As instant vauation data is automatically calculated and an average, minimum and maximum figure is presented to the potential client, you may sometimes find that your valuation tool generates a larger than preferred variance between the minimum and maximum figures.
This can happen if limited historical sales data exists for the property type (such as 1 bed rural cottages) or if geographically there is limited available sales data available to base a more concise valuation on.
Rightval is the only tool to allow you to cap the variance between the minimum and maximum figures displayed to vendors to a fixed percentage of the “average” value.
By default, your valuation tool will be configured to operate at caps of +/- 10% of the average value. This means that if the property is valued at £100,000, the lowest minimum figure we’ll show is £90,000, and the highest maximum figure we’ll show is £110,000.
If you’d like to change the valuation caps to either provide a broader or narrower variance around the average price, here’s how to do it:
- Sign in to your agent account
- Click “Settings” from the top navigation (requires administrator access)
- Locate the “Caps and mulitipliers” advanced option
- Click “Manage“
From here you can update either the minimum cap or the maximum cap to your preferred percentage.
Don’t forget to click “Save changes” once you’re done, your new caps will come into immediate effect on your valuation tool
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