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Rainer
August 25, 2011 at 7:34 am
IMO, agents have a margin of error of about 10%. A CMA can be written anyway the agent wants, yo either get the business with a higher value or to get a price reduction with a lower one. How do you value that pool or that extra bedroom versus comps? It's a flat out guess. Appraisers even say theirs is an estimate of value. So, 8.5% is pretty good. 🙂
Fred Romano
August 25, 2011 at 11:43 am
I agree, I think the Zestimate is not too far off the mark, compared with agents "CMA's" which are inherently flawed in many cases because they want to "get the listing" — so anything goes!