zestimate: The Ultimate Answer to the Zillow Zestimate
- 04/04/11 04:22 PM
Perhaps no phenomenon in real estate is as much of a lightning rod for strong opinions as the Zillow Zestimate. Most agents I speak with hate it; I have had instances where looking it up has helped a deal and I have had clients walk from a deal because of it. The Zillow Zestimate has been the reason for sellers to feel under-priced or under-bid, and it has been invoked by buyers as the reason that they feel they overbid on a home. I once got so exasperated that I asked a client if a Zestimate ever drove them around Westchester (123 comments)
zestimate: Zillow Saves a Deal in Rockland County Real Estate Sale
- 06/19/09 08:07 AM
I have blogged before about the difficulties Zillow has caused. Typically, their "Zestimate" has caused people to 2nd guess the more accurate evidence on the ground and either over or undervalue a home, killing a possible transaction. The galling thing about it is that the more compelling evidence is right under their nose from the MLS, but that one number on a zillow page (which, by Zillow's own admission is typically off by 11% or more in Westchester County) has killed everything. However, this past week, Zillow zigged instead of zagged. My seller clients were agonizing over whether or not to (24 comments)
Phil Faranda is broker and owner of J. Philip Real Estate LLC in Briarcliff Manor, NY. Since founding the firm as a sole practitioner in late 2005, the team has grown to over 80 agents & closed 1000+ transactions valued at over $1 billion. He was 2014 President of the HGMLS and a 2017 Inman Influencer. This blog commentary is geared toward consumers and industry colleagues alike. You can reach him at (914) 723-8900. Warning: *Sarcasm and irony advisory at all times.*
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