The quest for automated valuation is a thirst unquenched, a fire that cannot be extinguished and seeming itch that cannot be scratched. Man is forever curious about the worth of an asset. Whether it is one’s home or one’s home on the web, curiosity slays its share of felines and we all have satisfied our secret urge to automatically valuate a time or two.
Did I mention that this Automated Valuation Model is for websites? (grin). Someone at REW pointed it out to me in their blog…here’s the link to it.
OK, ready for some fun? I took a look at some interesting sites to see their automated valuation as of today.
EriconSearch.com – My SEO blog VALUATION: $135,000 and change. Huh? (Think maybe the Greatest Real Estate Agent in the World contest skewed things a bit?) Methinks that is the case. I am officially willing to sell!
HomesinLouisville.com – Our brokerage Real Estate site… VALUATION $64,000 and change. Huh? Not on your life! This site is worth MULTIPLES of that! It generated many multiples of that in commission last year alone.
BloodhoundRealty.com – $553,807! Way to go, Greg.
TheBrickRanch.com – $71,307! Whaddya say, Teri? Deal or No Deal
Sean– is $10,500 and change fair for a website that POPS??
NOW FOR THE FUN ONE:
SO THAT’S IT PEOPLE I AM PASSING THE PLATE. Let’s take up a collection and buy REALTOR.com out once and for all!
By the way, if you are laughing at the ridiculous automated valuations of your website right now, or maybe you are angry, or maybe you just think it is stupid. What do you think homeowners are doing when they look at AVMs like ZIllow et al?
The REAL Valuation of a REAL Valuation– Priceless.
Thomas Johnson says:
At $10 a head for all Realtors, we can make a strong offer. Now tell me again what exactly was that extra assessment from NAR for?
April 1, 2008 — 6:03 pm
Todd Carpenter says:
mariah.com is apparently worth $429,624. I’m offering a 4% co-pay to anyone interested.
April 1, 2008 — 6:53 pm
Sean Purcell says:
Eric,
Where do I cash in my chips!
April 1, 2008 — 8:59 pm
Russell Shaw says:
At first I thought this might be an April Fool’s joke. Then I laughed out loud. It isn’t. Nice post, sir!
April 2, 2008 — 1:07 am
Eric Blackwell says:
@ Sean – Yep. I am looking for that as well! (grin)
@Todd – I am willing to match your terms for EoS – we need a GOOD agent to list…scratch that…MARKET these properties! We KNOW they are WORTH it (grin).
@Thomas – (grin) Exactly.
April 2, 2008 — 1:52 am
Wayne Long says:
Funny stuff Eric. We definitely need to buy Realtor.com.
April 2, 2008 — 4:15 am
Michael Cook says:
I spent a small bit of time with AVM models in business school and while you laugh at them they are freaking hard to create. It speaks more to human behavior and feeling than it does data points. It so hard to explain with data what price point someone will or wont pay for something. Why will someone pay $5 but not $6 or even $5.01. Or why will they pay $5 today, but only $4 tomorrow. Until we get some seriously faster computing, AVM models will always be a joke.
But dont tell that to many appraisors who actually use them in their valuation of a house…
April 2, 2008 — 10:35 am
Katie says:
It looks like yahoo is worth 605 million. That’s quite a bargain since Microsoft just offered $42 billion.
April 2, 2008 — 1:43 pm
Wayne Long says:
“It looks like yahoo is worth 605 million. That’s quite a bargain since Microsoft just offered $42 billion.”
Yea. Yahoo is just hoping that Microsoft doesn’t find that tool before the closing. 🙂
April 2, 2008 — 4:01 pm
Mike Farmer says:
My business site is worth only $33,343.00. I’m holding out for $36,525.00. I’ll just add a little porn.
April 2, 2008 — 4:46 pm
Eric Blackwell says:
@Michael Cook;
I agree. I respect the efforts of the AVM business analysts. A respect them enough to know that with current technology, there is simply NO way to get a serious and current valuation of all the homes.
There is no way IMO for them to evaluate the condition, and other ‘small ‘ factors that make up it’s value.
This was poking fun a bit, for sure, but many a truth is said in jest.
@Mike Farmer – too funny…
April 2, 2008 — 4:49 pm
Teri Lussier says:
My Make Me Move price is a cool million. 😉
April 3, 2008 — 2:32 pm
Joe Hayden says:
FWIW…Zillow is valued at $5,372,377.00. Google’s value runs off the screen! The fix is in…;)
April 6, 2008 — 4:42 pm