Several recent studies conclude that nearly 80% of consumers first turn to the internet for information on real estate. More alarming is the fact over 80% of the information consumers find on the internet is wrong! The marketing prowess of Google, Trulia, Zillow, and many others, continues to trump the traditional efforts of real estate professionals to educate consumers. The real estate industry utilizes a price-per-square-foot philosophy, yet the square footage details used to create home values (when taken from public records) are alarmingly inaccurate. This is not new information, yet the trend to use this data continues to grow. Computerized home valuations will always rely on public records and as long as they do, real estate professionals have an advantage that cannot be matched; if they will use it. Accurate property details is what sets Realtors apart from all the mega-internet companies taking over the real estate information business. By getting back to basics, and providing quality property information, consumers will flock back to the real MLS, and the Realtor organization will regain a place of prominence in the real estate info market. We must help consumers understand that no computer will ever, never, ever replace the skill and knowledge of a local real estate professional…
If you are a home buyer or seller, DO NOT trust a computerized valuation service to determine the value of your single, largest, lifetime investment. The more computerized valuation services grow, the worse the home valuation system in the entire country gets. A real estate crisis that is worse than anything we’ve seen so far is waiting in the wings. This is a trend that must be stopped, and now!
Just SAY NO – to AVM’s
Automated Valuation Services are only helping to hinder any recovery in the national housing market. Information, regardless of the quantity, can do more harm than good when that information is flawed. AVM’s use data that is in error more often than it is accurate. When the answer means money in your pocket, don’t take shortcuts. When buying or selling real estate, a real live real estate professional is a must. It’s your money – keep your fair share…
Computerized valuations
… rely on public records for much of the information they use to determine home values. They use information created and reported by people who have no responsibility or interest in the real estate information system. Using information that was never created or intended to be used outside of the tax department is a recipe for disaster.
Automated Valuation Models
Why role the dice with your home?
