At Blok we always strive to give the most objective assessment we possibly can of an apartment's value based on existing information.
Actual pricing of similar apartments
The valuations from our digital valuation tool are based on actual prices of similar apartments sold in your local area. The valuation will be more precise in areas where there are many apartments with similar properties and where many transactions are being made. Our valuation tool has roughly 5% margin of error while Stockholm in general has 4%. The margin of error describes how exact the valuation is and how much the price may variate.
The preliminary valuation gives us the basis for your home and gives you an overall picture of the value and our fee based on the final price.
Our price monitor will send you an email every three months with an updated valuation. This allows you to track any changes to the market and pricing which will help you feel more safe with the capital you have in your apartment.When selling your apartment with Blok you’ll always do an extra valuation with our real estate broker before listing. This will ensure that potential extra information will be regarded in the final valuation.
Difference in estimates from brokers
How come the valuation sometimes differ when the various brokers estimate the value based on the same data? This is reflected in the prices on Hemnet for example. Keep in mind that some brokers compete for signing a customer by raising their own estimation of value. High estimates should be considered carefully since it does not guarantee that the broker will be able to sell at the given price. It’s always best to ask for a detailed explanation and motivation behind the valuation since the estimate may not always be based on statistics.
Valuation based on data and statistics
At Blok we always strive to give the most objective assessment we possibly can of an apartment's value based on existing information. Our estimate will always try to reflect the potential market value as precisely as possible.
Since our valuations are based on a machine learning algorithm, the estimates are based solely on statistical factors. This helps to eliminate subjective distractions as much as possible. It also secures a consistent and comparable quality of our estimates.
When selling your apartment with Blok you’ll always do an extra valuation with our real estate broker before listing. This ensures that potential important information will be evaluated in the estimate. This may come from, for example, the apartments actual condition and documents tied to the apartment.