To help provide consumers with the information they need to make confident choices, realtor.com has begun displaying estimated property values from three widely respected sources on for-sale and off-market properties. Realtor.com is the only national home search site to offer a range of values from third party sources.
To provide more insight into a home’s value, realtor.com is partnering with Collateral Analytics, CoreLogic and Quantarium (firms also used by lenders and insurance companies) to estimate a property’s value. While not an appraisal, this data is intended to empower consumers to make more informed and confident decisions when buying or selling a home.
“A home is often a person’s largest asset, so it’s natural to wonder what it is worth. Additionally, everyone wants to make sure they’re getting a fair deal when buying or selling,” said Todd Callow, vice president of product management at realtor.com. “By providing consumers with multiple estimates from the same sources that financial institutions rely on to estimate a home’s value, we are able to offer a broader set of data to help our users make informed decisions about buying and selling homes.”
Because many factors go into accurately estimating the value of a home including location, size, finishes, school districts and much more, no automated model is 100% percent accurate, the company warned. While these data sources add a layer of transparency and show consumers the information often only available to financial institutions, they are not a replacement for the value gained from speaking to a local real estate professional. In addition to being included on for-sale listings, the values will also appear in the My Home portal, realtor.com’s dashboard for homeowners. Home values are available for web and mobile web with iOS and Android coming soon.
