Category Appraisal Services

Why You Should NOT Use Sites Like Zillow, Trulia, or Realtor.com for Your New Home Search

Lowell_Under_250k

While these site offer some useful information about buying, selling, mortgages, home design, etc., below are the top 3 reasons why these sites are not a good place to conduct your home search.

  1. Money. While these sites pretend to be a source of information for buyers, these sites exist primarily to make a profit. While these sites are free for consumers to use, these sites profit from selling services to those in the real estate industry. I’ll explain how they make money below.
  2. When you click on the “Request Info”, “Contact Agent,” or “Request More Details” button, chances are you are not contacting the listing agent for that property. Instead, you will be contacted by an agent who is paying the website a monthly fee for leads...
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What’s the Difference Between an Appraisal and a Broker’s Price Opinion

A.B.C.D. Real Estate Services provides both Real Estate Appraisal Services and Real Estate Brokerage Services. While our market knowledge aides us in both arenas, these two types of services are unique and distinct services. Due to potential conflict of interest issues we cannot provide both services on the same property.

Our Appraisal Services require impartiality. These services are provided to a customer, and require the appraiser to provide an impartial opinion with no fiduciary duty to the customer.

Our Brokerage Services are provided to a client to whom we have a fiduciary duty which include:

  1. Obedience: The Broker cannot exceed the authority given by the client and must follow all lawful instructions.
  2. Loyalty: The Broker must put the client’s interest ahead of all others, inc...
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Why Zillow is Not a Good Source for Home Valuation

Zillow (Click on the image to enlarge)

Why is Zillow not a good indicator of your home’s value? Quite simply, their own website says they are not accurate. The chart above depicts Zillow’s accuracy for counties in Massachusetts, and was taken direct from the website. To find it, click on “zestimates” on the bottom of the home page. This will take you to a page which explains the accuracy (or inaccuracy) of their computer generated valutations. At the bottom of the zestimates page you will find a chart where you can search by state.

If you were interviewing a real estate agent to sell your property and they told you that 38% of the time their listings sell within 5% of the asking price and 86% of the time they sell with 20% of the asking price would you hire that agent? Of course not...

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