Proving That Zestimates Are CRAP
Today I sold a home in my community of Braemar for $468,000. It was a gorgeous home that, on paper, comped out at $450-ish when I took the listing. But, when inside the home, the work the Sellers had put in was obvious and stunning.
The master bathroom was a spa-like retreat with heated floors, natural stone surfaces and ultra modern 
fixtures. The kitchen was designer all the way. Contrasting granite counters, white cabinets with under cabinet lighting, and top of the line appliances. Even the window treatments were the ultimate--plantation shutters and wood blinds.
So when pricing the the home, I took the upgrades into consideration and the Sellers and I decided to start at $475,000. Of course, we had to look on Zillow to see the Zestimate before answering the listing question as to whether they would allow an automatic evaluation of their listing. As soon as the screen resolved to show the Zestimate, back in March, it was like I punched the Sellers in the face announcing the number---$423,000.
They were the first Sellers to opt out of the automated evaluation of the listing, thereby, losing the visibility on Zillow, Trulia and RedFin. I told them if we didn't get much traffic, before we lowered the price, we should add visibility to those sites and allow the automated evaluation of the listing.
Not necessary. It went under contract in four days for $468,000. And yes, it sold today. Of course, I checked Zillow to see what it had as the current value of the home. $450,000. Close, but no cigar.
Zillow can't come into your home and see the improvements made, or account for location to include which lot you have in the neighborhood, or what school district you are in. Only a local agent can do that. And if you aren't hiring a local agent who works your marketplace full time, you could be missing big bucks in the final sales price.
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