What does the estimated price range mean? Here’s how the changes couldWhatever your investment strategy, we have the right property developments for you. Let us know by ticking the box which applies to you. Then you can make up your own mind about how much faith you would place in an online property valuation estimate.The obvious difference between the two approaches is the amount of information available to property professional, compared to the lack of information available to websites. Until your solution can deal with both of these aspects, which will involve a high quality desktop valuation tool and a customer relationship management tool integrated into your website, I’d keep knocking on doors.And a percentage of those Agents will simply go with the RNG figure – or worse still, embellish it further skyward in the knowledge they won’t be the only ones doing it… The first thing is that the tool must produce a reasonably accurate result if you are to have any credibility. This new algorithm is correcting that error , and the homeowner doesn’t want to acknowledge the perceived drop. So, they have to rely on averages, which can inflate the prices dramatically of some properties and undervalue others. Zoopla House Valuation The second most popular property portal in the UK, Zoopla’s house prices page also offers a similar breakdown of sold values: After entering the postcode or road, you can access information on the average price paid, number of sales, current average value and percentage change. Receive personalised email updates on our latest properties. You can**uSwitch Limited is authorised and regulated by the Financial Conduct Authority (FCA) under firm reference number 312850. If you were the owner of this property you may think you had just hit the jackpot, but would be very disappointed. Enter your location of interest in one word, no spaces. Powered by Zoopla.co.uk. All of this information is then used, along with the many years of experience to provide a current market value.Whilst carrying out property valuations we are frequently confronted with the question “why is your valuation different to Zoopla?”If you would like any advice on selling your home, please feel free to give us a buzz on 01302 247754.All content ©2018 The Property Hive, all rights reserved.If we now compare the approach of a professional Estate Agent or chartered surveyor would use to value of your property. All rights reserved. Also available on short-term lets.Best places to invest in UK buy-to-let property during stamp duty holiday…Unlock members only investment opportunities and full development details. Will coronavirus impact my Zoopla House Price Estimate? Zoopla has launched a new tool which is aimed at driving valuation leads directly to agents. If a property is over-valued and follows the market down, the agent is liable for the initial bad advice on value.no matter what pertinent local proof you hand over of sold homes even if it’s three doors away because theirs is always bigger, better and newer! !“If customers wish us to remove their estimate we are happy to do so while we resolve their query.However, the valuations themselves – by Zoopla’s property data brand Hometrack – have come under fire from consumers.Some have complained that hundreds of thousands of pounds have been wiped off the value of their home overnight.At their very very best AVM’s are a guess based on  completions that are 2 or 3 months old for sales that were agreed 3 or 4 months before that on properties that were listed 2 or 3 months before that and valued before that. The Zoopla valuation model looks at the relationships between transaction prices and property characteristics like type, style, tenure, number of bedrooms, etc. ZPG stands for Zoopla Property Group. However Zoopla and the rest of these RNG “House Price Estimate” providers are facilitating the sh!te Agents to trade with the information they spew out – woefully incorrect though it be.One reviewer, Paul Curtis, said that Zoopla had revised the value of his property from £1,021,000 to £525,000 – a drop of 49% – in the space of 24 hours.Amazes me people think an algorithm will correctly value their home. It must be related to the new tool. . At a minimum the comparable is  6 months old but often 9 or 12 months. Massive rise in cycling in London and ManchesterUK housing market rebound has been faster than its decline post-Covid“We’d urge customers who are disappointed to contact us so we can look into their estimate in more detail. In a falling market that can get expensive; the agent is liable for the principal’s loss. Acacia Avenue or TW19 5NW. There are some streets in Doncaster where the prices can vary from as much as £77,000 - £640,000.Finally, experience of the local property market is essential to evaluate the impact of current demands and other local factors which can have a dramatic impact on the likely resale value of a property.