We all know someone who is an expert at everything. If you have a question, they have the answer. We used to have a plethora of armchair experts, those who have harvested information from often unreliable sources. Those who haven’t lived it but seem convinced they have learned it. Well, now we also have to contend with AI experts.
I’m sure most of you have encountered AI assistance. From Chat GPT to Microsoft Copilot, there is a rapidly growing provision of Artificial Intelligence designed to answer our every question and query. Whatever your thoughts on this, it seems to be the future. Re-decorating a room - have a look at the results before it’s done, writing a presentation - input the subject and a few viewpoints and let the prose appear, got a house to value - there are obviously several internet providers who can help.
With all this said, however, is AI a suitable substitute for hands-on life experience and detailed local knowledge? When it comes to property value, I’m sure you’ve seen the TV adverts telling you that Zoopla can value your home for you. Well they can have a good stab at it.
The estimated valuations that are provided are simply that, an estimate. The clever part comes with access to Land Registry sold prices and recent property price trends related to the postcode you’re looking in allowing them to provide an educated guess to an area average. However, what these programmes can’t do is take into account the little, or sometimes large, changes to a property. Did you buy a doer upper and make it a home? AI can’t take this into account. Did you extend to accommodate a growing family? AI can’t assess the size of the extension.
To get a truly accurate idea of your home's value, you need to speak to an experienced and knowledgeable agent who has worked in the industry, the area and has the time served under their belt. They will be able to assess all the nuances of your home and provide an accurate and realistic value. It also won’t have a high and low range that is £100,000 apart!
At Poole Townsend, our team have years of experience within the property market and local knowledge to effectively market your home. AI can’t do everything (yet) so if you’re looking to sell your home, contact one of our offices and book a valuation.