Lots of sellers bring up Zillow. Mostly when the Zestimate is higher than what they’re hearing from actual real estate agents.
But I’ve also heard people complain because the value of their house was too low on Zillow, and they worried how that would affect buyers.
What I haven’t heard a whole lot of people say is, “Wow, my Zillow Zestimate is exactly the same as what you’re saying the value of my home is!”
Obviously, you want to get as much as you can for your home! And when you see a site as popular as Zillow, you have to figure it has some merit.
Well, that can lead people to make big mistakes when pricing their home. Which is a shame…because Zillow actually tells people that they make big mistakes!
They actually have disclaimers on their site which state they’re off on value oftentimes. They state that they’re within 5% of the value of a home only about half the time in most areas. Most of the time, they claim to be within 20% of the value! In real estate, that’s a huge discrepancy.
In their defense, their values are computer-generated. Of course they’re likely to be off. They haven’t actually seen the inside of the house…they don’t even sell houses; they just display them online.
Luckily, I pride myself on the accuracy, so whatever Zillow says about your house shouldn’t hurt you…as long as you pay more attention to my analysis than their Zestimate.
Erase note
You currently have no custom folders