84
%
The percentage of automated models that automatically reject homes deviating from zip code averages.
Exactly of automated valuation models-the algorithms powering the “instant offer” and “flat-fee” empires-are programmed to automatically reject any residential property that deviates more than from the average lot size or architectural footprint of its zip code.
I spent this morning picking damp, oily coffee grounds out of the crevices of my keyboard with a toothpick. It was a tedious, granular punishment for my own clumsiness, a reminder that the world is messy and rarely fits into the neat, sleek slots we design for it.
This is particularly true when you step outside the world of the “suburban template.” In the real estate market, we are currently obsessed with the illusion of the frictionless transaction. We want the “Add to Cart” button for our homes. We want a machine to tell us what we are worth so we don’t have to talk to a human who might tell us something we don’t want to hear.
But then there is the water.
Imagine a Tuesday night in Indian Harbour Beach. A homeowner-let’s call him David-is sitting on a leather couch that has seen better days. His laptop is warm against his knees. He’s curious. He’s seen the commercials about “selling your home in three clicks” and
