Listen to Zillow – Pay Little Attention to the Zestimate

I’ve written this for years. And Jay at Zillow has written it in a way that hopefully now consumers will lend credence to my words: (bolding mine)

But (a Zestimate is) not accurate enough to determine what price to set for a home about to go on the market, or what price to offer on a home. The Zestimate isn’t intended to be used like that.

But – they used to aspire to consumers using the zestimate to negotiate and thankfully and rightly removed that language.

One day though, Zillow might be right(er).

Zillow is awfully popular though.

Google Trends - Web Search interest_ zillow, realtor.com - Worldwide, 2004 - present.jpg

So, thanks Jay for the post. 🙂

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3 Comments

  1. Sebastien Cloutier October 2, 2013 at 19:28

    Really true! There are many things to consider when looking for the market value of a house! The evaluation is just one of them! Great post.

    Reply
  2. Simon Campbell October 3, 2013 at 11:44

    Wow, finally the site administrators are stating for the record that this is a “guestimate” of property value. So many consumers are taking that figure as gospel – right up their with a professional property appraisal. The real question is whether site visitors will listen to this “revelation of truth.”

    Reply
  3. Pingback: 2015 Assessed Values in Crozet - RealCrozetVA

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