Rent vs Buy in Boston>Question Details

Boston Luxury…, Real Estate Pro in Boston, MA

Zillow.com adds "Rent Zestimates". Will it be another nightmare to brokers as Sales Zestimates was??

Asked by Boston Luxury Residential LLC, Boston, MA Thu Mar 10, 2011

Please read my blog for a more detailed discussion:
http://blrboston.com/blog/zillow-adds-rent-zestimates
and tell me what you think???

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Answers

12
I'm with Christine - it's great - anything that gets our clients asking us questions and realizing that Zillow is as accurate as they might like helps us all - clients included. I use Zillow a lot, but not for sale or rent values.

Tom
1 vote Thank Flag Link Thu Mar 17, 2011
Astrology for real estate consumers, and I don't mean to denigrate astrology.
1 vote Thank Flag Link Tue Mar 15, 2011
I think it is great. Zillow is way off anyway.
1 vote Thank Flag Link Sat Mar 12, 2011
No. It won't! It is actually will be good for everyone after all. The renters who care so much about rentimate, will never get a place to live, they don't have luxury of time. Then it will be an eyes opener for many of them that what so every Zillow is presenting is not legit!
1 vote Thank Flag Link Thu Mar 10, 2011
I never found the sales Zestimates to be much of an issue, sure they might be a decent yard stick but there's alot more to pricing a property than just the mathematical formula that the Zestimates use. It's like saying the right ball park & section but you still don't know the row or seat #.

Makes for some interesting conversations though & great way to start & engage customers/clients/friends in a non threatening way,

Hope all is well :) here's to a great spring
Web Reference: http://www.MedfordHouse.com
1 vote Thank Flag Link Thu Mar 10, 2011
Blech. It already is. Indexing for SEO purposes on the large websites is horrible. It means more leads and lower quality.
0 votes Thank Flag Link Fri Jun 29, 2012
Good grief, let's hope not....I hadn't noticed this and need to check it out.
0 votes Thank Flag Link Thu Mar 17, 2011
I don't think so. A knowledgeable and seasoned real estate professional should be able to provide a clear, honest and realistic understanding to their client of what the pricing looks like in the area in question. Certainly there will be people who will come home from a showing and look up the zillow estimation of the rental units they liked, but at the end of the day the hardest hurdle for a Boston rental agent is the multitude of false listings that flood Craigslist.
0 votes Thank Flag Link Tue Mar 15, 2011
Interesting question. As a landlord myself, I'll be curious to see what they feel is appropriate for my places...
0 votes Thank Flag Link Sat Mar 12, 2011
Zowie!!!

I noticed this Zillow feature today and was shocked when I noticed their "rent zestimates" because they didn't seem to be an accurate reflection of the area annual rental rates at all.

The good part is that the information I saw will likely drive potential renters into the buyer's market.....

Time will tell but this looks like a "shakey" start.
0 votes Thank Flag Link Thu Mar 10, 2011
Anybody using this Website as a real pricing point needs their heads examined!! - Generally speaking the pricing is WAY off!!
0 votes Thank Flag Link Thu Mar 10, 2011
OH YES!!!! I have no doubt!
0 votes Thank Flag Link Thu Mar 10, 2011
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