Can you find out what your home is actually worth on Zillow? Yes and no. Here’s what we mean.
I get asked all the time by buyers and sellers alike whether they should trust Zillow and their Zestimates. The answer is maybe. Here’s what I mean.
The Zestimate is a purely data-driven number. Oftentimes, the data is inaccurate anyway. From what I can tell, it’s based off sale prices, sales data, and tax assessor information. However, updates to the home and other special selling features of the home often get overlooked in the process. That doesn’t help anyone.
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Any real estate market is based on supply and demand. Having boots-on-the-ground knowledge of the ever-changing dynamics at play in a market is the best way to learn your home’s actual worth. This kind of work can only be done by a knowledgeable and experienced real estate professional.
Zestimates are purely driven by data.
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As far as the accuracy of Zestimates, they often leave much to be desired. The Zestimate on my home was off by over 10%. The Zestimate for the CEO of Zillow’s Seattle home was off by 42%. Yikes!
I’m not saying that online real estate information isn’t addictive. I check it out myself, but that’s not the issue. Never make the decisions to sell your home based on a Zestimate. Reach out to a professional like myself first.
If you have any questions for us, don’t hesitate to give us a call or send us an email. We look forward to hearing from you soon.
