The Online Estimate Myth: Why Algorithms Can’t Replace Local Expertise

Host: Welcome to Market Matters with WVMLS, where we get real about real estate in the Willamette Valley. I'm Dave Pautsch of RE/MAX Integrity. Our local Willamette Valley Multiple Listing Service, or WVMLS, is a powerful but often misunderstood real estate resource. It's the decentralized marketplace bringing buyers and sellers together locally since 1949.

We're continuing our six-week series on busting the myths in real estate. This week: the myth of the online estimate of value. Many real estate websites offer home value estimates. You click on "find out what my home is worth" and you'll get an average based on broad statistical information from the MLS.

These estimates should not be confused with an actual property valuation, which is something that appraisers do. When thinking of buying or selling, there's a third and much more appropriate way to evaluate pricing: a Comparative Market Analysis, or CMA, something you get from a local WVMLS member broker. With an emphasis on analysis, your agent can provide a statistical average and also hyper-local market conditions using truly comparable sales.

Real-time market data, and accounting for everything from your recent kitchen remodel to local buyer trends, the CMA is an essential tool in your real estate toolkit. For sellers, this means pricing your home competitively for the local market. That could mean less time on market and more money in your pocket. For buyers, it means tailoring your offer to what the market will support without leaving money on the table or, worse, losing out on your dream home.

Well, that's all the myth-busting we have time for today. Just know that online estimates can be helpful, but they can also be way off. A detailed CMA provided by your local agent is going to provide a much more nuanced and accurate guide that matches your strategy for success. Thanks for joining us for Market Matters with WVMLS where we get real about real estate in the Willamette Valley. I'm Dave Pautsch of RE/MAX Integrity. Join us again next Monday in the noon hour for local real estate statistics from the Willamette Valley MLS.

Learn more at wvmls.com.

The Buyer Rep Myth: What You Need to Know Before Your Next Home Tour

Host: Welcome to Market Matters with WVMLS, where we get real about real estate in the Willamette Valley. I’m Dave Pautsch of RE/MAX Integrity. Our local Willamette Valley Multiple Listing Service, or WVMLS, is a powerful but often misunderstood resource. It’s the centralized marketplace bringing buyers and sellers together since 1949.

Today, we're continuing our six-week series on busting the myths in real estate. And today's myth is that a real estate agent can show a buyer homes without a contract. In fact, starting in January 2025, House Bill 4558 requires a written buyer representation agreement before an agent can work with a buyer.

That means before the broker can start showing you homes or giving you advice, you have to sign a buyer representation agreement. However, this is not to force you into a premature commitment. Instead, it's actually a boon to buyer's choice.

Through these contracts, buyers can now negotiate with their agent how long they want to work together, what the agent’s commission will be, and even gives the buyers the opportunity to discuss whether they’ll pay their broker themselves at closing or if it might need to be included as a seller concession.

Importantly, a buyer representation agreement also clearly lays out what your agent is committed to doing for you.

The truth? This agreement doesn't tie your hands. It enforces buyer choice and ensures your agent is fully committed to helping you make one of the biggest decisions of your life.

Thanks for joining us for Market Matters with WVMLS, where we get real about real estate in the Willamette Valley. I’m Dave Pautsch with RE/MAX Integrity. Join us again next Monday in the noon hour as we tackle the myth that an online estimate can accurately determine your home’s value.

Until then, learn more at wvmls.com.

Real Estate Mythbusting: Why Big Portals Aren't Enough in the Willamette Valley

Host: Welcome to Market Matters with WVMLS, where we get real about real estate in the Willamette Valley. I'm Dave Pautsch, a RE/MAX Integrity. Our local Willamette Valley Multiple Listing Service, or WVMLS, is a powerful but often misunderstood resource. It's the centralized marketplace bringing buyers and sellers together locally since 1949.

Today kicks off our six-week series on busting the myths in real estate. The myth that only the big name real estate portals matter is our subject today. This myth takes a couple of forms. Sellers, for example, think, "If I list my home on the biggest portal, it'll sell without local exposure." Buyers think they can just shop online. "I don't need a local agent."

Let's address the sellers first. Yes, big online portals do get traffic, but not the traffic that matters. Most buyers work with a broker. So, you need WVMLS exposure to get the thousands of Linn and Benton brokers working on your behalf—brokers who only get paid if they find a buyer for your home. Choose a WVMLS member broker to avoid falling prey to this myth, which can cost you time and money.

The "only big portals matter" myth hurts buyers, too. Online portals get their data second-hand from local MLSs. For Linn and Benton specifically, Willamette Valley MLS is the source of real estate listings and sales. Buyers, ask your local agent for access to the WVMLS Collab Center. You'll get deeper info than on a big portal, with property matches tailored to meet your needs in real time.

I'd call that myth busted. Big portals are great, but local is what matters in real estate. Thanks for joining us for Market Matters with WVMLS, where we get real about real estate in the Willamette Valley. I'm Dave Pouch of RE/MAX Integrity. Join us again next Monday at noon for local real estate statistics from the WVMLS.

Learn more at WVMLS.com