Blog Stories What's the "A" (in A.I.) Really Stand For?

What’s the “A” (in A.I.) Really Stand For?

By Chad Meier, May 16, 2018

The pictures were captured. The words were written. This was not a “luxury” home. Conventional wisdom suggested that’s as far as it might’ve needed to go. After all, it’s how a majority of properties in this price range are represented in the market on a daily basis.

And yet, no…

This was a unique and charming place, and the only way to show off this particular client’s listing in its full glory (like it deserved) would be with a well produced, emotion evoking video.

So we got to work > Click https://sepdxhomestead.relahq.com for video link.

You can make your own judgement, but in the end, this 2+ acre Pleasant Valley property was the only one of its kind (in some time) to get under contract within a week of being listed.

And what of price? Well, I can tell you that we did not try to draw attention by undervaluing the property (an occasionally sound tactic)! In fact, it was strategically listed for exactly what our research suggested buyers might feel it was worth ($450k).

Also of note was the disparity in the final sales price it actually fetched, compared to what the artificial intelligence tools at Zillow, Redfin, Realtor.com, Movoto & Trulia placed its value at.

Let’s take a look at what the robots had to say…

 

To recap:

  • $411,906 [Zillow]
  • $394,643 [Redfin]
  • $404,911 [Trulia]
  • $435,400 [Realtor.com]
  • $402,668 [Movoto]
  • $377,100 [RMLS]

That’s quite a variance of opinion there HAL!

 

Cut to the end of our journey…

We closed this sale today for $470,000.

 

So that makes it People 1, Robots 0.

And it reinforces my confidence that the role we humans play in the business of real estate is still alive and vital.

For today at least ;^]

Of course, that’s just one organic opinion.

Chad Meier

Licensed Oregon Broker

Hello, I’m Chad: Licensed Real Estate Broker, native Oregonian, photography aficionado, lover of old houses, friend to all animals, and powered by analytical data. As a member of the National, Oregon and Portland Metropolitan Associations of Realtors, I'm proud that my profession allows me to use the tools I've acquired over the past 20+ years (client advocacy, sales & marketing, conflict resolution, et al.) to help people on a daily basis. Bottom line… I love the work! Through personal experience, I understand that buying or selling a home is more than just a business transaction; In fact, it can often be a life changing event! This is why I’m dedicated to providing exceptional service for my clients when it’s time for them to make their move. On the listing side; I believe that every home, no matter how modest or grand, deserves to make the best possible first impression on a would-be buyer. This is why I’m aligned with our area's preeminent independent real estate brokerage (Living Room Realty) to offer every property the most compelling & relevant marketing available. It also means that I’ll never represent your home online with a smartphone picture ;^) On the buying side; I personally work with every client - no handing you off to a junior team member of a team - to ensure that we work toward your goals together and don’t fall prey to some of the pitfalls that buyers can face in today's heavily weighted market. In short, I can help you win! Above all else, I pledge to be a strong advocate for my client’s interests and promise to work relentlessly to help them achieve their real estate goals. After all, I believe that if you’re not left with an amazing experience, I haven’t done my job. Speaking personally, I’ve been connected to this great city and its surrounding areas since childhood. Most recently, my family (wife Shawn, son Jakob, mother Glenna, and mutts Juno & Dizzy) have lived in the vibrant Sellwood-Moreland neighborhood for the past 14 years. When not at my desk or in the field helping clients, you’ll likely find me trying to capture a compelling scene behind my camera lens, playing basketball wherever I can find a pickup game, or combining these two passions by photographing my son’s high school basketball team in action (GO WARRIORS!). And on occasion, you may even find me at any number of our city's finer dining establishments, searching high and low for a bartender who knows the recipe for a perfect Roman Holiday ;^) Whether you have a plan to buy or sell (or simply need to develop one), please feel free to contact me. I look forward to understanding your goals and helping you achieve them! I can be reached at 503-709-9600 -or- Chad@PortlandHomeBase.com
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  • T: 503-709-9600
  • F: 503-961-8224
  • thechad@livingroomre.com

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