All the terms of our Estimates

Bandit Sign

12345 East 8th Street, Brooklyn, NY 11230

E1 = $1,415,000
E2 = $1,903,438
E3 = $1,167,500 ($1,479,000 + $856,000)
AV = $1,495,313

AP = $955,000
OP = $1,295,313

(Good 36%)

John Doe
Century 21 Brooklyn
(123) 456-7890

What are all these terms?

Bandit Sign = The source of where the lead was found.

12345 East 8th Street, Brooklyn, NY 11230 = The full address of the property. It is also your job to fully investiage and see it.

E1 = $1,415,000 = (E1) Estimate 1 = An internal algorithm of 3 estimates we use from government agencies, not Zestimates (from Zillow) or similar sites as they use systems that are easily manipulated.

Case in point: Select any 3 neighboring properties near the property you are interested in Zillow, input those 3 properties (as the owner) with a fictitious value, then see the value of the all those properties in that area drastically increase.

E2 = $1,903,438 = (E2) Estimate 2 = The average estimated value of the property in the last 12 months of 10 properties sold within the desired location with similar pricing and square footage.

E3 = $1,167,500 ($1,479,000 + $856,000) = (E3) Estimate 3 = The average estimated value of the property in the last 12 months of that specific street utilizing the highest and lowest home sold.

AV = $1,495,313 = (AV) Average Value = The average of the E1+E2+E3 put together.

AP = $955,000 = (AP) Asking Price = The price the Agent or Owner is asking for.

OP = $1,295,313 = (OP) Offer Price = This is the maximum suggested (OP) Offer Price. This is your maximum margin of contingency in case of a bidding war or if more renovations is required on the property.

In conclusion: It is the Average Value (AV) minus $200,000 renovation cost. Why $200,000? = This is the average Brooklyn 2017 renovation cost + the average closing fees.

(Good 36%) = (Good X%) = A “Good” property, with a positive percentage in negotiating from the asking price.

*Not Showing = (Not Good -X%) = A “Not Good” property, with a negative percentage in negotiating from the asking price. Why still show it? In case you might be interested in pursuing it because not all properties have a $200,000 renovation cost. We show up to a negative -20%.

John Doe = The name of Owner or Agent.

Century 21 Brooklyn = The name of the Agency.

(123) 456-7890 = The number listed with the property, we are not liable for the contact information given to us. If you do come across an inactive number, simple search for the address on Google and obtain the contact information.