The Fallacy of Zillow & the Sedona Real Estate Market

By
Real Estate Agent with Realty Executives Northern Arizona

Is Zillow the Best Choice for the Consumer?

From conversations with our real estate clients (Sedona, AZ) in the last few years it's become clear that many people don't really understand what Zillow is and what it does in the real estate market. 

Realtors will input their homes for sale into the private Multiple Listing Service (MLS).  The MLS, for whatever self destructive reason, allows Zillow to take the listing information in the local MLS and repurpose it to their website.  An MLS is a community of Realtor members that share their listings with the hopes of having other members cooperate in the sale of a property.  Now days, the cooperating agent will likely be a buyers agent.

Zillow Sells Your Information to Real Estate Agents

Thats how Zillow makes most of their money. 

So, you're looking at a listing on Zillow, did you notice the box on the right that has 3-5 agents that you can choose to get information from on the listing?  One may be the listing agent.  The others are paying for placement in that box.  It's expensive to get into that box.

Zillow is Not the Multiple Listing Service

"but Zillow says it's still available".  We get this one all the time.  Despite the appearance, Zillow is not the MLS. It updates listings on it's own schedule and it makes mistakes.

I looked on Zillow and the Zestimate is....

A Zestimate is as accurate as it sounds.  A quick Google search of "Zestimate accuracy" will yield troves of articles and information on how wildly inaccurate Zillow can be.  Does this matter?  It does if the consumer believes this data is accurate.  Mr. & Mrs. Wilson want to put an offer on a Sedona home.  It's listed at 385K.  The Zestimate is 341K.  Who's right?

In a real estate market like Sedona, you may have a home with incredible red rock views and across the street, they have no views. It's difficult for a computer to analyze the difference.  Only a human can look at it and instantly realize the difference.

Human nature being what it is, we never have buyers tell us the Zestimate is higher than the list price or the sellers tell us it's lower. 

What Did Zillow Get Right?

 They came up with a website that is consumer friendly with easy navigation.  Accurate? 

Agent Reviews - Great section for the consumer to let others know about their experience.


Where Should You Search For a Home - Buy Local

Go stratight to the source.  A local Realtor.  Most Realtors have a MLS search on their website(s).  Our website search for Sedona real estate is updated every 5 minutes and dead accurate.  You won't be able to search for a home in outside our local area, but why would you?  If you use any of the national real estate syndicates, you don't know what real estate agent you will be sent too.  Better to spend a few more minutes and check out the agent.  Read reviews, blogs and ask questions.

 

#zillow #sedonarealestate #sedonahomes #deierlingteam

 

 

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Troy & Susan Deierling

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