Disclaimer: I have read through some of the many Zillow posts to make sure I wasn't writing up something too duplicate. I gave up after reading several and decided to tell my recent experience.
On a forum I'm involved with we were shown how you could put your profile on Zillow. Several of us went over there and entered our profile to see if the page (with our website links) would get indexed (so far it seems to get indexed quickly). While I was over there I figured I'd enter a listing for a Palos Heights townhouse I'm working hard trying to promote (and show the seller all that I'm doing).
Everything looked great, until I saw the zestimate. This is the lowest priced unit of its style in the subdivision. It is priced at $349,900. The least expensive unit, a less expensive style when it was built, is at $344,900 and the most expensive unit that is the same style as my listing is at $410,000. The zestimate was something like $262,733. UPDATE: The townhouse ended up selling for $330,000 - Zillow was more than $67,000 too low. That's a huge difference!
So instead of sending the listing to my client, I tried to completely delete it. I don't think that is an option! I couldn't find a delete button, just an edit button. I removed everything I had written & removed the photos. Yet if you look through the area it comes up as a skeleton of a listing with the zestimate intact.
Problem is, you won't know the zestimate until you add the listing, right? I'll never make that mistake again. If I'm missing something please help me as I don't visit Zillow that often. Was there a way to check the zestimate before I added my particular listing? Should I have just done a search first using the listing parameters? I suppose I'm answering my own question.
Hopefully, if I didn't know this I can save someone else the trouble of adding a listing only to be hit with a really lowball zestimate that hurts my reputation, the listing itself and the subdivision. I think these units were higher than $260,000's when they were built in 2001! The area and the subdivision has appreciated in value over the years.
One of the problems was that this is a somewhat unique subdivision that was built on prior golf property. It is beautiful and is nestled in a forest preserve area and has a lovely entrance with a pond. Yet Zillow pulled listings from other subdivision/complexes.
I take the blame for jumping into this late at night without doing my research first. But we all know that if I did a search anywhere on Zillow I'd have so much reading to do and who knows how long it would take to find my answer? I had to learn the hard way.
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