INERNET BRANDS ANNOUNCES REALESTATEABC VALUES™
New Home Valuation Web Service Makes Do-It-Yourself Valuation Easier and More Accurate
LOS ANGELES (March 30, 2006) -- RealEstateABC.com, a division of Internet Brands, today announced the launch of ABC Values™, a free, powerful and easy-to-use online home valuation tool that complements the expertise offered by local real estate agents.
ABC Values ™ are derived from a database of approximately 60 million homes in the U.S. and 20 million recent home sale transactions. The no-obligation/no-registration service enables consumers to take control of the valuation of their home, using the latest home sales comparables and easy-to-use, but powerful customization tools.
"Our approach is to empower home owners and buyers with all of the data and tools they need to have a very informed view on the valuation of a property," said Bob Brisco, CEO of Internet Brands. "Real estate is often a consumer's largest asset, so it is critical to keep an eye on a home's changing value -- RealEstateABC's combination of precise valuation and owner customization options allows consumers to do just that."
RealEstateABC's service stands out from existing services in three important ways:
1. Accuracy: ABC Values™ utilize sophisticated appraisal techniques that are more sensitive to local market differences.
2. Customization: ABC Values™ increases the valuation accuracy by making it easier for consumers to customize the home value based on the owner's knowledge of improvements made to the home and how it differs from other homes in the market.
3. Real Estate Agent friendly: RealEstateABC includes an integrated directory of more than 5,000 real estate agents so consumers can also solicit the opinion of a professional.
The ABC Values™ tool allows consumers to customize the value of their home by including or excluding individual sales comparables from the valuation algorithm. Consumers also can modify the home value estimate based on their knowledge of how the home differs from other homes in the market for Interior or Exterior features, Views, Privacy, Building Square Footage and Lot Size. Finally, consumers are able to adjust the ABC Values™ based on how "hot" or "cold" the real estate market is in their area.
"People often have a lot of expertise to add to the equation that no fully automated appraisal can capture," said Brisco. "Our tools allow people to easily take control of the wheel."
Benefits for Local Real Estate Agents
ABC Values™ also has established a platform for homebuyers and sellers to discuss valuation with their real estate agent. While RealEstateABC does not require any registration or collect contact information from consumers, the site's agent directory lists prominent real estate agents in each market so that consumers can contact a professional to further refine their home valuation based on the professional's knowledge of local market conditions.
"We believe that 'right answers' on valuation are arrived at by teamwork between well-informed consumers and local real estate professionals," said Brisco.
David White, a Realtor® with Grabher & White of South Bay Brokers, Inc., in Manhattan Beach, Calif., believes the new tool will help his business. "ABC Values™ is a great tool for consumers and real estate agents. It will support my business by presenting my credentials to consumers who have begun the process of buying or selling a home by looking at valuation and now are looking for an expert to further refine that value and to develop a game plan."
RealEstateABC.com, launched in 1998, provides consumers with insight into how thing really work in real estate with straightforward analysis of market trends and "how to" guides. RealEstateABC.com also offers a directory of over 5,000 local real estate agents, as well as a free home valuation tool, ABC Values™, that enables consumers to track the value of their home.