A lot of our clients ask, “Can we trust Zillow to come up with an accurate value for a property?” The short answer is no. In most cases, Zillow’s Zestimates are off by 5% to 15% of the true price.
The problem is that Zillow uses similar homes in the neighborhood to come up with the value of a property. However, determining a home’s value is not that simple.
The best way to know what a home is worth is to contact a real estate agent, like me. We will pull all the comparable homes in your area and do a physical assessment of your property to determine what it is worth in the current market. Zillow has no way of knowing about any improvements you have made to the property.
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Ultimately, whether you are buying or selling a home, Zillow is a great starting point, but don’t use it to make any major decisions. The CEO of Zillow himself ignored his home's Zestimate when it because the Zestimate was 40% off! He went with an agent instead. Read all about it here.
Don’t use Zillow to make any major real estate decisions.
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If you have any questions about home values or real estate in general, please don’t hesitate to reach out to me. I would be happy to help you!
