More proptech news from StreetEasy. The NYC-based real estate listing platform is launching an automated valuation model (AVM) tool. This new product will help homeowners make a more accurate valuation of their home in preparation for selling it.
StreetEasy’s AVM differs from its parent company’s Zestimate tool as it is not public-facing and will only be available to homeowners per request.
Doug Perlson, StreetEasy’s Vice President of Real Estate Strategy and Operations explained that the New York City housing market is unique and needs special-made technologies to gather the most accurate information. The AVM is here to do just that.
However, StreetEasy has stressed that the new tool is not an appraisal tool, but a starting point for sellers and should be coupled with other tools offered by StreetEasy.
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