ClearProp also includes ClearAVM (another product that Clear Capital offers) to help review or estimate a value on a property. Along with ClearAVM, ClearProp utilizes the same logic that powers ClearAVM to help estimate a property value. Instead of diving into the boring logic, let’s take a look at the difference between the two estimated values.
ClearAVM is a model or computer generated estimated value on a subject. ClearAVM is a lending grade model trusted and used by many in the industry. Subject estimated value in ClearProp calculates a value based on the selected comps. Using the sales comparison approach, users can select whichever comps best support their understanding of the subject and ClearProp will estimate the value.
This is very powerful because all the data inside a D-I-Y property estimate tool (ClearProp) any lending professional or real estate professional can now confidently estimate a value on a property.
To calculate an estimated value on a property:
- Go to the Comparables tab
- Review the comps from the list (or reset your comp set):
- Select comps that best align with the subject property
- See the estimated value calculate in real-time
NOTE: If ordering ClearProp from secure.clearcapital.com, customers can disable the ClearAVM. Some customers have asked to disable ClearAVM because they do not want to be influenced by an AVM model and instead estimate a value based on their own research. If ordering from the portal, this option is not available.