Photo via Seth Jenson
Do you really need a real estate agent to help price your home when you already have resources such as “Automated Valuation Model” (AVM)? AVMs calculate your property value by comparing similar homes in your area that have recently sold.
There are reasons real estate agents exist. Why do they exist, though, when we have tools such as AVMs? Here are three reasons why:
These tools are not always accurate.
Realtors also use these tools to help find the value of your home, but then they go on and further their research to find the true value. AVM evaluations are known to be off by around 5 percent. 5 percent! That’s a big enough percentage to be alarming. Sometimes they are even inaccurate up to 20 percent.