As reported by Inman, a recent study commissioned by Redfin has found that listing sites such as Zillow and Trulia have shown to be much less accurate in providing listing information than dedicated realtor sites.
Consulting firm WAV Group, who conducted the study, found that, in 11 major markets, listings were less timely, informative, and accurate than their respective counterparts on three broker-operated sites. The reason for this is because most broker-operated sites feature direct information pulled from MLS sites. Trulia and Zillow rely only partly on MLS sites, also receiving information from syndication and direct input from realtors. As a result, old listings and only partial information will sometimes be displayed.
In the parameters of the study, which featured randomly selected zip codes, it was found that 36% of the listings on Zillow and Trulia were actually no longer for sale, as compared to a less than two percent finding on broker sites. In addition, while 100% of the MLS listings were present on broker sites, only about 80% of MLS listings could be found on Zillow and Trulia.
While sites such as Trulia and Zillow are great for quick looks and basic statistics about communities and neighborhoods, when providing more in-depth analysis and accurate listings, they can be found lacking. This is part of the reason why we put so much time into creating our brand new site, ExclusiveCollection.com.
We provide in-depth articles about all the communities in the Central Florida area that go beyond what you’d find elsewhere. In addition, our neighborhood search offers accurate and up-to-date MLS listing and map data that make finding the perfect home an easy task. So give it a look, and tell us what you think!
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Broadpoint Properties - Escondido, CA
Broker, Escondido Real Estate, San Diego County
I saw the CEOs of these big firms speak on issues of syndication at Inman in August. It was intriguing.
Oct 09, 2012 09:20 AM
Ventura, CA
RETIRED
Can't tell you how many discussions I have had about the accuracy of Zillow with clients. Because it is there, they do look, then they have to learn the real numbers.
Oct 09, 2012 09:30 AM
Monument Sotheby's International Realty - Solomons, MD
Southern MD Real Estate-Solomons Specialist
Zillow and Trulia can be very frustrating for Realtors when consumers solely rely on their information and are reluctant to accept more accurate and up to date info - particularly when they find their dream house that has already sold or Zestimates that aren't even close.
Oct 09, 2012 11:43 AM
RETIRED / State License is Inactive - Portland, OR
Hey, if it's on the Internet it must be true and accurate, no?!? If consumers want accuracy, they should contact a local agent who has MLS access.
Oct 09, 2012 12:13 PM
Big Dog Press, LLC - Winder, GA
Going where no man has gone before - wouldn't you?
As a former Calif. real estate appraiser I can attest to having found both services to be of no use for valuations in my experience. They routinely ran way off from the appraised value, often by 20%-30%, and usually on the high side.
Oct 09, 2012 12:51 PM
Sacramento, CA
Greater Sacramento Realtor - Retired
I think the accuracy of Zillow and Trulia has been an ongoing issue for some time. I recall a particular case, where a mobile home in a trailer park was given similar valuation to custom homes on the opposite side of a creek.
Oct 09, 2012 12:56 PM
LAER Realty Partners - Burlington, MA
Metro Boston Homes For Sale
Michael, it is good to let people know how accurate(?) Zillow and Trulia are! (And they don't claim to be accurate either!) And yes, that's the main reason they should work with professionals.
Oct 09, 2012 03:36 PM
Get Results Team...Just Call (408) 252-8900! . DRE #00901962 . Licensed to Sell since 1985 . Altas Realty - San Jose, CA
Family Helping Families Buy & Sell Homes 40+ Years
Sites like Zillow are fun but it's rather like listening to gossip-only a percentage of the info may be correct.
Oct 09, 2012 04:34 PM
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 714-319-9751 DRE01267479 - Costa M
Michael - I get calls from client all the time wanting to see homes that are no longer available except online.
Oct 09, 2012 04:50 PM
Gibson Management Group, Ltd. - Charlottesville, VA
LandlordWhisperer
I'll check for a rental ZESTIMATE for a property presentation; however, I don't post directly to these sites because it is a waste of time and energy
Oct 09, 2012 08:30 PM
Integrity Real Estate Services - Idabel, OK
It's always an interesting conversation about large real estate sites online... and yet they garner a large portion of viewers. Learning to use those sites can be very beneficial.
Oct 09, 2012 09:05 PM
Christiansen Group Realty (260)704-0843 - Fort Wayne, IN
Christiansen Group Realty
I love Rich's comment (#7). I think that's the best way to look at it. Zillow is frustrating sometimes, but it does make us look good.
Oct 09, 2012 10:29 PM
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents
The problem is when people look to Trulia or Zillow as an equal to or replacement for the MLS. They are simply advertising sites such as a local newspapers. The problem starts with the automatic feeds they use to input listings. The problems get worse when listing agents do not check or edit their listings properly.
Oct 09, 2012 10:29 PM
Keller Williams Miami Beach - Miami Beach, FL
MOVE UP in Google Search Learn How Here - Brea, CA
Chief Search Strategist Real Estate SEO Expert
Oh, they're accurate alright. Just as accurate as last month's newspaper classifieds!
Oct 10, 2012 01:29 AM
Amerifirst Financial, INC. - Salt Lake City, UT
I've wondered about these same things many, many times. Thanks for clearing things up and providing this info.
Oct 10, 2012 04:01 AM
Tutas Towne Realty, Inc. - Davenport, FL
Your Central Florida Real Estate Expert
I wish I could create a company that does absolutely nothing productive for consumers and dishes out old and obsolete information but yet still makes millions. Yeah...I think that's probably the way to go. What's that you say? Zillow and Trulia already cornered the market on that? Damn it! LOL Good post!
Oct 10, 2012 04:33 AM
Berkshire Hathaway Home Services Fox & Roach, REALTORS - Exton - PA License #RS-225179-L / Delaware License #RS-0025038 - Downingtown, PA
SRES, e-PRO,ABR,GREEN,CSP
Hi Michael,
I hear so much crazy information from Clients that drives me crazy.....just use what I supply from the MLS PLEASE
Oct 10, 2012 10:29 AM
Homes for Sale in Naples, Bonita Springs and Estero, Florida - Naples, FL
Broker/Associate at Premiere Plus Realty
Good Morning. I have found that the estimate of a propertys worth on Zillow is pure garbage both under estimated and way too much. Really don't understand how they can box all markets into their one program.
Oct 10, 2012 10:25 PM
Jon Gosche Real Estate, LLC - BoiseMeridianRealEstate.com - Boise, ID
Boise & Meridian, ID Ada/Canyon/Gem/Boise Counties
Yep! I came here from Praful's reblog and this is absolutely right. Idaho is also a non-disclosure state and it's a difficult and frustrating conversation to continue to have with people when they are trusting that site for accurate information. Zillow is much more common than Trulia. - Kasey
Oct 11, 2012 02:07 PM
Rainer
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Michael Kara
Central Florida Short Sale Expert
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RE/MAX Exclusive Collection is a boutique real estate office located in College Park in Orlando Florida. Michael Kara, broker, has over 15 years of experience and closes more pro-consumer short sales than any other Realtor in Orlando.
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