How We Suggest Sale Price Without Visiting Your Home
Property valuation is a cornerstone of selling real estate. It tells the market what we think a home is worth and what we believe the seller should accept as a sales price.
Properly’s roots are in selling bank-owned homes. Our sellers were located all across the country and they had to depend on our market knowledge and expertise to get the value right and justify it with representative comparable listings and sales. They went as far as creating a scorecard that let us know how accurate our valuations were, compared to the final sale price of a home.
So because the team didn’t physically go to each home we were valuing, we were able to keep our costs low and charge banks a lower commission. This travel is where traditional residential agents spend a lot of their time (which they bill you for in their high commissions).
With Properly, we bring this remote valuation expertise to the average homeowner and pass on the cost savings in the form of our low flat fee. If you haven’t already, check out our Online Valuations page to get a free remote valuation of your home within a few hours.
How does Properly value a home remotely?
We use data analytics combined with a couple of decades of real estate experience. We start our analysis with a human and a keyboard – We consider the age, square footage, and subdivision or area where your home is located.
- WHERE IS IT? Our first snapshot is of the immediate subdivision, neighborhood, area, or school district. How unique is the property and how much does it conform to typical homes in the immediate area? If your home is pretty typical, we keep our search narrow. If your property is unusual or atypical for the neighborhood, we expand the search until we understand the value with similar properties.
- WHAT’S HOT? (Pending sales)- Once we have located the appropriate sampling of comparable listings we focus on the pending sales first. Those sellers knew what it took to get a buyer and at what price. We heavily weight properties under contract. This gives us the most realistic viewpoint of exactly where the market is – here and now.
- HOW FAST? (Days on the market) and HOW MUCH? (Sale price after concessions) – Comps that have sold tell us where the market has been and help us estimate where we can go. We also take into account market trends. We have to consider if the market is headed up or down to be sure we don’t increase the time on market or leave money on the table.
- WHAT’S OUT THERE? – (Active listings) – Knowing our competition and how the property will stack up helps us determine our positioning.
- WHAT MAKES THIS ONE UNIQUE? (Special features) – The homeowner knows this best. Is it the community feel of the swim/tennis club in summer or the shady backyard that has a great breeze? All of this translates to value.
Taking all of this data into consideration, we can paint a picture of the value very quickly and with 98% accuracy. If you’re considering selling your home, see how Properly works to sell your home. The first step in our process is to complete an online valuation for your home, where you answer a few short questions, tell us where to send your free home valuation report. It’s that easy.
Want to read what our customers are saying about selling their homes with Properly? Check out our exclusively 5 Star Verified Zillow Reviews here.