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Online Home Evaluation Tools are INACCURATE

I’m going to give you some proof why Home Evaluation tools are inaccurate. There’s no shortage of online tools that will help you calculate the value of your home. But it’s important to keep in mind that pricing your home is more complicated than an online tool can calculate.

I’ll be the first to admit that I check the estimated value on some of these sites….but they can be incredibly inaccurate. When discussing these tools with my clients I often point out that at the time Spencer Rascoff was the CEO of Zillow he sold his Seattle home for 43% lower than what the Zillow Zestimate said. What does that tell you?

I’ve got a fun little assignment for you. Take your address and do a home evaluation on 3 different sites and I guarantee you’ll get 3 different numbers.

Look, it’s ok to use these sites to get a ballpark of the value of your home. But if you want accuracy, you should ask a trusted agent that knows your market to give you a home equity review. A good agent will even go way beyond the algorithms…for example by getting intel from pending transactions that are going to be the most current comparables. An algorithm doesn’t know the market like an experienced agent.

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