Consumers Flock to Electronic Appraiser to Value Properties, More Than Doubling Traffic Over the Last 30-Days
RISMEDIA, June 12, 2006 -- Electronic Appraiser, a provider of online home valuations direct to the consumer, has been ranked first in accuracy, value and ease of use in an article by MSN(R) Money Central, comparing Electronic Appraiser with other providers offering similar products. A popular choice in the For Sale By Owner (FSBO) market, EA has helped thousands of homebuyers and sellers to successfully cut the middleman out of the real estate transaction. Since the release of the article, EA has seen a dramatic increase in both consumer orders, as well as increased partnership interest.
"We've been waiting for conversations to be geared towards consumers about these kinds of solutions and we are honored by MSN ranking us number one amongst our competitors," said Greg Sullivan, president for Electronic Appraiser. "We believe a consumer brought into the real estate transaction, or more aptly put -- driving the real estate transaction -- creates additional fluidity in real estate markets, and those closely tied to it, such as mortgage, insurance and the like. We've been hearing from the large Lenders, and the feedback on our market strategy is very positive. We hope that this will continue the expansion of useful real estate solutions into the consumer market."
The magic of this solution is no illusion. Electronic Appraiser's home valuation report is produced by an automated valuation model, or AVM for short, that returns a value based on current public record data and proven mathematical algorithms -- the very same tool that Lenders have been using for years to make credit risk decisions or to evaluate its own portfolio of properties. While Lenders are generally limited to just a few of the top models, Electronic Appraiser -- as a preferred distributor, provides consumer's access to all the top performers available today.
The MSN(R) Money Central article notes that when it comes to the precise science of home value, a Realtor or appraiser is probably a better route -- such as with homes where an AVM can't take into account: "...view, landscaping, remodeling, condition and wear, curb appeal, fine fixtures and materials, floor plan, room sizes, neighbors and the appeal of neighboring properties, access..." said Appraiser-Realtor Francois "Frank" K. Gregoire. However, Electronic Appraiser contends that between human and AVM valuations, there is no exact science in setting home price.
"Today homeowners can gather pertinent property information through web resources, by talking to neighbors and doing their own homework, to confidently set a fair asking price themselves," said Sullivan. "Market value is ultimately determined by the price at which a buyer is ready, willing and able to buy; and a seller is ready, willing, and able to sell. Having a qualified starting point on a fair market price can be measured in saving thousands of dollars in commissions for the do-it-your-self homebuyer or seller. While using a Realtor or appraiser has been the industry standard for decades, the methods in which real estate is now marketed are changing rapidly."
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