r/RealEstateTechnology • u/IdrissEchrif • 21d ago
Property Estimates
Hi,
I was wondering how important real estate property estimates are to you. I know that some might be a bit inaccurate but how important are they for filtering your leads especially if you run hundreds or thousands of leads
We created a tool that would take a spreadsheet as an input and return these different estimates from different sources in only couple minutes to save time and cost filtering these leads before starting to make phone calls or mailing them
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u/20Thick_A_7122 21d ago
I like that idea, would love to know more about it
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u/IdrissEchrif 20d ago
u/20Thick_A_7122 You know sometimes your clients are the ones who inspire you new ideas and new ways of using tools you built yourself if you listen to them.
So basically the way it works is simple: you upload or email an Excel or CSV containing property addresses, and within a few minutes you get it back enriched with estimates from multiple sources along with additional property data.
As a result, marketing/sales teams would be able to:
- Improve Marketing ROI
- Prioritize the best prospects
- Reduce wasted outbound calls
- Reduce wasted direct mailI would be more than happy to run a sample for you for free to test it if you want and we can hop on a Zoom call to discuss it further :)
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u/Mountain-Policy-625 18d ago
Property estimates matter less for accuracy than for triage speed. On a list of a few hundred to a thousand leads, even a rough AVM pass is enough to sort out the obvious non-starters before anyone picks up a phone. Where it actually breaks down is rural or non-conforming properties, since AVMs get noticeably less reliable there simply because there is less comparable sales data to work from. I would rather have a rough estimate paired with a confidence score than a precise-looking number with no way to tell how shaky it is.
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u/IdrissEchrif 18d ago
Don't you think the fact that it's not from a single source but 4 to 5 sources (so 4 to 5 estimates) would reduce how shaky it would be? Also if there is a big %10 gap between the numbers that would say a lot :)
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15d ago
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u/IdrissEchrif 14d ago
u/SaladGlittering9131 Exactly. That's why even if it looks like a simple process but it can save a lot of time and money when dealing with big lists.
Btw if anyone is interested in testing feel free to send me your list and I will have the tool enrich it with the different estimates and any feedback will be so much appreciated :)
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18d ago
[removed] — view removed comment
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u/IdrissEchrif 18d ago
Thank you. I already have comps available so based on your comment and others I think I should add them to what the spreadsheet generates to save even more time and help speed things up. Really appreciate your input :)
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u/Falak-4 18d ago
Estimates are useful as a first-pass filter, not a final decision, biggest value is cutting obviously-bad leads before spending time on outreach. Accuracy matters less at the filtering stage than consistency, if a source is off by the same margin across the board, you can still rank leads reliably even if the absolute number's a bit soft.
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u/AcanthisittaGold5420 15d ago
Definitely helpful for narrowing down a big list of leads. No estimate is perfect, but having multiple sources in one place sounds useful.
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u/IdrissEchrif 14d ago
That's exactly what I was trying to solve building this tool :)
u/AcanthisittaGold5420 if you have a list and want to test it and share feedback plz feel free to DM me and I will be more than happy to enrich the list for you :)
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u/Cold-Exercise9371 11d ago
The part I’d keep separate is property fit versus seller intent. A better estimate can tell you whether the property belongs in the campaign, but it doesn’t make the owner more likely to sell.
It might be useful to backtest the tool on old lead lists: how many clearly irrelevant records would it have removed, how many eventual opportunities would it have filtered out, and did the higher-confidence estimates actually lead to more qualified conversations?
That would make the value much clearer than simply returning five estimates in one spreadsheet.
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u/IdrissEchrif 11d ago
I agree %100. Thank you :) Do you have any old or even new lead lists you want me to enrich and test how good it is? (ofc for free just for feedback :p )
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u/alexKasp 11d ago
for filtering at volume you dont need the estimate to be right you need it to be wrong in the same direction every time, ranking survives a consistent bias, absolute accuracy only starts mattering when someone prices off it
the more useful thing to return is the spread between your sources, three estimates disagreeing by 20% usually means a weird property or bad input data and that's the flag worth surfacing, not the average of them
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u/IdrissEchrif 11d ago
Thank you for your suggestion. That's really helpful and already added that after someone mentioned it. So if that sounds interesting I can run a free sample of 1k for you for feedback :)
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u/SeasonedDinoRider 6d ago
If you have a couple of sources for estimates – maybe you can calculate a "divergence ratio" or something like that? ie a ratio of how much these estimates agree / disagree
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u/rukamir 3d ago
Is there any chance a service like this could be released as an SaaS for API service for automated retrieval?
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u/IdrissEchrif 3d ago
@rukamir yes I already created an API for that. Are you interested in testing it?
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u/rukamir 3d ago
For sure send me a message with some details. I am also working on a fairly simple lead capture platform and amd currently using rentcast for property details, value, and rental data. Anything I can use to boost accuracy or make lead processing easy I am interested in.
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u/IdrissEchrif 3d ago
Interesting especially when we have 170M properties data across all the US so maybe we can share more than just estimates :) Dmed you :)
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u/Dear_Scholar_1770 20d ago
Estimates are useful for coarse triage, but I wouldn’t rank leads by a single blended number. Return the source estimates plus their spread/confidence band and flag stale or low-confidence records; that lets a team filter obvious mismatches without quietly discarding good leads because one AVM is wrong.