Determining a closest estimated market value of a real estate property
Abstract:
The disclosure is directed to determining, among a number of estimated market values of a real estate property, an estimated market value (EMV) that is closest to an EMV computed by an application (“application-computed EMV”). The application receives a property profile from a user, e.g., a seller, having pictures and description of a real estate property, e.g., a house. The application publishes the property profile to multiple member agents, e.g., real estate agents, who can provide an EMV of the real estate property based on their opinion. The application determines the application-computed EMV based on a variety of property data, e.g., sales and/or tax history of the real estate property or other related real estate properties, obtained and/or derived from various third party systems. The application then compares the application-computed EMV with member agent-provided EMVs to determine a member agent-provided EMV that is closest to the application-computed EMV.
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