Online Home Valuation Sites

Announced on Inman News today, RealEstateABC has a new online home valuation site that is supposed to rival Zillow. I’ve played around with both of these sites and find them to be useful to help potential Buyers and Sellers get an idea of prices in their neighborhoods, but will these online tools ever be able to replace the accurate market analysis of an experienced real estate agent? There are so many factors involved with pricing a home, I just do not think a fancy program will ever be reliable enough to trust with our largest investments.

I recently sold a home in Wallingford for $635,000. Zillow had this home valued at $520,000 and RealEstateABC at $555,000. Thankfully the Seller didn’t decide to go the FSBO route and base his price off of these online sites! He may have missed out on $100,000 or more!

Again, I do think it is great to provide Buyers and Sellers with as much information and education as possible. I’m all in favor of having this information easily at their fingertips. I just hope this info is used wisely. You should never underestimate the value of having an experienced Agent on your side.

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