MadValorem helps you learn about local neighborhoods and schools and connects you with a real estate agent to close the deal. With over 100 million property records across USA, MadValorem helps you find properties for sale, comparable homes, sales history, property features, and much more. Find your new home with MadValorem

1. How much information is too much?
Technology continuously reshapes our lives, and as a result, parts of the real estate
buying process have fundamentally changed. The information age has brought with
it constant connectivity to friends, family, and a vast wealth of knowledge. With
92% of people starting their search online, industry insiders work to find innovative
ways to offer the best experience to users. At the route of the battle for online
supremacy is information, both quality and quantity. But how much information is
too much?
Arguably the two most influential sites in the online real estate space, Zillow and
Realtor, have focused expensive marketing campaigns around the idea of
information. Realtor plays up their data accuracy, while Zillow offers informational
advantages such as school zone searches and property value estimates.
Other competitors, such as trulia and estately, seemingly offer as many bits of
information for a property as they can fit on the page. Trulia for example lets users
analyze crime risk in the area, calculate your commute, and even preview your
monthly mortgage payment. At what point does the information become a burden
instead of a boon?
One example of problematic information is Madvalorem’s tax assessment
information. Even though the number is clearly labeled as a tax assessment, people
frequently believe it to be the price of the home. This causes confusion and
sometimes even leads to frustration and anger for consumers.
Another problem that agent’s frequently voice concern over is the inaccuracy of
automated property valuations, like the Zillow Zestimate. Buyers and sellers
believe that the Zillow Zestimate is a number they can hang their hat on, but what
they don’t understand is that the Zestimate cannot possible account for the unique
specifics of every home and area/region. Actual market value can vary wildly from
the Zestimate, yet consumers are left scratching their head when you tell them it
isn’t right.
Some real estate sites even offer neighborhood demographics and average
income levels. Offering this type of information skirts a line that real estate agents
cannot cross. Agents have to be very careful not to steer their client’s with this
type of information which was made clear through the Fair Housing Act. Moreover,
brokers cannot use this same type of information to redline their service area. Yet,
online real estate sites offer this information in conjunction with listings.
The question of how much information is too much may not have a straight forward
answer, but it is a question worth asking. Sure, some advanced users benefit from
having a wealth of information on listing pages. On the other hand, the average
buyer may become frustrated and overwhelmed, and in some cases, perhaps even
steered or misled by online real estate sites.