What happens after I update a HomesEstimate with a CMA range?
How We Display The Updated Number
As per the example below we will display an agent appraised label and disclaimers to ensure we are being as transparent as possible.
The agent appraised label will disappear when the HomesEstimate is recalculated each fortnight. However, the call out on the graph and the disclaimer under under the graph will remain.
How We Calculate The New Number
The mid point becomes the new HomeEstimate and the range is determined by our algorithm
When we have more data the range will be narrow and when we have less data the range will be broader. Please see the example.
We do not display the exact appraisal figure to our users.
How do I update a HomesEstimate?
We understand that our HomesEstimate does not always accurately reflect the value of a property. For this reason, we allow you to update it with a CMA range. To upload a CMA range you must have written permission from the vendor. Login to your ...
If you have received a recent CMA from a Real Estate Agent or a formal valuation report
If you have received a formal valuation report from a registered valuer or a recent comparative market analysis (CMA) from a Real Estate Agent, you can help us improve the accuracy of your HomesEstimate. To update your HomesEstime using a formal ...
Can I remove the HomesEstimate while I'm selling my home (it should be higher)?
No. If you feel that your HomesEstimate does not accurately capture the value of your home, we suggest you provide us with a formal valuation and we will update the HomesEstimate. If you have received a recent comparative market analysis (CMA) from a ...
What is the HomesEstimate?
The HomesEstimate valuation is our estimated market value, computed using a proprietary formula. It is not a formal valuation. It is a starting point in determining a home's value. The HomesEstimate is calculated from data available to homes.co.nz, ...
Will the HomesEstimate ever change?
Yes. A team of statisticians are constantly working to make the HomesEstimate more accurate. Homes.co.nz is continually updating the approach used to estimate the value of your home, and any new sales or property information is used to update and ...