Zillow Estimates Are They Accurate? Or Wrong?

Zillow estimates or "Zestimates" being wrong!
Video Transcription

Glen Williams: Hey, everyone, Glen Williams here with Homes By Glen. Today, I wanted to talk to you about Zillow and the Zillow estimates. The question that I get a lot of times from my sellers is, “Can we use the Zillow estimates to determine a good price point to sell their home?” The answer is no and let me explain why. Zillow can be very inaccurate because it’s based on public data and it’s never been inside your house to account for any features or upgrades that you’ve made. For example, say you and your neighbor’s homes are comparable in square footage and age, but you just recently upgraded your kitchen, your bathrooms, and you had your yard re-landscaped, but your neighbor has done nothing. Well, Zillow’s estimates for both your homes will likely be similar because they don’t have this knowledge or information. Zillow has even acknowledged its lack of price accuracy in their estimates and they say that it’s normally wrong 50% of the time.

That’s why it’s important if you’re wondering what your home is worth, it’s important to get a CMA or comparative market analysis on your home to determine the best price-point to sell it for, and that’s where I come in. If you’re thinking of selling your home here in Gainesville or the surrounding areas in the near future, I’d be more than happy to come out and give you a free CMA on your home. You can call me or text me. Again, everyone, this is Glen Williams with Coldwell Banker M.M. Parrish Realtors. I hope you have a great day.

Connect With Us!

If you're looking to buy or sell a property connect with us today!

How Can We Help You?

We would love to hear from you! Please fill out this form and we will get in touch with you shortly.
    (check all that apply)
  • This field is for validation purposes and should be left unchanged.

Leave a Reply

Your email address will not be published. Required fields are marked *