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Why You Shouldn’t Trust Zillow’s Home Values
Manage episode 162543873 series 1069374
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Are Zestimates accurate? Sellers like to think that they should price their homes according to this number, but these valuations are usually not exact.
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Sellers love to share their homes' Zestimates with us before we come out for an appointment and look at their home. Though the number that Zillow gives them may shape the price they’re hoping to get on their house, the question is, how accurate are Zestimates?
In our experience, Zillow estimates are often at least 5% to 15% off from the home’s real appraised value. Zillow uses a basic algorithm that is supposed to use comparable property sales in your neighborhood to come up with a value; however, finding the true value of a property isn’t that simple.
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Zestimates tend to be 5% to 15% off.
”The best way to determine your home’s value is to talk to an experienced professional agent who will do the research, find comparable sales, physically assess the property, and then analyze the data. There is no way for Zillow to account for all of the factors that give a property its value.
As listing agents, we do this every day free of charge! So if you’re interested in learning your home’s value or have any other real estate-related questions, don’t hesitate to give us a call or send us an email. We’d be happy to help you!
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