🏠 Property Valuation Discrepancies

If you’ve noticed discrepancies in the property valuation compared to market trends or what you expected, don’t worry! This guide will help you understand why property valuations may differ and how to address these issues for a more accurate assessment.

Getting Started

1. Log In to Your RealtyBlocks Account
   Go to www.realtyblocks.com and sign in using your email, mobile number, or Google account.

2. Access Your Dashboard
   Once logged in, open your Dashboard from the top-right menu. From here, you can view all your listings, offers, and property valuation reports.

Common Property Valuation Discrepancies and How to Fix Them

1. Price Difference Between AI and Market Estimates

• Issue: The AI valuation from PropGauge™ doesn’t match your expectations or market prices.

• Fix:

  • Ensure your property details are correct (e.g., size, amenities, location).

  • Use PropGauge™ to compare similar properties in your area and ensure the valuation is based on accurate comparables.

  • If your property has unique features (e.g., high-end finishes or premium location), this may not be captured in the AI model. Consider requesting an expert valuation through ServiceMate™ for a more detailed assessment.

2. Property Overvalued or Undervalued in High-Demand Areas

• Issue: Properties in rapidly growing areas may be undervalued or overvalued due to fluctuating demand.

• Fix:

  • Use MarketLens™ to get insights into the latest trends, local amenities, and future infrastructure projects.

  • Adjust the pricing based on the locality growth score provided by MarketLens™. Properties in emerging neighborhoods might see price spikes that AI tools may not fully account for yet.

3. Variations Between RERA Value and PropGauge™ Estimate

• Issue: There’s a difference between your property’s RERA value (if applicable) and the AI-generated valuation.

• Fix:

  • RERA valuations are often based on regulatory standards, which may not always align with market conditions. Compare your RERA ID with the PropGauge™ estimate and check for significant differences.

  • Consult a local real estate expert if needed to understand if the regulatory valuation aligns with the local market.

4. Inconsistent Valuations for Newly Renovated Properties

• Issue: Renovated properties may be undervalued due to limited data on recent upgrades.

• Fix:

  • Ensure your property description reflects all renovations and upgrades. Update your listing with high-quality photos and details about any recent work.

  • PropGauge™ relies on historical data, so if your renovations add significant value, consider requesting a valuation from an expert through ServiceMate™.

5. Outdated Property Details Impacting Valuation

• Issue: If your property details (size, amenities, age, etc.) are outdated, it can lead to incorrect valuations.

• Fix:

  • Regularly update your property listings in My Listings with the latest data. Ensure that Super Built-Up Area, Carpet Area, and other key metrics are accurate.

  • Make sure that your property’s location and road-facing width are correctly entered, as these can impact the valuation.

What Happens After Resolving the Valuation Issue

• Accurate Price Estimate
  Once discrepancies are resolved, the valuation will be aligned with the current market conditions and your property’s true worth.

• Updated Listing
  After updating details or revising the valuation, your listing will be re-validated for buyers and leads based on accurate pricing.

• Faster Deal Closure
  A corrected or expert-backed valuation will help you gain trust from potential buyers, leading to quicker property transactions.

Common Issues & How to Resolve Them

Still Not Satisfied with the Valuation?

• If PropGauge™ still doesn’t meet your expectations after updates, consider consulting an expert through ServiceMate™ for a customized valuation.

Confusion Over Market Prices vs. AI Valuation?

• Use MarketLens™ to compare your listing with similar properties in the same neighborhood to see if your pricing aligns with market trends.

How to Edit or Manage Property Valuation Details

• Edit Property Details

  • Go to My Listings and click Edit to update property details like size, location, or amenities. This will automatically update your valuation.

• Request an Expert Valuation

  • If you want a more detailed or precise valuation, go to ServiceMate™ and request an expert appraisal. You'll receive a custom report based on your property’s specifics.

By following these steps, you can ensure that your property’s valuation is accurate and aligned with market conditions, helping you make informed decisions and close deals faster.