Thursday, May 2, 2013

Redfin Launches Home Valuation Tool

Algorithm? We don't need no sticking algorithm! Redfin says to forget the complicated software algorithms or "magic formulas" with its newest feature, a home valuation tool, which it says lets its users value their houses like an agent would. Redfin said the new Home Value Tool lets users pick comparable sales in a neighborhood, make some adjustments, and spits back a price--exactly how agents go about figuring out the price of homes. In a jab to Zillow, Redfin says that the tool is "more than a black box that spits out a number" and takes advantage of local agents, instead of a "number crunching computer hundreds of miles away."