The Truth About Automated Home Value Estimates: Everything Carlisle Home Sellers Need to Know About the 10 Home Value Algorithms and How to Use Them to Price a Home

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The Truth About Home Value Algorithms

Just because Zillow is the most know and prominent and everyone knows about their “Zestimates”, doesn’t mean their number is correct or that there aren’t other algorithms out there that can give you an idea of your Carlisle home’s value. There are at least 9 others that you have access to in order to get a better picture and differing opinions on the best asking price for your house.

When you look at all the automated home value estimates, you will see how widely they differ and that you can’t trust just one to be accurate. And when you use them correctly, you’ll see how trusting just one could cost you a lot of money and/or time on market and headaches.

Also Always Find and Analyse Comparable Sales

Automated estimates can give you an idea of what your home might be worth, but they do not have the expertise and discernment to properly find the right comparables and analyse them properly. And they don’t know the neighborhood and communities like humans do. Nor do they know your home better than you. In the end, they are just going off of objective numbers and averages. When home pricing, correct and complete information about the home, a real human, and some amount of subjectivity is needed. An appraiser is not just going to average a bunch of sales together blindly, and neither should you.

So even though looking at all these estimates is a good practice, you do not want to solely rely on them for pricing your home.

How to Use Home Value Algorithms When Pricing a Carlisle Home

Essentially, you just need to go find all the estimates, pull them together, and analyse them. Some of them are easy to find, like on all the major real estate platforms. But you have to know where to find the others.

On Realtor.com and Homes.com you can find numbers 6 through 10 on the list of algorithms below. Just scroll down on the property page a bit. On Homes.com, you will have to click the “Valuation Report” button and log in to see the additional estimates.

The 10 Automated Home Value Estimates and Algorithms

1. Realtor Property Resource (not available to consumers, only available to REALTORS)
2. Zillow
3. Homes.com
4. Realtor.com
5. Redfin
6. Quantarium
7. Cotality
8. Collateral Analytics
9. ICE
10. First American

Download Automated Home Value Estimates Checklist

Download Automated Home Value Estimates Checklist

Image of Automated Home Value Estimates Checklist

Video Going Over the Automated Home Value Estimates Checklist