The Value of Valuation Services Part I
Posted by Monte Davis on
Today's consumer is tech-savvy and, with unprecedented access to information, can be educated and discerning about even mundane transactions. For large transactions, like those involving real property, sellers and buyers are going to do their research, and generally that's a good thing. The problem is that their first stop will probably be an online real estate portal like Zillow, Redfin, Trulia, etc. and the information supplied by these third party providers can be largely inaccurate (which we will cover in the following sections). If sellers are thus misinformed before visiting a real estate agent the discrepancy in estimated value makes it difficult to trust the agent actually representing their interests.
The proprietary algorithm used by Zillow…
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