Online Home Appraisals
There are many web sites that now advertise a online home appraisal services.
A quick explanation here will help consumers to understand a little bit more about these web sites and how most of them work.
The majority of these sites provide a useful service but it is also true believe they could be a little more transparent in how they operate as many are little more an introduction service to real estate agents as they are used as an advertising tool to find people who may want to sell.
Online home appraisals are the new golden goose of real estate
In the real estate world the golden goose is a product that produces a consistent supply of people who want to sell their properties.
So offering a free online home appraisal service is a good way to attract potential customers who may be considering selling.
The way the web sites operate is real estate agents pay a subscription fee to the online home valuation or appraisal web sites to control an area / suburb or postcode.
Then when a consumer requests a online home appraisal in that particular area the consumers details are forwarded to the subscribing agent and the local agent provides the consumer with the relevant information so the consumer can assess what their home may be worth.
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Is there any thing to be careful of online home appraisals
It all seems harmless enough but i would like to see these online home appraisal web sites promote or advertise a little bit more how they actually work that is openly admit they are paid by the real estate agents to seek potential customers.
The web sites will probably ask any potential visitor to their site to submit details of the property they want to sell they will also request that the consumers supply contact details ie either phone or email which is common.
The local real estate agent who provides the so called online home appraisal service will then keep this potential customers details on their database and keep in contact with this potential customer in case they decide to put their property on the market now or into the future.
Agents need constant supply of new sellers offering online home appraisals can find these new sellers
Real estate agents are constantly looking for new sellers and most of their marketing is directed towards finding new customers who may want to sell.
If you submit your details to one of the web sites offering this type of online home appraisal service the type of information or report you will get from the local agent will probably consist of a table of comparable recent sales to your property, and a estimation of your properties worth based on other sales in your area.