Why can’t AI (Artificial Intelligence) price Boston condos for sale correctly?
Boston Condos for Sale and Apartments for Rent
Why can’t AI (Artificial Intelligence) price Boston condos for sale correctly?
It is true we have numerous tools we can use for placing a value on Boston condos for sale. I use them sometimes but always in conjunction with my own analysis. My analysis is always closer to the actual sale price than any of the auto valuation tools.
Auto-valuation tools are useful for a rough estimate or a starting point for finding the value of Boston condo.
I have more than 20 years of experience pricing Boston condos for sale and figuring out how much they will sell for. Experience is a great teacher. Especially, learning from our mistakes.
There aren’t any two Beacon Hill or Back Bay condos that are exactly the same, Even if they are very similar they are not on the same location in the building,
In addition, to tools and data experience, there are things that I can see and know and understand about how people renovate their condominiums that may command more or less money depending upon intangibles views, traffic and such.
The basics for pricing residential properties is to find three comparable condo that are close by and that have sold recently. Often the comparable homes are similar but not exactly the same. The three biggest factors that will determine value are location, size, and condition.
Pricing a Boston condo for sale requires a hands-on-approach that artificial intelligence doesn’t have.
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