The Truth About Zillow’s Zestimate
June 6, 2019
A Zestimate can be a good starting point when determining your home’s value, but it shouldn’t be the final say. Here’s why.
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Should you trust your Zillow Zestimate? How accurate is it? Not as accurate as you need, suggests Zillow themselves. They say to use your Zestimate as a starting point.
It’s not an appraisal. It’s based on public and user-entered data, and that specific data can often be incorrect. Square footage, bedrooms, and bathrooms can all be inaccurate in the public data that Zillow uses. Additionally, any user can enter any information about their home, which affects their Zestimate, as well as others.
The algorithm compares homes in similar locations and neighborhoods, but they may be in different school systems. The school system you’re in can drastically affect a home’s value in our area.
"A Zestimate doesn’t view your home like a professional Realtor does."
Zillow states that a home’s final sale price is often between 20% and 89% of the Zestimate. That can mean a difference of tens to hundreds of thousands of dollars from the Zestimate to the sale price.
Finally, and most importantly, a Zestimate can’t view your home like a Realtor can. It won’t be able to tell if the home is upgraded, staged, or even clean. It doesn’t know anything about your curb appeal either.
Buying a home is an emotional process that simply can’t be captured by an algorithm. If you’re thinking about selling one of your most important assets, it’s important to speak with a professional expert who knows how your home fits into the current market.
If you have any questions for me or would like to have a confidential conversation about your personal situation, don’t hesitate to give me a call or send me an email. I look forward to hearing from you soon.