The Zestimate on Zillow is one of the most brilliant marketing tools I have ever come across in real estate. It is casually referred to by everyone, whether they’re a homeowner or a buyer, as if it’s a truly educated opinion of value from a top agent or a licensed appraiser, rather than what it is: an algorithm.
Zillow’s popularity in general is all driven by marketing. Any real estate agent will tell you, Zillow was one of the most archaic resources from a technology perspective. It can be wildly inaccurate and unresponsive to make corrective changes, which can be truly unfair to sellers. Nothing is truly gospel on Zillow, but their marketing makes us believe otherwise.
Tune in this week for a better perspective on the amount of credibility Zillow’s Zestimate actually has when it comes to pricing a home. I’m sharing why the Zestimate can be wildly inaccurate, and why it’s no replacement for an experienced human who understands the nuances behind property values. I’m also sharing how you can use the Zestimate as the amazing marketing tool it has the potential to be.
If you enjoyed today’s show, I would really appreciate it if you would leave a rating and review to let me know and help others find Your Real Estate Connection in Westchester. Click here for step-by-step instructions on how to subscribe, rate, and review!
What You’ll Learn from this Episode:
- How Zillow’s Zestimate became such a popular valuation model.
- Why the Zestimate isn’t as reliable or accurate as we wish it was, and how much it could end up costing a seller.
- How Zillow comes up with their Zestimate for a particular property.
- All of the information that Zillow doesn’t have access to that would impact the actual estimate versus the Zestimate.
- How to claim your home on online real estate marketplaces and update your property’s information if you’re worried that the value of your home is being underestimated.
Listen to the Full Episode:
Featured on the Show:
- If you enjoyed today’s show, I would really appreciate it if you would leave a rating and review to let me know and help others find Your Real Estate Connection in Westchester. Click here for step-by-step instructions on how to subscribe, rate, and review!