Zillow's 'Zestimates' Are NOT Accurate

AlfonsGomezBroker.com - The #1 comment I get when I meet with potential home sellers is, "well Zillow saids my home is worth...". Zillow is a good start but they have admitted numerous times that their 'Zestimates' are not accurate. They boast that they are only 8% to 10% off on prices nationwide but they forget to mention that they are up to 20% to 30% inaccurate in many local markets.

As a real estate professional, I will get either, "well that's the price Zillow saids it worth and that's the price I want" or "why are your numbers different than Zillow?"... Here's my response, "Zillow is a good start but they do not have the most updated information. A lot of time their listings are old or not updated." Most people will understand after I show them the actual data. Zillow is a great marketing company that receives fees from real estate professionals wanting to receive sellers and buyers leads from them. Their #1 goal is to get clicks and visitors to their site, and they do a good job at it.

Zillow is here to stay so it's important to know their purpose and value. Again, for home buyers and sellers, Zillow is a good start but always know that their information is not accurate...

Read an LA Times article about this topic, click HERE