realestate

Unpacking School Ratings on Real Estate Websites

Home value may increase by $50,000 in top-rated MN schools, but critics question rating reliability.

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home in a highly rated Minnesota school district can fetch $50,000 more than an identical one in a lower-rated district, real estate agents say. However, some argue that external ratings shouldn't be the sole deciding factor for families choosing a school.

    Crystal and Garret Cerkvenik are moving their young family from Arizona to the Twin Cities metro area for better education opportunities. They're studying school rankings on websites like Zillow, focusing on schools with high ratings across various categories. Real estate agent Anna Garnaas-Halvorson notes that buyers often have "tunnel vision" when it comes to school districts.

    The quality of a school district is a crucial factor in determining a home's value and resale potential, according to real estate agents. National home listing sites feature ratings from 1 to 10, but the source and reliability of these ratings are unclear. School districts and real estate agents caution against relying solely on external ratings.

    GreatSchools, a national nonprofit organization, provides ratings based on test scores, college readiness, equity, and academic progress. However, some critics argue that these ratings don't account for socioeconomic factors or other important data points. The Minnesota Star Tribune reported that 35 traditional public schools, 16 charter schools, and 30 private schools have paid premium Niche accounts to enhance their profiles.

    Real estate agent Vicki Peters notes that a home in a highly rated school district can list for up to $50,000 more than an identical one in a lower-rated district. However, she advises clients not to rely solely on ratings and to consider each child's unique experience.

    School districts are also taking steps to promote themselves through word-of-mouth and presentations to real estate agents. Eden Prairie Schools' director of marketing and communications, Grace Becker, encourages families to schedule tours or attend open houses to learn about a school beyond its rating.

Real estate websites display school ratings, influencing homebuyer decisions nationwide.