Just Say "No" To Automated Comprehensive Market Analysis Tools

Posted by Tereesa Admin on Thursday, July 24th, 2008 at 2:53pm.

Whether you're buying or selling a home, knowing the home value is of highest importance. When selling, finding out what home values are like in the surrounding area helps keep asking prices in order. One of the greatest lures when researching real estate is online home value assessments, which offer immediate home value assessments after you plug in some information. While the convenience of these tools can be perceived as worthwhile, there is more to be said about a comprehensive market analysis (CMA) from a licensed realtor.

Online market analysis tools without licensed realtor input can be dangerous. If you're planning on selling your home on your own and want a way to cut costs you may be tempted to use an online analysis tool to determine your home's estimated value. The information on these particular sites runs the risk of being outdated and inaccurate. The last thing you want to do is aim too low or too high with your asking price. Employing a realtor to do a CMA on your home will not only provide you with the most up to date information, but a realtor also has insider knowledge of what could increase the value of your home if necessary.

A realtor also has in depth knowledge of the housing market and is willing to put in the time to do the research for you. With the constant fluctuation in the economy, it is extremely important to determine your home's value with the most up to date information available. A realtor can do what an online value assessor can't which is do present day research on the status of the housing market and compare the results to the value of your house, neighboring properties, etc. Online home value estimation tools generally use information from neighboring houses and properties and find a median range. They don't factor in the daily changes in the housing market or any recent modifications made to your home or property.

After developing your CMA, a realtor can also visit your home personally and tour the property for themselves, making suggestions on things to change to increase your home's value. A realtor understands your needs better than a computer ever will. Sure, a computer will understand the necessity of a quick result, but a realtor takes personal care in regard to your needs. Also, most realtors offer their own version of online CMA tools, contacting the individual after they determine his or her CMA from an online survey.

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