{"id":14095,"date":"2013-05-02T09:00:25","date_gmt":"2013-05-02T16:00:25","guid":{"rendered":"https:\/\/redfindevelop.wpengine.com\/blog\/?p=14095"},"modified":"2020-10-05T13:12:21","modified_gmt":"2020-10-05T20:12:21","slug":"price-your-home-like-an-agent-would","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/price-your-home-like-an-agent-would\/","title":{"rendered":"Price Your Home Like an Agent Would"},"content":{"rendered":"<p>Today Redfin launched the <a href=\"https:\/\/redfin.com\/what-is-my-home-worth\">Home Value Tool<\/a>, a new online feature that helps homeowners estimate the value of their home. The tool is the vastly improved version of the home price estimator we introduced in March of last year, which helped <a href=\"https:\/\/redfin.com\/blog\/2013\/01\/redfin_listing_agents_sell_homes_more_effectively_faster_and_for_more_money.html\">grow the listing business<\/a> by 120% in 2012. The Home Value Tool looks better, flows better, and uses the most <a href=\"https:\/\/redfin.com\/about\/press\/releases\/wav-group-publishes-study-local-brokerage-websites-most-complete\">up-to-the-minute real estate data<\/a> out there. It\u2019s the best way to price your home online because it prices your home the way an agent would.<\/p>\n<p><a href=\"https:\/\/redfin.com\/blog\/?attachment_id=14100\" rel=\"attachment wp-att-14100\"><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-14100\" alt=\"640x690_PR_Blog_HVT_ComparableHomes\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2013\/05\/640x690_PR_Blog_HVT_ComparableHomes.jpg\" width=\"640\" height=\"690\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2013\/05\/640x690_PR_Blog_HVT_ComparableHomes.jpg 640w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2013\/05\/640x690_PR_Blog_HVT_ComparableHomes-278x300.jpg 278w\" sizes=\"(max-width: 640px) 100vw, 640px\" \/><\/a><\/p>\n<p>We started working on the Home Value Tool when we realized that in real estate, there\u2019s no magic formula or complicated algorithm listing agents use to figure out how much your home is worth. Instead, they create a list of every home in your neighborhood that sold in the last several months, grab a big red marker, and emphatically start crossing homes out until\u00a0they&#8217;ve\u00a0got a list of the four or five that are most like yours. Then they make some small adjustments, take an average, and give you a price.<\/p>\n<p>Agents work this way because they know more about the homes in your neighborhood than just their square footage or number of beds and bathrooms.\u00a0They&#8217;ve\u00a0seen these homes inside and out, so they can say that a recently sold ranch-style house with a view of the river is similar to yours and that the house down the street, which looks just like yours on the outside but has an outdated 1960\u2019s interior, isn\u2019t. Their local knowledge gives them the edge over any algorithm for pricing a home.<\/p>\n<p>Agents aren\u2019t the only ones with a local edge. Homeowners have one too. Probably not as much as agents do, but certainly way more than a number crunching computer hundreds of miles away. That\u2019s why we made the Home Value Tool more than a black box that spits out a number. We built it to take advantage of what homeowners know about where they live. Here\u2019s how it works.<\/p>\n<p>The Home Value Tool takes your address and shows you a list of homes recently sold in your neighborhood based on the <a href=\"https:\/\/redfin.com\/about\/press\/releases\/wav-group-publishes-study-local-brokerage-websites-most-complete\">most up-to-date real estate data available<\/a>. Then you look through those homes and choose the three most like your own based on what you know about your neighborhood and stats like square footage and the number of beds and baths. When you\u2019re done, we show you an estimate of your home\u2019s value, a map of all the homes used to create the estimate, and a chart that lets you compare them all to each other.<\/p>\n<p><a href=\"https:\/\/redfin.com\/blog\/?attachment_id=14097\" rel=\"attachment wp-att-14097\"><img decoding=\"async\" class=\"alignnone size-full wp-image-14097\" alt=\"640x480_PR_Blog_HVT_ComparablesChart\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2013\/05\/640x480_PR_Blog_HVT_ComparablesChart.jpg\" width=\"640\" height=\"480\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2013\/05\/640x480_PR_Blog_HVT_ComparablesChart.jpg 640w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2013\/05\/640x480_PR_Blog_HVT_ComparablesChart-300x225.jpg 300w\" sizes=\"(max-width: 640px) 100vw, 640px\" \/><\/a><\/p>\n<p>And if you want a real estate agent\u2019s opinion of your estimate, we\u2019ve included a button to<a href=\"https:\/\/redfin.com\/real-estate-agents\"> contact a Redfin Agent<\/a> in your area.<\/p>\n<p><a href=\"https:\/\/redfin.com\/blog\/?attachment_id=14098\" rel=\"attachment wp-att-14098\"><img decoding=\"async\" class=\"alignnone size-full wp-image-14098\" alt=\"640x480_PR_Blog_HVT_EstimateSummary\" src=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2013\/05\/640x480_PR_Blog_HVT_EstimateSummary.jpg\" width=\"640\" height=\"480\" srcset=\"https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2013\/05\/640x480_PR_Blog_HVT_EstimateSummary.jpg 640w, https:\/\/www.redfin.com\/news\/wp-content\/uploads\/2013\/05\/640x480_PR_Blog_HVT_EstimateSummary-300x225.jpg 300w\" sizes=\"(max-width: 640px) 100vw, 640px\" \/><\/a><\/p>\n<p>Click <a href=\"https:\/\/redfin.com\/what-is-my-home-worth\">here <\/a>to take Redfin\u2019s new Home Value Tool for a spin. Or if you\u2019re feeling a little like some fun, use it to price <a href=\"https:\/\/redfin.com\/what-is-my-home-worth?estPropertyId=34989943\">Carmelo Anthony\u2019s mini-Versailles<\/a>, <a href=\"https:\/\/redfin.com\/what-is-my-home-worth?estPropertyId=23099637\">Kim and Kanye\u2019s iberian palace<\/a>, or<a href=\"https:\/\/redfin.com\/what-is-my-home-worth?estPropertyId=7122592\"> Channing Tatum\u2019s tropical bungalow<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Today Redfin launched the Home Value Tool, a new online feature that helps homeowners estimate the value of their home. The tool is the vastly improved version of the home price estimator we introduced in March of last year, which helped grow the listing business by 120% in 2012. The Home Value Tool looks better, [&hellip;]<\/p>\n","protected":false},"author":13158,"featured_media":14106,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[57],"tags":[],"dashboard":[],"coauthors":[],"class_list":["post-14095","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-company-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.7 (Yoast SEO v27.6) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Price Your Home Like an Agent Would - Redfin Real Estate News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.redfin.com\/news\/price-your-home-like-an-agent-would\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Price Your Home Like an Agent Would\" \/>\n<meta property=\"og:description\" content=\"Today Redfin launched the Home Value Tool, a new online feature that helps homeowners estimate the value of their home. 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