It stands to reason that determining the price of your most valuable asset should never be left to chance. But that’s precisely what happens when relying on the automated valuations offered by many websites, such as Zillow and Trulia. Just ask yourself, “How do these programs know how my home compares with others on size, condition, location, market appeal and improvements?” The simple fact is that they don’t. These automated valuations are based on limited, and often unreliable, public or user-submitted data. If you look closely, the extensive disclaimers can be quite revealing. Zillow, for example, says that the Zestimate can be off by more than 4.5% for half or more of the properties in a given market. In many cases, up to 20% of error can be found. That amount of error will more than pay for the entire commission several times over!
Some savvy owners may go a little further and examine recent sales in the tax records. Unfortunately, this is nothing more than doing the legwork performed by automated valuations. Tax records of property details are notoriously wrong. So much so, that the North Carolina Real Estate Commission prohibits licensees from relying on them in preparing property listings. Unless someone physically measures your home, chances are they are relying on these very same records; not good!
That’s why a professional real estate agent, or appraiser, is your best choice in determining the value of your home. Only Realtors and appraisers have access to recent MLS records, including interior photographs, detailed records of condition, improvements and materials, and past disclosures which can reveal defects such as unpermitted spaces.
Our agents will gladly visit with you at your home, at a date and time that’s convenient for you, and closely examine your home’s features and it’s dimensions. They’ll then use this information to prepare a comprehensive market analysis using our proprietary algorithms. Once completed, you can be certain that a carefully calculated price range can be determined to effectively market your home. Request to be contacted or call 919-882-6700 and speak with a Daymark representative today!