Room condition

Meet Steve from Seattle

$6,000+

average annual spend on home-improvements

90+%

of AVM’s do not account for room or home condition

Problem

Steve from Seattle is trying to sell his sister’s home after she relocated in Spain for a new job. It’s a contemporary detached house with 3 large bedrooms and an open kitchen. Everything is in excellent condition and he’s even hired a team to take home-staged photos. Yet, none of the AVM’s he used or iBuyers he solicited bids from seem to recognize the true value of the renovations, modern design, and excellent conditions of the house.

Solution

While struggling to find a real estate company that could accurately calculate the house’s value, Steve met Mary from a recently launched iBuyer. She explained how their AVM considers a home’s condition to provide more accurate valuations with lower error rates. Steve is thrilled and tells his sister that they now have an offer which truly reflects the house’s condition. She can relax and focus on her exciting new opportunity.

Takeaway

Steve’s case is one of the many where sellers struggle to find the right price estimate for their property. AVM’s are great at predicting prices and help buyers and sellers know more about the market. However, they have a blind spot regarding the condition of a house. Processing listing images to determine a house’s condition has a big impact on the quality of your valuation – whether it’s been recently renovated or if the house is a good candidate for flipping.

increased accuracy in AVM response

Return to data models

Are you ready to break the status quo?