If you really want to know what the true market value of your Frisco, Prosper or surrounding areas home is, it is important to know the differences between an AVM (Automatic Evaluation Model) and an RVM (Realtor Evaluation Model). Many sellers use websites that follow an AVM, such as Zillow or Trulia, which are out of date and often gather subjective figures based on zip codes not presenting a home’s true value. Texas is a non-disclosure state, meaning that home owners are not required disclose what they paid for their homes. AVM sites have to rely upon readily accessible data that may not be up to date.
Today’s marketplace can’t rely upon data that is even 72 hours old, which is why the better option is the RVM. The RVM appeals to many sellers because it takes into consideration things that an AVM doesn’t, such as upgrades to the house that didn’t require a permit and other factors which are not reflected in public records. An RVM gets the agent involved in the evaluation process allowing for current market trends as well as a real outlook on a home’s true value. This is especially true since the agent utilizes the MLS for the sales data and they are the local experts and stay up to date on buyers expectations and what they are looking for.
In today’s market, not all real estate agents want to focus on sellers. The crash of the housing and lending markets have put many homeowners in a position where they can’t even pay a commission on the sale because their home has been so devalued in today’s market. It helps home sellers to have an accurate assessment of their property value before they can even begin to seek professional help.
On my website I offer a free home evaluation using the RVM approach, stop anytime for yours, you will just need to answer a few questions about your home and we will get it right out to you.
Robyn Heathcock
www.IRGrealestate.com
972-837-0651
Try me for any property related matter!
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