Use AVMs to Your Advantage
You may have heard the term “AVM” without really understanding what AVMs are or how they are used. Short for Automated Valuation Model, an AVM is a tool that estimates a property’s value. “Automated” means that a computer program performs all the calculations—no human adjustments to the estimated property value.
To come up with an estimate, a good AVM will analyze data from a variety of sources, weight them appropriately, factor in market trends, and more. As a skilled real estate professional, you have the ability to enhance the knowledge supplied to homeowners via AVMs. A broker can further educate the homeowner about the multitude of other property variables that AVM may not take into account (i.e. views, recent renovations, condition of the property, etc.). Learn more about AVMs.
Historically, mortgage lenders have used AVMs to make an initial determination of a property’s value. Thanks to the Internet, AVMs are now widely available to homeowners curious about the fluctuating value of their home. Why send your clients and prospects to national real estate portals to find property estimates?
Use AVMs to initiate conversations with homeowners today!
With ePropertyWatch™ from CoreLogic®, you can automatically deliver the property valuations they are looking for every month. You can add notes and adjustments to the AVMs if needed. The reports also include nearby listings, sales, building permits, foreclosures, market trends, and more. What homeowner doesn’t like to know what’s going on in their neighborhood?
As an IRES MLS benefit, ePropertyWatch is 100% FREE for up to 2,500 contacts.
To get started, view this video or simply click on ePropertyWatch under the Reports menu on IRESIS.com.