Displaying Multiple AVM Trend Chart with Confidence Level
This new feature allows the display of multiple Automated Valuation Model (AVM) values for contacts, all in one comprehensive Home Value Trend Chart. This feature provides a display of home values over time from more than one AVM, empowering agents and their contacts with valuable insights to make more informed decisions.
Highlights
1. Dual Trend Lines:
- What it is: When data from more than one AVM is available, each AVM’s values are displayed as separate trend lines on the home value trend chart.
- How to use it: The trend lines are differentiated using distinct colors or patterns. A legend indicates which trend line corresponds to which AVM provider.
- If data is unavailable: If only one AVM has data available, a single trend line is shown. If no AVM history values are received from either provider, the graph will not be shown.
2. AVM Confidence on Hover:
- What it is: This feature provides a tooltip displaying the AVM's confidence level when the contact hovers over a point on an AVM trend line.
- How to use it: The confidence levels are categorized as high, medium, or low. An information icon next to the confidence level provides a tooltip that explains what each confidence level means.
FAQ:
What goes into calculating home valuation data?
These models factor in essential property characteristics, local market trends, and pricing data to provide a possible estimate of a home's current market value.
Is this an appraisal?
The home valuation data points provided are not formal appraisals, but rather estimates. They aim to offer insight into the potential value of a home, serving as a jumping-off point.
How often is the home valuation information updated?
The home valuation estimates are updated frequently as market conditions change.
I believe the estimates on my contact's property is incorrect. Is there anything I can do to change that?
These are automated valuation data models provided by two different companies – ATTOM and CoreLogic®. You can always update the AVM estimate for the contact from Connect Property page for the contact.
Why do we provide multiple estimates?
Since many input sources go into each calculation, property value estimates can vary from one source to the next. Although no automated model is 100 percent accurate, viewing data from multiple sources gives you a more complete picture of a home's potential value.
What happens when I adjust the home value estimate for a property?
Agents can manually adjust the home value of a property from Connect Property page. The trend lines visually merge at the point of adjustment. Each AVM's future values are corrected based on the adjustment percentage, calculated individually for each AVM.