Manual Adjustments and Opportunities for Homeowner Engagement
There are some scenarios when Fello cannot generate a home estimate for some contacts. We're able to provide approximate home values for around 95% of known residential addresses in the U.S. However, there are situations where we can't generate a value due to insufficient real estate data. The factors include:
- Data Availability: AVMs rely on a vast amount of data, including recent property sales, tax assessments, and other factors to make accurate estimates. For some properties, this data might be limited or not readily accessible.
- Geographic Variation: The availability and quality of data can vary significantly by location. Properties in areas with high turnover and detailed public records tend to have more reliable estimates.
- Complex Properties: Unconventional or unique properties, such as historical homes or highly customized residences, may present challenges in obtaining accurate data.
In such cases, the best practice is to manually adjust the home value for that specific contact in your database. This can also serve as an excellent opportunity for you to reach out to the homeowner and engage in a meaningful conversation about their property. You can edit the CTA text
We have a detailed help article that walks you through how to do this: How to Update Home Value for a Seller.