Internet Home Estimate Sites are not Accurate

 

If a realtor tells me my house is worth 380k and an Internet Home Estimate site says 440k, who do I believe?

 If the Realtor has five or more years of experience in your local market, has been inside your home, has noted the lot characteristics, has found comparables and provided a market analysis, and has discussed with you the features of your home that both add, and detract, from its value, you can bet their estimate of your home’s value is more accurate than an Internet Home estimate site.

These internet home estimate sites are notorious for over, and under, estimating home values. They don’t make house calls and have never been inside your home. They can’t see (or can’t subjectively evaluate) your ugly bathroom, your tired kitchen, your out-of-date finishes.

Their algorithm doesn’t compensate for your house backing to a busy road, a fast-food drive-through window, or a sewage treatment plant. When it comes to subjective determinants of value, these internet home estimate sites miss the mark. Every time.

It’s folly to try to compare an experienced human real estate professional to these inaccurate home estimate sites.

I know it’s tempting, but just don’t do it.