Realist Real AVM Values – Estimated Market Values for Residential Properties
Realist RealAVM Values – Estimated Market Values for Residential Properties
AVM stands for automated valuation model.
RealAVM is a patented product of CoreLogic. Values are derived using unique factors, formulas, and algorithms. For this reason, RealAVM values will differ from similar valuation products. Some of the factors that may be included in their formula are: Prior sales history, public records information, lot size, square footage, and recent sales and listings.
CoreLogic considers a wide range of information about the property and surrounding market, but some items not considered are: Actual property condition, recent remodeling and improvements, if the property needs repairs, landscape (including swimming pools), and defects.
CoreLogic relays the following information:
For more information on RealAVM Values and FAQs, here is a link to CoreLogic’s website: https://www.corelogic.com/support/avm-consumer-assistance/
Please note that Realist Reports include the following disclaimers:
(Located under the Estimated Value section of the Realist Report):
(1) RealAVM™ is a CoreLogic® derived value and should not be used in lieu of an appraisal.
(Located at the bottom of the Realist Report):
The data within this report is compiled by CoreLogic from public and private sources. The data is deemed reliable, but is not guaranteed. The accuracy of the data contained herein can be independently verified by the recipient of this report with the applicable county or municipality.
Although, RealAVM values may not always reflect a true match of a property’s value, and many factors surrounding a property are not considered through an automated process, estimated values can be useful as a starting point and a valuable tool when explaining to your client the real value of their property. At this point you can step in as the expert and licensed REALTOR®, and display your knowledge by educating and advising your client to reach an accurate value.
As an alternative, you may access Remine to view several valuation products and even submit your own suggested value.