Zillow’s Zestimates have been all the rage since they were released a few years ago….and we’re not surprised! After all, where else can you snoop on the price of your new neighbor’s home? (It’s okay, we’ve all been there.) While Zestimates can be really fun, it’s important to recognize their limitations.
The algorithm used to calculate each Zestimate is pretty sophisticated, but it’s not intended to replace an appraisal or real estate professional. Zestimates take into account the location and aspects of a home on public record (acreage, # of bedrooms/bathrooms, etc), but they are generally unable to consider other things that really matter, such as the condition of a home. Additionally, Zillow has more information about some neighborhoods and cities than it does about others, and this can greatly affect the accuracy.
Zillow discloses all of this information on their FAQ page, and it’s true that sometimes their Zestimates can be spot on. But generally speaking, it’s a good idea to think of it as just a fun tool or a starting point.
If you’re thinking about selling your home and you’d like us to provide with you with a complimentary Comparative Market Analysis (CMA), we’d love to help out. We won’t ask you to sign a single thing and all we ask is you provide us with your address, via email at firstname.lastname@example.org