Drew from Zillow here. Make Me Move was created to be part fun, part serious. Itâ€™s based on the idea that everyone has their price. For some people, their home is about more than just a place to live -- itâ€™s where their children took their first steps, or where generations have gathered year-after-year for Thanksgiving. As a result, their Make Me Move price is going to be nowhere near realistic. But for some people, the idea of selling might be more enticing. Weâ€™ve found that the median MMM price is about 17% higher than the Zestimate, letting us know more people are leaning toward the realistic end of the spectrum. And in surveys, weâ€™ve found that about 1 in 10 people have been contacted about their home. Since Zillow only facilitates the conversation, but doesnâ€™t have a part in the actual transaction, weâ€™re unsure of just how many have resulted in actual sales. I can say the success stories we have heard have been pretty fascinating -- I've linked to an article the Wall Street Journal wrote about MMM with the reference link below.
Of course, if you really want or need to sell your home NOW, Make Me Move probably is not the right avenue. But if youâ€™re like most people and would move for the right price, it canâ€™t hurt to post a MMM price on your home. The creation of Make Me Move brought to light the fact that sometimes thereâ€™s a lot more grey area between selling and not selling than youâ€™d think.
And unfortunately THEY are the perfect buyer for their own house. Sellers who can't step outside of the emotional feelings they have for their house don't price correctly and don't sell.
I'm not sure if Zillow has published any stats about their Make Me Move program but I'd sure love to see the results thus far. Maybe David G. or Drew from Zillow can swing by and fill us in on the details.
Social Media Guru at Trulia
In today's world of Internet information and tight credit, it's not going to happen. Look at your MLS and see what clears and what doesn't -- buyers are still buying, but they're only going for reasonably homes.
author, "Diary of a Real Estate Rookie"
Insider Real Estate Tips with a Twist of Humor: http://tinyurl.com/2ag28z
As for the buyer....well, that's what appraisal contingencies are for and an appraiser will at least use a comparative analysis and put more weight on it than a MRA, if he/she uses the latter at all (most appraisers on residential do not to my knowledge use MRA much). So the buyer is not at risk...WE ARE lol if zillow does give them the wrong idea, it's simply a new hurtle we must overcome when discussing that market with a buyer.
Broker, CRS, GRI, ePro
Raving Real Estate
Laramie, WY 82070