A single estimate is a good starting place, but it doesn’t tell the whole story of a home’s value, so Realtor.com added three. The company hopes to give consumers a more detailed, accurate experience by offering estimates derived from models used by lenders and insurance firms. By offering these different values, consumers can see not just what the home’s value may be in sale, but how lenders and insurance firms would value the property as well. This bigger picture model in theory can help potential buyers make more informed decisions and potential sellers set realistic expectations on their home’s value.
Real estate portal, realtor.com announced today the incorporation of three home value estimates to both the for-sale and off-market properties it shows on its website.
“Our focus is making buying and selling homes simpler and more enjoyable for everyone and home values are of a great interest for both buyers and sellers,” says Todd Callow, vice president of product management at realtor.com. “We think it's a really important part of making buying and selling decisions, so we wanted to make sure to meet that need with a really strong solution.”
Thus, instead of providing a single property value estimate, the way Zillow does with the Zestimate, realtor.com has partnered with three companies that offer proprietary valuation models used by lenders and insurance firms.
