A variety of websites have emerged in recent years that attempt to estimate what your home is worth. If you intend to sell your home, it is important that you understand how these estimates are determined before you use them to set an asking price. These websites use something called Automated Valuation Models (AVMs) computer programs designed to make estimates based on averages.
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Here is the first problem with this approach:
- Every home isn’t average, and computer models don’t know the condition or uniqueness of each home.
- The other problem is that the models used by different websites rarely agree.
So which estimate is correct? As a homeowner, you’re likely to hope that the highest value is correct. Buyers, on the other hand, want to negotiate based on the lowest price the sites suggest.
Determining the right price requires looking at recent sales, seeing what other homes on the market are asking, and understanding exactly how your home compares.
Never make pricing decisions based on a website’s generic analysis. Talk to your realtor and make decisions based on as much information as possible.
Watch the video below:
One of the reasons to call the Agardi Team if you want to buy a home or have one to sell is:
Not only do we sell our clients’ homes for more money and faster than the average area agent, but your home is also more likely to sell. According to 2015 MLS statistics, only 71% of area homes sold during their listing term. Compare that to our 95% of homes listed that sold before the end of the listing term. YOUR HOME SOLD GUARANTEED OR WE’LL BUY IT*
To discuss the sale of your home, call The Agardi Team at 718-755-2882 and start packing!
*Agardi Team and the seller have to agree on the price and the closing date.