We’ve been getting the question “Is Zillow an accurate place to find my home’s value?” a lot, and today we are going to explain how it works and what it is useful for.
Here’s what Zillow is good for. Number one, it’s probably the most widely-used commercially marketed real estate search engine. Studies have shown that 70-75% of buyers visit the site. Zillow also offers an automated home value feature that they call a Zestimate. Zestimates are good jumping off points, but they’re just estimates.
Zestimates do not take into account your property’s condition, or all the recent sales in your area. The algorithm can’t determine any updates or renovations you have done, and oftentimes it uses sold data that’s over a year old.
When a professional agent like one of us comes to your home, we are going to take notice of every detail, and assess your home on the current market using the latest sold data and up-to-date information. This will give us the best indication of where to price your home to sell for top dollar. “Only a professional can give you an accurate valuation.” These are all things that should be taken into account when trying to pinpoint your value. Zillow is a great starting point, but if you’re looking to make a certain amount of money on your sale, you definitely want to contact a professional. If you have any questions at all, feel free to reach out to us via phone or email. We are always here to help.