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I Am A Local Real Estate Expert - Zillow Is Not

By
Real Estate Broker/Owner with RED Properties NC #129285

I Am A Local Real Estate Expert - Zillow is Not

Wake Forest NC Real Estate AgentWhether you are thinking of buying a home or possibly selling your home you more than likely have stumbled upon Zillow and thought you hit the mother-load of real estate information!  It's a fancy site with Zestimates, has homes marked on a map that are either currently listed or have recently sold, and you can spy on your best friends home on the other side of town to see what it's worth and that's cool, right?  Wrong!  Well, if spying on your neighbor is cool to you then that's your business BUT if you are thinking of buying or selling a home then you want to steer clear of Zillow.

You see, I cringe when I speak with a buyer or seller and they come at me with all their research from Zillow.  They already have a predetermined listprice based on what they learned from Zillow or they think they already know if a home is over or under priced with information they received from Zillow.  Well, let me set the record straight - more often then not, Zillow is inaccurate.

Zillow is a computer generated program that acquires information from various sources and then runs it through a program to give you information based on a mathematical equation.  Trust me, there is no human sitting at a desk inputting data about all of the homes throughout the country.  What Zillow can not replicate and therefore will never be able to accurately price real estate is the human touch and the ability to physically see into other properties.

Zillow does not take into account upgrades and/or updates to a home or lack thereof.  It doesn't know:

  • While your home may have Formica countertops your neighbors have all upgraded to solid surface counter tops.
  • You have replaced your carpet, vinyl in the kitchen and bathrooms and updated the appliances while your neighbors have carpets that are worn thin, 15 year old outdated vinyl and brass fixtures from the 80s
  • ZILLOW DOES NOT KNOW THAT THE HOME NEXT TO YOURS WAS A FORECLOSURE ANDWake Forest NC Real Estate Agent THE PREVIOUS OWNER RIPPED OUT ALL THE CABINETS, TOILETS AND MADE OFF WITH THE COMPRESSOR UNIT TO THE HVAC.

All Zillow knows is what is found on other public sites - statistics.  There is no room for the human touch.

So, please, if you are thinking of buying or selling a home don't consider Zillow as your source for pricing.  It's a fun site - lot's of bells and whistles - cool tools and great graphics but that's about it.  If you are serious about buying or selling real estate then you want to rely on a real estate professional that can add the human element and knows your neighborhood and the local real estate market. 

Posted by
 RED Properties RaleighRed
RED Properties RaleighRed

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Comments (215)

Leesa Finley
RED Properties - Wake Forest, NC
RED Properties - Raleigh NC Real Estate

Thanks again, everyone, for your continued comments - they are greatly appreciated!  There have been quite a few different view points on this post and that is EXACTLY what Active Rain is all about!  Great to see the interaction.

Aug 08, 2010 02:04 AM
Barrie Clulow
My Time Is My Own - Uxbridge, ON

Leesa - oh how true yet today we find realestate salespeople using the statistically contrived assessment values to argue in favour of their offer or listing price. 

LOL actually it's not very funny at all, it's is sad that they use information without understanding how it is actually calculated or realizing the potential for errors in the end results

Aug 09, 2010 01:38 AM
Home Loan Search.Online
Home Loan Search Online - Newnan, GA

It takes a local real estate expert to know, understand, and communicate the nuances of the local real estate market. Statistics can have an impact but they are only part of the equation.

Darrell Walters, Newnan Mortgage

Aug 09, 2010 02:12 AM
Leesa Finley
RED Properties - Wake Forest, NC
RED Properties - Raleigh NC Real Estate

Interesting, Barrie and I never thought of that but you are RIGHT!  There are agents that use it to bolster their offers - ggrrr!

Aug 09, 2010 03:37 AM
Barrie Clulow
My Time Is My Own - Uxbridge, ON

Lessa - I reblogged your post as it ties in with a series I have on assessment

Aug 09, 2010 04:18 AM
Leesa Finley
RED Properties - Wake Forest, NC
RED Properties - Raleigh NC Real Estate

Totally agree, Darrell!  There is way more to it than numbers from a computer program.

