How is the AVM or RVM® estimate range different from the AVM or RVM® estimate?

The Property Details page shows both an AVM or RVM® estimate (Estimated Home Value) and an AVM or RVM® estimate range. The range is based on the confidence score for the property’s estimated value. So a property valued at $100,000 with a high confidence score for the AVM might show a narrow range for the estimated value, such as $90,000-$110,000, while the same property with a low confidence score would have a broader estimate range, such as $70,000-$130,000. Because AVM estimates are not an exact science, the real estate industry frequently looks at the estimate range rather than the estimate.

 

 

Visit this Knowledge Base article for more information about AVM and RVM® confidence scores: http://support.narrpr.com/entries/183465-what-is-an-avm-or-rvm-confidence-score

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