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What is the most accurate and reliable online platform for estimating the market value of a home in the United States before listing it for sale?
A comparative market analysis (CMA) by a real estate agent is the most accurate way to estimate a home's value, as it takes into account unique features and recent sales of similar homes in the area.
Online home value estimators, also known as automated valuation models (AVMs), use public records and local sales data to estimate a home's value, but may not consider recent upgrades or condition.
Redfin's home value estimator, called the Redfin Estimate, is considered one of the most accurate AVMs, with a median error rate of 1.77% for listed homes.
Zillow's Zestimate has a median error rate of 6.9% for off-market homes, but can be less accurate for homes in rural or high-end areas.
Realtor.com's estimate, called the Accuracy Estimate, is powered by PropStream and has a median error rate of 2.41%.
Bank of America's home value estimator, called Real Estate Center, uses public records and local real estate data to provide an estimate.
Clever Real Estate's estimate is powered by HomeLight's AVM and considers data from over 100 million homes.
Ownerly, a lesser-known home value estimator, charges a fee for its estimate and has received negative online reviews.
HomeLight's estimate is unique in that it connects users with a top real estate agent and allows buyers to make real offers on the home.
Quick offer services like Zillow Offers, Redfin Now, OpenDoor, and OfferPad provide cash offers for homes at a discounted price to what the home would sell for on the market.
HomeSmart's estimate is based on real-time market data and considers local trends and market conditions.
Eppraisal's estimate is powered by Collateral Analytics and considers data from multiple listing services (MLSs) and public records.
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