One project I’ve been getting rolling is Snohomish County’s home valuation tool. For many years, I’ve been building, rebuilding, fixing, learning, and working on the Team’s real estate website. The interwebs constant evolution makes it difficult to stay on top, stay in-front of consumers, implementing better technology and services then competitors while creating useful conversion tools that are both effective and easy.
The Seller Home Value Tool is one solution to help stay competitive and relevant in a ever changing market place that can be cutthroat, ultra competitive, and has a lot of talented players, there are some agents that lack any sort of talent but we’ll save that for another topic.
How does the home value tool work?
Real estate brokers use a variety of factors and techniques to determine a home’s value: location, condition, size, beds & baths, lot size, surroundings, views, flood-zones and slide-zones, more recently. With online models, like Zillow and Trulia (there are a host of others), the valuation tool strictly looks at a property’s data that’s available through websites and county assessor’s data. That data is run through a valuation model which delivers a home’s value along with a confidence score of that value.
The online data has been getting better over the years due to more-and-more home information being published; active homes, sold homes, pending homes, and recent neighborhood activity. While every online valuation tool is a bit different, we believe our tool will be more accurate for local users.
In a blog post, Get Property Values in 1 Minute or Less, I write and show screen captures of the information users can expect to receive: aerial property view with property details, sign up form (a necessary evil of the system), and an estimated property value report with confidence scoring, recent comparable properties, and rental estimate with high and low values.
How do you do home valuations?
With all the tools available I am curious who uses what? Are home value tools used frequently?
More importantly, to me and our users, is the home valuation tool of value and useful? Because with all the online valuation system out there it is important to know that junk isn’t released.
Thoughts are welcomed! Heck, they’re encouraged :D