Sellers, is your agent using reliable information?

By
Real Estate Broker/Owner with WHISPERING PINES REALTY 20398180

Sellers, there is a lot of information out there on home values.

Sellers, there is a lot of mis-information out there about values.

The question I want to know is why you think that non-professional sites know how much your home is worth.

 

My client to day just turned down an offer that is 5-7% over market value.  

Why?  Because zillow said it was worth 20% more than the offer we got. 

Because a non-professional site that uses outdated information and guesswork says it is worth $XXX dollars they believe them.

 

This company has not even seen your home.  How do you expect them to know how much your home or any home is worth without first looking at it.

 

Use a Real Estate agent that uses Professional sites like the Multiple Listing Service and Realtor.com.

These are the true Professional sites and have the updated information and don't use guesswork to tell you how much your home is worth.

 

Is it $250,000 or $350,000.  Only the professional knows for sure!

 

 

 

 

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Rainmaker
337,360
Maria Sapio
Berkshire Hathaway Homesale Realty - Carlisle, PA
Real Estate Agent- Carlisle, PA. Mariasapio.com

I liken those sites to going on the Internet and playing doctor to diagnosing my symptoms - the sites are a staring point but only a true professional is a necessity...!!

Dec 26, 2016 05:40 PM #1
Rainer
48,500
Lisa Hernandez
Opes Real Estate Group - Kendall, FL
Realtor serving Kendall, South Miami & Pinecrest

Great points... 

Dec 26, 2016 05:56 PM #2
Ambassador
3,450,119
Jeff Dowler
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude - Carlsbad

Hi William

This certinaly raises a serious question about how important buyers, and sellers, feel these automated evaluations are (let's use Zillow as one example). It's scary that they would rely on information that we know is wrong most of the time! No buyer or seller should make any buying or selling decision based on something the computer is telling them.

Jeff

Dec 26, 2016 08:06 PM #3
Rainmaker
2,319,128
James Dray
Fathom Realty AR LLC - Bentonville, AR
Exceptional Agents, Outstanding Results

Good morning William. We still run into that from time to time around here.  Sigh

Dec 27, 2016 03:49 AM #4
Rainmaker
2,218,541
Nina Hollander
RE/MAX Executive | Charlotte, NC - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

Oh yes, the Zillow brain! I went through this with a client a couple of years ago. Had a home that Z said was worth $5K more than virtually new comps from sales of the exact same homes. Even with feedback from showing agents to lower the price by $5K, my seller wouldn't listen. Finally, sold the home after six months at exactly what I had originally told him he would get... but meantime he had six months of carrying costs since the house was vacant.

Dec 27, 2016 04:49 AM #5
Rainmaker
60,931
Amy Kramer
Reilly Realtors - Austin, TX
Realtor serving Austin and surrounding communities

William Feela, Zillow can't live with it, can't live without it.  I appreiate your post very much and will use your salient points with the many buyers and sellers who bring up zestimates!

Dec 27, 2016 06:03 AM #6
Rainmaker
2,848,722
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning again William. What fools. People are pretty stupid when they get greedy.

Dec 27, 2016 06:08 AM #7
Rainmaker
547,393
Vern Eaton
Askov, MN
Realtor 651-674-7449

Because it is on the internet it is true.  Just like your neighbor and your uncle

Dec 27, 2016 12:22 PM #8
Rainmaker
2,536,359
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of Manchester NH's Leading Agents

I like to have the Z and T talk right up front with my seller and give them the real info and trends so this does not happen. Even though i have the talk, some still balk when Z says they are 20% higher. This doesnt make it easier for sure William Feela 

Dec 29, 2016 12:56 PM #9
Ambassador
3,490,383
Debbie Reynolds
Platinum Properties - Clarksville, TN
Your Dedicated Clarksville TN Real Estate Agent

The local agent is the expert in the market and when you have the discussion with the seller, most understand that.

Dec 29, 2016 03:47 PM #10
Rainmaker
4,052,638
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

Well, they can wait until the market improves enough that they will get this value and enjoy all that time in a home they no longer want to live in and postpone the rest of their lives indefinitely.

Dec 29, 2016 04:34 PM #11
Rainmaker
547,393
Vern Eaton
Askov, MN
Realtor 651-674-7449

Trusting what the internet has to say is like playing russian roulette with a fully loaded gun!

Dec 30, 2016 06:37 AM #12
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Rainmaker
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William Feela

Realtor, Whispering Pines Realty 651-674-5999 No.
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