What is a Desktop Appraisal?
DTA commonly referred to as (Desktop Appraisal), most real estate agents use this term to signify a property appraisal conducted on their computers or mobile phones using generic information provided by their property history software provider which all real estate agents have access too as this forms part of their roles to establish a preliminary market price on behalf of an owner contemplating selling.
The DTA gives an indicative price range of the properties potential sale price using previous sales history combined with similar properties within a predetermined distance within a relevant time frame, all this data is combined with current market prices and can be completed in just minutes.
A DTA is surprisingly accurate and in many cases is very close to the actual sale price apart from where there has been extensive renovations or substantive building added which sometimes is not reflected in the historical data information.
However most real estate agents will in their initial discussions with a homeowner ask these questions to gain a deeper insight into the properties features and attributes which will add value to the home.
With the advancement of portable technology and the incorporation of (AI) artificial intelligence, agents can now perform this task quickly and easily from their mobile phones, tablets, or PC in relatively short time without leaving the office.
A DTA is becoming more readily available on internet property advertising sites which is seemingly in competition with traditional real estate agents.
Which is considering many more subjective factors such as the properties orientation, quality of features and fixtures, property condition and any remedial maintenance or repairs required to increase the sale price and finally nothing can truly replace actual experience and most real estate agents have an abundant of experience.
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