zillow is no good: Not the first time I've had to explain this and it won't be the last
- 04/16/15 12:45 PM
As real estate professionals we all have our complaints about the information people receive from online sources such as Zillow. In fact, Zillow's own CEO recently admitted that the average margin of error on their "Zestimates" is somewhere around 8%. To put that into numbers for you let's take a house with a real value of $300,000. Zillow's AVERAGE margin of error will place that Zestimate somewhere between $276,000 and $324,000. Obviously this is not an insignifcant difference. On the high side an agent may have trouble convincing a seller that there house is really worth $300k because "Zillow says … (0 comments)
As real estate professionals we all have our complaints about the information people receive from online sources such as Zillow. In fact, Zillow's own CEO recently admitted that the average margin of error on their "Zestimates" is somewhere around 8%. To put that into numbers for you let's take a house with a real value of $300,000. Zillow's AVERAGE margin of error will place that Zestimate somewhere between $276,000 and $324,000. Obviously this is not an insignifcant difference. On the high side an agent may have trouble convincing a seller that there house is really worth $300k because "Zillow says … (0 comments)
;)
;)
