Licensed Florida real estate brokerage
What does it mean when an automated online estimate disagrees with an agent's opinion?
A straight answer from a licensed Florida real estate brokerage — then what you can check yourself and when to bring in a licensed professional. Free consultation: (888) 440-3766.
It usually means the two are working from different information. An automated estimate is produced by software from public records and past sales without anyone seeing the home, while an agent's comparative market analysis (CMA) adds condition, updates, and what is happening with active and pending listings.
Neither one is an appraisal, and the gap alone does not tell you which is closer to what a buyer would pay. Treat the difference as a clue about what the software may be missing, then check those details. What a home actually sells for depends on the buyers, the condition, the contract terms and the market at that moment.
Why the numbers differ in Florida
Florida homes carry value factors that a formula often cannot see. Roof age and condition, flood zone and elevation, insurance availability and cost, and documented wind-mitigation features can all change what buyers will pay. An automated tool may treat two similar-looking houses as equals when one has a newer roof and impact-rated openings and the other does not.
Condominiums add more. Association fees, reserve funding, milestone inspection findings, structural integrity reserve study (SIRS) results and any special assessments can move buyer demand a great deal, and they rarely show up in a public-record estimate. Florida's housing stock also ranges from mid-century homes to post-2002 Florida Building Code construction, and those can carry different insurance and wind-resistance characteristics.
Public data can also mislead. Assessed value from the county property appraiser is not market value, because homestead and Save Our Homes caps can leave the two far apart, and a buyer's taxes may reset after a sale. Records can be out of date on renovations, additions or square footage. Questions like this tend to come up after TRIM notices and tax bills arrive, and again before the spring selling season.
What you can check yourself
Review the property record
Look up your parcel on the county property appraiser's website and confirm bedrooms, baths, square footage and year built. Errors in those basics can skew an automated estimate.
Compare recent nearby sales
Look at recently sold homes similar in size, age and condition, and note how they differ from yours. Also look at active and pending listings, since those show what buyers are weighing today.
Check the flood zone
Find your FEMA flood zone designation. A lender generally requires flood insurance in a Special Flood Hazard Area, and that can affect buyer demand.
Gather insurance and roof documents
Collect your roof age information and any wind mitigation form (OIR-B1-1802) or four-point inspection. Ask your insurance agent how these affect coverage.
For condos, read the association documents
Ask the association for the budget, milestone inspection and SIRS reports, and any special assessment notices. Verify details with the association itself.
When to bring in a licensed professional
If the gap is large, or you are deciding whether to list, price a purchase or set an offer, a CMA from a licensed professional is the next step. Florida licensees may prepare a CMA or broker price opinion for a client in the ordinary course of business. A written broker price opinion should state that it is not an appraisal. If you need a formal valuation for a lender or a legal matter, that has to come from a state-licensed or certified appraiser.
Call us at (888) 440-3766 or send the form on this page. Premier Real Estate Group Inc or a licensed agent we refer you to will contact you by phone or email. The consultation and CMA are free and carry no obligation. For legal questions about contracts, disclosures or association rules, a Florida real-estate attorney is the right person, because we are a brokerage, not a law firm.
Premier Real Estate Group Inc is a licensed Florida real estate brokerage (broker license BK3314523). Verify at Florida DBPR.
What a licensed real-estate professional will do
- Select true comparablesWe pull recent comparable sales, plus active and pending listings, and choose those that match your home's type, age and location.
- Adjust for condition and updatesWe account for what the data cannot see, such as the kitchen, the roof, impact windows and overall upkeep.
- Factor in Florida-specific driversWe consider flood zone, insurance and roof age, wind-mitigation features, and for condos, fees, milestone and SIRS findings and special assessments.
- Explain the gapWe walk through why the automated figure and our opinion differ, so you can see what is driving each.
Related questions
- Is a comparative market analysis the same as an appraisal?
- No. A CMA is an opinion of value prepared by a licensee from comparable sales and listings. A lender-required appraisal must be done by a state-licensed or certified appraiser.
- Does my assessed value from the property appraiser show what my home is worth?
- Not necessarily. Homestead and Save Our Homes caps can keep assessed value well below market value. Verify your exemption and assessment details with the county property appraiser.
- Should I price my home from an online estimate?
- An automated figure is a starting point at most. Pricing should reflect condition, comparable sales, current competition and the factors specific to your property, which a CMA is built to weigh.
- Why would a condo estimate be especially unreliable?
- Association fees, reserves, milestone inspection and SIRS results and special assessments can change buyer demand but are not always captured by software. Buyers should ask the association for its reports.
- Does it cost anything to get an agent's opinion of value?
- Our consultation and comparative market analysis are free, with no obligation. Call (888) 440-3766 to request one.
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Licensed brokerage
Premier Real Estate Group Inc
Broker of record Maxim Bohadana, Florida broker license BK3314523
(888) 440-3766