One of the biggest challenges today for agents is contending with “values” consumers get from AVMs (Automated Valuation Models), such as Zillow® and Trulia, which are now merged. Buyers and sellers “know” that this information is correct—but professionals know that this information is often flawed. On top of that, lenders are using AVMs to second guess appraisers, as well as using CU® (Collateral Underwriter) to challenge appraisers. Agents need to be on the top of their game to be able to explain, and demonstrate to consumers why a value from a local REALTOR® is much more reliable than a “zestimate” or other online value. We will also discuss how REALTORS® have access to, and can use RPR® (REALTORS® Property Resource) to provide accurate data to their consumers.
This course has been approved by the MN Commissioner of Commerce for 1.5 hours of Real Estate Continuing Education.