Homes.com launches the AVM
The battle of estimated home values has created quite a headache for the real estate industry and Realtors are familiar with the “but so and so website says my home is worth 25% more than what you say I should list it for” conversation.
Did you catch in the video above that they said they aim to be “the most agent friendly home value estimator on the web?” That’s a very lofty goal given the history of AVMs.
How will Homes.com meet this goal?
The first to use Bing Maps 7 with the unique bird’s eye view, the new AVM is made possible by partnering with “proprietary, automated valuation model from SmartZip Analytics, Inc” which “has valuable information about the property, including estimated value over time, last sold date and price, and a mortgage estimate” as well as “information on nearby homes for sale and recently sold properties.”
Homes Media Solutions Marketing Director, Patty McNease told us, “We have taken a slightly different approach in the industry with our launch of our Home Values by concentrating on maximizing connections between consumers and real estate professionals.”
Tom Glassanos, president and CEO of SmartZip Analytics said, “We are excited to partner with Homes.com to bring them our objective assessment of fair market values on over 75 million homes across the U.S.”
Jason Doyle, VP of Homes.com said, “The launch of Home Values and the unveiling of our new brand are the first of many upcoming developments at Homes.com designed to connect more consumers visiting Homes.com with our preferred local professionals.”
While several real estate search sites launched as consumer facing and initially ignored the Realtor population, Homes.com has seen how badly that fails and the backtracking eventually required, so we believe they’ve set out to provide consumer value while promoting the real estate industry- what a novel approach.