Automated valuation models (AVMs) accessible via the internet offer preliminary assessments of unimproved real estate by considering factors such as location, size, and comparable sales data. For instance, a user might input an address and acreage to receive an estimated market value. These tools provide a convenient starting point for understanding the potential worth of a property.
Access to readily available property valuations empowers landowners, prospective buyers, and real estate professionals with valuable market insights. Historically, obtaining such information required costly appraisals or extensive research. These digital resources streamline the process, enabling quicker decision-making and potentially facilitating more efficient market transactions. Such tools can also contribute to greater market transparency by providing easily accessible valuation data.
