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How Zillow’s “Zestimates” Will Cost You

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I want to talk to you about a very popular site, Zillow. Zillow does home valuations called “Zestimates,” and many people enjoy going to Zillow and checking their home’s value.

I want you to know something about that site. If you look in the fine print, Zillow’s own site says their estimates are only accurate about 7% of the time. That means they are inaccurate about 93% of the time. If I was inaccurate in valuing homes 93% of the time, I wouldn’t have been in business for 25 years!

Accuracy is important. As the old saying goes, I’d rather hurt you with a truth than make you feel good with a lie. When it comes to selling your home, it is very important know your home’s true value. Your plans depend on what you think the equity will be when you sell your home.

When you have one of our agents walk through your home, they will give you a good idea of what your home is truly worth. They see hundreds of homes each month. They know how your home compares to the house down the street that Zillow selected as your comparable. Zillow doesn’t know about your new carpet, the granite in your kitchen, or your new patio.

Our agents compare your home to other homes on the market, and they can give you an accurate estimate about how much your home will sell for. It is a great way to make plans for the future, so we’re glad to give you your home’s market value.

If you have any questions about your home value, please click the home value link on this blog for a free, no-obligation home valuation. If you have any other questions about real estate, please give us a call or send us an email. We’d be happy to help you.

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