Inaccurate Zillow ‘Zestimates’

zillow-logoIt’s no secret, Realtors strongly dislike Zillow and for good reason. I cannot count the amount of times that clients call me with questions about their Zillow Zestimate. and why is it different than my evaluation. Rarely on target, Zillow quotes are either so far below or above the price point where sellers should be. This creates conflict between myself and the sellers as well as potential buyers.

Zillow CEO Spencer Rascoff answered that they’re “a good starting point” but that nationwide Zestimates have a “median error rate” of about 8%. On a $500,000 house, that would be a $40,000 left on the table. I don’t know about you but, I certainly would not be happy losing 40 grand because some website quotes are off point.

Click here to read the full article.

Blessings from all of us at
Coleman Real Estate Group
Your Dream Home Could Be Just A Click Away!

This entry was posted in Real Estate News and tagged , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s