{"id":63958,"date":"2018-09-25T09:41:21","date_gmt":"2018-09-25T16:41:21","guid":{"rendered":"https:\/\/redfindevelop.wpengine.com\/blog\/?p=63958"},"modified":"2020-10-05T13:11:46","modified_gmt":"2020-10-05T20:11:46","slug":"introducing-the-redfin-owner-estimate","status":"publish","type":"post","link":"https:\/\/www.redfin.com\/news\/introducing-the-redfin-owner-estimate\/","title":{"rendered":"Introducing the Redfin Owner Estimate!"},"content":{"rendered":"

New Feature Combines Machine Learning with Homeowner Input for a Smarter Home Value Estimate<\/span><\/i><\/h3>\n

Today we announced Redfin Owner Estimate<\/a>, a tool for homeowners to create an estimate of their home\u2019s value that combines the best of machine learning and human insight. <\/span><\/p>\n

We <\/span>created the Redfin Estimate<\/span><\/a> to provide an instant answer to homeowners\u2019 most important question: \u201cWhat is my home worth?\u201d We\u2019re proud the Redfin Estimate is the <\/span>most accurate online home-value estimate<\/span><\/a> for on-market homes, but we also recognize the importance of the first-hand knowledge that a homeowner has about her own home when it\u2019s not on the market. <\/span><\/p>\n

That\u2019s where the Redfin Owner Estimate comes in. The same machine-learning engine that powers the Redfin Estimate can now incorporate homeowner input, resulting in an even more accurate estimate of a home\u2019s value. <\/span><\/p>\n

This feature addresses one of our top requests from homeowners: to be able to provide their own input and additional information, such as renovations that have been completed, that could impact the estimated market value of their home. <\/span><\/p>\n

How Does It Work? <\/b><\/p>\n

An Owner Estimate can be created by the verified homeowner of any off-market or recently sold home. To create an Owner Estimate, the homeowner goes through a step-by-step process to update home facts. Have you added a bathroom or expanded? The Redfin Owner Estimate will incorporate these updates. <\/span><\/p>\n

The homeowner then selects at least five nearby comparable homes (comps) from a list of 25 recently sold homes in the area. Redfin uses the homeowner\u2019s comp selections to calculate the Owner Estimate. <\/span><\/p>\n

Once created, the homeowner can keep the estimate private or choose to post it publicly above the Redfin Estimate on their home\u2019s details page on Redfin.com. <\/span><\/p>\n

The Redfin Owner Estimate puts the power of our proven machine-learning algorithm into the hands of consumers, so they can have a more accurate picture of their home\u2019s value whether they are preparing to sell or simply want a better understanding of their equity. Not to mention, it\u2019s fun! <\/span><\/p>\n

Get Started<\/b><\/p>\n

To generate your Owner Estimate, search for your home\u2019s address on Redfin.com<\/a>. Then click Create Owner Estimate in the Redfin Estimate section. <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

New Feature Combines Machine Learning with Homeowner Input for a Smarter Home Value Estimate<\/p>\n","protected":false},"author":13060,"featured_media":29083,"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":[133],"dashboard":[],"coauthors":[],"class_list":["post-63958","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-company-news","tag-redfin-estimate"],"acf":[],"yoast_head":"\nIntroducing the Redfin Owner Estimate! 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