actions taken based on the information provided in this communication. Any advice is my opinion after being a 35 year experienced real estate agent in San Francisco.