Reynolds Bickerstaff Why is my Zestimate lower then my asking price?
Several clients have recently asked me about their home’s Zestimate. Just yesterday I received an email, from a very excited client, who informed me his Zestimate increased a few thousand dollars. Did the Zillow Fairy stop by his home last night to update the home valuation while he was sleeping? I hope not, the Zillow Fairy sounds a little scary.
If you scroll down to the bottom of Zillow’s homepage, you’ll find the “About Zestimates” tab, which is really a well written disclaimer. I don’t have the statistics on the percentage of site visitors who read this information, but I presumed it’s a very low one.
What is a Zestimate and how does it compare to an MLS Listing?
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- As you can see the Zillow Page is missing some of the homes amenities, which can lower the value of the home.
Zillow and Yahoo recently formed a partnership, which now ranks them as #1 & #2 Real Estate Search Engines, so they do deserve REALTORS attention. Zillow pulls data from many different sources, which often creates incomplete representations of a property’s value. If you are concerned about your property’s Zestimate, then login and fill-in the gaps. The Zillow Fairy will appreciate your help!
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