Fair Housing Notice

In today’s digital world, it’s easy to lean on automated tools for everything — even when determining your home’s value. But here’s the catch: those online estimates often miss the mark. They can’t capture the full picture, leaving you with an incomplete understanding of what your house is truly worth.

Before you pop a “For Sale” sign in the yard based on a number you found online, let’s break down why these tools fall short and why teaming up with a real estate expert is the smartest move you can make.

The Myth: Online Home Value Estimates Are Always Accurate

Online valuation tools rely on publicly available data to calculate your home’s worth. While they can offer a ballpark figure, the key word here is ballpark. According to Ramsey Solutions:
“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.”

The Reality: Online Estimates Overlook Key Details

The biggest flaw with automated tools? They don’t account for the unique characteristics of your home or the nuances of your local market. That’s where the expertise of a seasoned agent makes all the difference. Here’s what agents bring to the table:

  1. The Home’s Condition: Automated tools can’t tell if your home is move-in ready or in need of repairs. Factors like upgrades, renovations, or deferred maintenance play a significant role in determining value, and only a professional walk-through can capture those details.
  2. Neighborhood Trends: Is your area gaining popularity? Are new schools, parks, or businesses nearby? Online tools often miss out on local trends and amenities that can increase your home’s appeal and value.
  3. Accurate Comparable Sales: While online estimates pull data from past sales, they might not use the most relevant or up-to-date comps. Real estate agents have access to the latest market insights and can provide a more precise valuation based on real-time sales data.

Bankrate sums it up well:
“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 . . .”

Bottom Line

Online home value estimates can be a helpful starting point, but they’re no substitute for expert guidance. Your home’s true value depends on a range of factors that automated tools simply can’t capture.

Let’s connect to ensure you have a complete understanding of your home’s worth. With personalized insights and up-to-date market knowledge, I’ll help you set the right price and make the most of your sale.

Marion DeSantis Team

935 New Loudon Road
Latham, NY 12110

KW Capital District SOP

Keller Williams Realty, Inc. is a real estate franchise company. Each Keller Williams office is independently owned and operated. Keller Williams Realty, Inc. is an Equal Opportunity Employer and supports the Fair Housing Act.
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