Agent Value Laura Miller Edwards Realty Group December 26, 2024
In today’s digital age, it’s tempting to rely on automated tools for everything — including figuring out how much your house is worth. But be careful. The automated estimates you’re seeing online often miss key details that affect the true market value of your home.
Before you toss a for sale sign in your yard and expect to bring in the number you saw for your house online, you need to understand why these tools generally aren’t spot-on and why working with an expert real estate agent is the best way to get an accurate picture of what your house is really worth.
Online home valuation tools give you an approximate value for your house based on the data that’s publicly available for your home. While this can give you a rough starting point, the keyword here is rough. As an article from Ramsey Solutions says:
“Online Home Value Estimators Aren’t 100% Accurate . . . The estimates are only as reliable as the amount of public record data the real estate websites can access. The less data gathered for your particular neighborhood, county and state, the less you can depend on this number.”
Here’s the biggest issue with online estimates: they don’t take into account the unique aspects of your home or your local market. And that’s why an agent’s expertise can make such a difference when figuring out what your house is really worth. Here’s an example. A real estate agent will also factor in:
Agents have a deep understanding of the local market, and they can provide insights that automated tools simply can’t match. As Bankrate explains:
“Online estimation tools determine pricing using algorithms that rely on publicly available information. These algorithms can vary widely from one tool to the next and typically don’t account for a home’s current condition or any upgrades or renovations that are not reflected in public records. So they are not as accurate as in-person methods, like a real estate agent’s comparative market analysis . . .”
While online home value estimates can be a helpful tool to get a rough idea of what your home is worth, they aren’t foolproof. The true value of your home depends on a range of factors that automated tools just can’t account for.
To get the most accurate estimate, let’s connect. That way you have expert guidance and up-to-date market insights to set the best possible price for your home.
This blog post previously appeared on https://www.simplifyingthemarket.com/en/2024/12/16/only-an-expert-agent-can-give-you-an-accurate-value-of-your-home?a=106260-312309902871c1f0d820820f58bf8fde. The information contained, and the opinions expressed, in this article are not intended to be construed as investment advice. Keeping Current Matters, Inc. and the Laura Miller Edwards Realty Group do not guarantee or warrant the accuracy or completeness of the information or opinions contained herein. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. Keeping Current Matters, Inc. and the Laura Miller Edwards Realty Group will not be liable for any loss or damage caused by your reliance on the information or opinions contained herein.
Stay up to date on the latest real estate trends.
Forecasts
Here’s what the experts project for home prices over the next 5 years. And spoiler alert – it’s not a crash.
Mortgage Rates
While affordability is still tight, mortgage rates have shown signs of stabilizing in recent months.
Selling Tips
The housing market is getting back to a healthier, more normal place. Here's what to expect.
For Sellers
Selling your house without a real estate agent as a “For Sale by Owner” (FSBO) may be something you’ve considered. But you should know that, in today’s shifting market… Read more
Pricing
Headlines are saying home prices are starting to dip in some markets. Here’s what you need to know.
Affordability
If you’re a first-time homebuyer, you might feel like the odds are stacked against you in today’s market. But there are resources and programs out there that can help.
Staging
Now that buyers have more options for their move, you need to be a bit more intentional about making sure your house looks its best when you sell. And proper staging c… Read more
Agent Value
Getting to know these basic real estate terms will help you feel a lot more confident throughout the home buying process.
Buying Tips
Especially in areas where inventory is rising, both homebuilders and sellers are sweetening the deal for buyers with things like paid closing costs, mortgage rate buy-… Read more
Get assistance in determining current property value, crafting a competitive offer, writing and negotiating a contract, and much more. Contact us today.