After reviewing over 80 Real Estate Valuation Tools, the 5 tools below provide data and insight in a way that we have never come across.
We believe each and every tool is worth a serious look.
What are real estate valuation tools?
Real estate valuation tools are software applications or online platforms that help determine the value of a property. These tools use various methods and data sources to provide estimates or insights into the market value of a real estate asset. Here are some common real estate valuation tools:
What are the 5 best real estate valuation tools?
NeighborhoodScout.com
This may be one of the most unique tools we’ve ever come across.
Basically, it profiles a current property with a known value using 200 data points.
It then shares locations in and out of state that carry those same or similar data points. For example, let’s say you just hit a home run with a fix and flip and you now want to hit a home run time after time.
NeighborhoodSchout shows you the chemical makeup of that home run property and more importantly, the neighborhood, surroundings and history.
This tool quite literally sees into the future.
If you are looking for a tool from this list that can give you data that you have never seen or heard of before, NeighborhoodSchout is that tool.
HomeLight.com
HomeLight is unique in one major way. It forces the property owner to put in data that only they, the property owner, would know. It is the combination of your answers with local market data that gives this unique app a special place on our list.
After the tool establishes a baseline value of your home with their own algorithm, HomeLight takes it a step further. We all know a property is only as valuable as someone is willing to pay for it. HomeLight marries that in as a second baseline for establishing value. Homelight asks their nationwide network of buyers to make a real offer on your property. These buyers quite literally compete for your property. HomeLight then presents you not just with an evaluation, but an actual offer. There’s even a third step where you can guided to a local agent if interested.
Combining the owner’s personal insights of the property with real-time property bidders makes this tool a “Must-Add” to our 5 Best Tools list. We will be recommending HomeLight’s tool in many of our upcoming courses.
HouseCanary.com
HouseCanary is known for curating and carrying some of the most timely and relevant home data of any company.
HouseCanary has literally decades of data stored on its servers.
This data, combined with intelligence sweeping AI built to gather the most current data makes their tools a “Must Try”.
Taken right from their website:
Algorithms best suited to finding the signal in noise
The complex and scattered nature of real estate records makes research and analysis challenging. Our artificially intelligent algorithms analyze a vast array of data and synthesize meaningful insights from those diverse inputs.
Software that 
improves itself
The residential real estate industry is always growing and shifting. The analytical machines that we build are powered by machine learning — continually improving their own performance based on new data.
Intelligent image recognition
The time it takes to have people review images adds up to significant spending. Our engineers have trained our neural network to identify the type of room shown in an image and assess home condition based on photos.
With HouseCanary’s decades of data combined with their AI gathering of new info makes this tool a sure bet to make our “Top 5 Evaluation Tools” list.
SmartAsset.com
We almost chose this tool as our number one tool. For one, many people have not heard of this tool and it provides an invaluable service to home buyers of any age and financial standing.
This is just one great tool that we are shocked more real estate educators are not using in their trainings.
What truly makes this OWN VS. RENT tool special is its clear decision making guidance. How many home owners wish they could go back in time and use this tool on each of their prior purchases.
As many of us know, home ownership does not always equate to owning an asset. Many legendary real estate educators have shared that a first home is almost never an asset, it’s a liability. This tools shows exactly why this is the case. We will be using this tool often in our future courses.
ClearCapital.com
Although definitely for the more advanced real estate investor, we had to mention ClearCapital’s tool set. 47 of the top 50 lenders use ClearCapital’s evaluation tool. Check out their tool chest and get an inside advantage. Know what they are looking for in your property and loan documents.
Some say, knowledge is power. In this case, knowing exactly what everyone about to touch your mortgage may want to see, is pure gold.
Clear Capital’s transparent process works to provide you visibility and certainty into an industry that has struggled with both in the past. We pull you out of appraisal limbo and into a place of clarity and understanding. Our nationwide panel of appraisers tap into their expertise to deliver clear, easy-to-understand reports while providing you with updates every step of the way.
We designed our pre-check submission process to eliminate the back-and-forth that consumes valuable time in standard appraisals. We blend a human touch with leading edge data analytics to ensure your total satisfaction.
Ordering appraisals has never been easier with our simple web interface. Check on your order status at any time, then share your report files with your key stakeholders.
Whether you’re funding a conventional loan, a refi, a HELOC or making REO decisions, Clear Capital’s residential and commercial appraisal management services deliver exactly what you need, when you need it. We understand that customers have different needs – from simple to complex. Clear Capital’s appraisal management group focuses on customizing a solution that recognizes what’s most important to you – your customers.
Why not deliver exactly what your bank wants to see on a silver platter.
We are going to begin recommending ClearCapital to all our advanced real estate students.
