Only an Expert Agent Can Give You an Accurate Value of Your Home

In today’s digital age, it’s tempting to rely on automated tools to determine the value of Chicago homes. However, these estimates often miss crucial details that influence the true market value of your property. That’s where real estate professionals make all the difference.

Before you put a for sale sign in your yard based on an online estimate, it’s important to understand why these tools can be inaccurate and why partnering with MPG is the best way to ensure your home is priced right.

The Myth: Online Home Value Estimates Are Accurate Online home valuation tools provide a rough estimate based on publicly available data about your home. While this may offer a starting point, it’s far from precise. As Ramsey Solutions explains:

“Online Home Value Estimators Aren’t 100% Accurate . . . The estimates are only as reliable as the amount of public record data the real estate websites can access. The less data gathered for your particular neighborhood, county, and state, the less you can depend on this number.”

The Reality: Online Estimates Miss Key Factors Online tools fail to account for the unique characteristics of Chicago homes and the nuances of the local market. This is why working with an expert real estate agent is essential for an accurate valuation. Real estate professionals consider:

• Your Home’s Condition: Automated tools can’t assess whether your home has been meticulously maintained or needs major repairs. Only an in-person evaluation can factor this into the valuation.

• Neighborhood Trends: Is your Chicago neighborhood experiencing growth or new amenities? Real estate agents understand these local trends, which can significantly influence your home’s value.

• Accurate Comparable Sales: While online tools may use outdated or irrelevant sales data, MPG has access to the latest market information. We provide accurate comparable sales (comps) tailored to your area to ensure your home’s value reflects current market conditions.

As Bankrate emphasizes:

“Online estimation tools determine pricing using algorithms that rely on publicly available information. These algorithms can vary widely from one tool to the next and typically don’t account for a home’s current condition or any upgrades or renovations that are not reflected in public records. So they are not as accurate as in-person methods, like a real estate agent’s comparative market analysis . . .”

Bottom Line

While online estimates can offer a rough idea of your home’s worth, they are not foolproof. The true value of Chicago homes depends on a variety of factors that automated tools simply cannot capture.

Connect with us---we're happy to help you accurately price your home and navigate Chicago’s competitive real estate market with confidence.