Aug 09, 2010 07:41 AM
Leesa Finley
RED Properties - Wake Forest, NC
RED Properties - Raleigh NC Real Estate

Thanks so much, Barrie - I'll have to check out the series!

Aug 10, 2010 02:48 AM
Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 714-319-9751 DRE01267479 - Costa M

Zillow has information on their site on just how inaccurate their information may be.  I believe in our area it's a bit over 10% + or -.  Basically that's over 20% discrepancy.  Definitely not the best information available.

Aug 11, 2010 05:37 PM
Leesa Finley
RED Properties - Wake Forest, NC
RED Properties - Raleigh NC Real Estate

Yes, Christine - they do have disclaimers but how many times do people read the fine print - we all know they should.....but....

Aug 13, 2010 10:52 AM
Todd & Devona Garrigus
Garrigus Real Estate - Beaumont, CA
Broker / REALTORS®

Excellent post. I understand the attraction to Zillow. I also understand people will trust a compute program more than a salesman, but the info is mostly inaccurate.

Aug 13, 2010 02:51 PM
Leesa Finley
RED Properties - Wake Forest, NC
RED Properties - Raleigh NC Real Estate

Garrigus Real Estate - even consumers that understand we are professionals in the Real Estate field look to these 3rd party sites first.

Aug 14, 2010 01:54 AM
Wayne B. Pruner
Oregon First - Tigard, OR
Tigard Oregon Homes for Sale, Realtor, GRI

Thanks for the post and the great comments. This is good stuff and exactley why I dislike Zillow.

Sep 21, 2010 05:23 PM
Leesa Finley
RED Properties - Wake Forest, NC
RED Properties - Raleigh NC Real Estate

It is frustrating, Wayne, that's for sure!

Sep 22, 2010 06:20 AM
Suzanne McLaughlin
Sabinske & Associates, Inc. (Albertville, St. Michael) - Saint Michael, MN
Sabinske & Associates, Realtor

Here is what I know.....

I attended for about ten minutes the first Zillow University class.  And, I am still of the opinion, that although I like Brad, they are still a bunch of fools not getting it. 

If you want people to attend and come back, rehearse, rehearse, and rehearse until you get it right.  Don't waste our time. 

I was looking for some good information, and those Zestimates are zero, as many people have attested to. 

Thanks, Leesa, for giving me an opportunity to vent.  Active Rain doesn't like it when we dis Zillow because they are a sponsor. 

Oct 25, 2010 02:16 PM
Leesa Finley
RED Properties - Wake Forest, NC
RED Properties - Raleigh NC Real Estate

HAHAHA!  You are more than welcome, Suzanne.  Try as I might I just can not bring myself to understand the Zillow draw.

Oct 27, 2010 08:24 AM
Leesa Finley
RED Properties - Wake Forest, NC
RED Properties - Raleigh NC Real Estate

I have no idea what any of the above (Comments 216-219) are about.  I don't delete comments though - should these be deleted?

Mar 08, 2011 07:34 AM
Anonymous
Bob

Perhaps you may wish to congradulate Jon on HIS finee Blog which is word for word exactly like yours..

http://dabd38a.activerain.com/post/2222717/what-you-should-know-about-zillow

Is this one of those Great minds think alike or Plagerism?

 

Apr 04, 2011 03:26 AM
#214
Anonymous
Bob

You're welcome

 

 

Apr 04, 2011 05:20 AM
#215
Anonymous
Bob

Maybe Pretty Please will work,,,,another place Jon posted your Blog

http://4realestate2.blogspot.com/

Agents seem to be pretty lackadaisical about Stealing Content...

Apr 04, 2011 07:27 AM
#216
Leesa Finley
RED Properties - Wake Forest, NC
RED Properties - Raleigh NC Real Estate

I am closing this post from further comments.  Jon - I am asking nicely that you remove MY post from all of the sites that you have subsequently posted it.  Not once have you made any reference to who the original article was written by, you didn't ask my permission and the only change I saw on the AR post was the ommission of one sentence.  Sorry - that does NOT then constitute an ORIGINAL post.  I will be visiting all of the sites one by one where I have found my post and soliciting help from site owners to have these posts removed. 

Apr 06, 2011 08:31 AM