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Redfin Launches Home Price Estimates of Their Own

redfinOn the heals of the recent news by Surefield, another Seattle-based brokerage you have probably heard about – Redfin – announced their own Automed Home Price Estimates today.

You can type in an address here, and you’ll end up on a property page such as this.

I can’t help but wonder whether this is the beginning of a run on brokerages and franchises releasing their own AVMs?

Who’s up next?

About Drew Meyers

Founder of Geek Estate Blog / Geek Estate Labs. Zillow Alum. Travel addict & co-founder of Horizon. Social entrepreneurship & microfinance advocate. Fan of Red Hot Chili Peppers and Kiva.

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  • I think these become less interesting with each iteration, although this one does have superior data from the MLS to drive its valuations. It may end up creating a better “starting point” for valuations than the zestimate, but it’s really another lead gen tool.

    I ran it on my home. It’s off by 10+%. I have a valuation tool on my website that costs $50/mo and does about the same. AVMs are interesting for learning about a broad market. They’re mostly just shiny objects when it comes to evaluating a single home. At least this one will use the most current data available.

    • Agreed these AVMs get less and less interesting each iteration. Outside of Zestimates, yup, just another lead gen tool because no one else is likely to invest the massive amount of time and energy and money needed to build brand/trust associated with their data.

  • Gabe Sanders

    I really don’t think superior data from any source can make up for the eyes on experience of a knowledgeable appraiser or Realtor. The computer can’t see the upgrades, condition, location and views.

  • mike Z

    Experience is best, but it’s always nice to have a tool to confirm your experience

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