Are Zestimates on Zillow typically very accurate?

Asked by braz5152, McKinney, TX Fri Apr 25, 2014

We are getting our house ready to list and I looked it up on Zillow and the Zestimate seems to be a bit lower than what I would have expected.

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10
Shelly Messer, Agent, McKinney, TX
Fri Jan 9, 2015
I have found that online companies are not always very accurate - however there are times when they are. Just keep in mind that there is nothing better than getting a Market Analysis from a professional Real Estate agent (such as myself), who will come to your house and discuss how the market is in YOUR neighborhood. Talking Real Estate is always a good thing, I am a Seller Representative Specialist and proud of my success in meeting the needs of my clients.

Shelly The Realtor
Shelly Messer
smesser@sbcglobal.net
214-562-8445
0 votes
Shelly, we're wanting to find out what our home is worth to see if we can sell this year. Do agents usually charge to come to your home and talk to you about it? Or will one come and give me a list price, even if I choose to not sell yet or even use them?
Flag Wed Feb 4, 2015
Scott Johnson, Agent, Richardson, TX
Tue Jul 15, 2014
Here is a link to a blog I wrote about the various values that are placed on real estate. One of the topics that comment on is the inaccuracy of Zestimates and other AVM's. http://firebossrealtyaroundtown.com/2014/05/04/when-property…

If you would still like the real value of your home, I will provide a FREE Comparable Market Analysis (CMA) to let you know what your home is worth in today's market. Just use this link and fill in the information http://www.northeastdfwhomes.com/sell/

If you are looking at Homes for Sale in North Texas you can click this link to see what is available http://www.northeastdfwhomes.com/listings/areas/23468,23469,23474… That's a lot of homes in a wide price range but you can click the Advanced Search link at the top of the page to change the criteria for a more detailed search.

Unlike most of the property search sites on the internet the FireBoss Realty property search site, http://NortheastDFWHomes.com , is connected directly the the North Texas Multiple Listing Service (MLS) and has the most current and accurate information about every property listed for sale or rent in North Texas. The site will ask you to register with an email address so that you can save the properties that you like and set up listing alerts. Listing alerts allow you to customize your search criteria and then be notified whenever a property meeting your criteria comes on the market. In this ultra-fast moving seller's market listing alerts keep you a step ahead of most of your buying competition.

If you have any questions or need any assistance with your real estate search please feel free to use any of the links below to contact me.

Scott Johnson
FireBoss Realty
469-269-0911

http://www.FireBossRealty.com
http://www.NortheastDFWHomes.com - Property Search Site
http://www.FireBossRealtyAroundTown.com - Blog
http://www.northeastdfwhomes.com/cp/mobile-app/ - FREE Mobile App
Web Reference:  http://FireBossRealty.com
0 votes
Linda Lorenzo, Agent, McKinney, TX
Sun Jul 13, 2014
Only Realtors in Texas have access to the sold comps. Any of us would be happy to run those for you - no charge. if you are working with an agent just ask them, if not I would be happy to assist you. The market in McKinney is crazy right now, we are seeing multiple offers all the time.
0 votes
Oops just noticed this is an old post - hate when agents reply to something old and then it looks like a new post.. Reminder to all of us to check the date. Hey Brenda Carey I'd be happy to compare my comps to yours!
Flag Sun Jul 13, 2014
Scott Godzyk, Agent, Manchester, NH
Sun Jul 13, 2014
That is a big no. They are often not correct. The best way to find you value is to have a local and trusted agent who can complete a BPO or CMA which will give you a real and true value
0 votes
Annette Law…, Agent, Palm Harbor, FL
Sun Jul 13, 2014
BRAZ in McKinney Texas,
It has been my experience that folks RARELY ask a question for which they do not already know the asnwer, They to to the itnerent seeking validation for what they have already decided.

And look, their BRENDA, waving her hand.

Here's the reality. When a REALTOR consults with a home owner regarding the sale of a home, we do a significant amount of analysis. One element of that is analyzing the public data that a buyer willl be reviewing. That means ZILLOW.

We absolutely do know what the Zillow number are and what the real numbers are. The challenge is selecting the REALTOR who can leverage or mitigate this dynamic.

Be aware, some lenders are so lazy they willl rely on Zillow numbers. Do not let the lender the buyer chooses make of you a victim of unintended consequences.

Both Zillow and Trulia are suitable only for entertainment. Serious buyers and sellers will and should be using the tools of serious people.

NOTE: There are well defined, very selective circumstances where Zestimates are close. If you don't know what they are, (and you can't know because you don't have access to the reliable, timely information required) those Zestimates are pure random numbers.
0 votes
Brenda Carey, Home Buyer, 75070
Sat Jul 12, 2014
Zillow , by realtors, will tell you it's not credible but I find realtors to be as bad as used car salesmen - only in the sense they tell you want you want to hear despite reality staring you in the face. I'd love an honest answer to that but not sure we will ever get one. I can say, I sold my home who my realtor told me was way to high but I didn't budge and it sold for 4000 less that zillow and I started at. There is always negotiation in there. I hate that too.
0 votes
Brenda, you have have a real opinion?
Flag Sun Jul 13, 2014
Amy Arey, Agent, Allen, TX
Mon Jul 7, 2014
NO--they AREN'T. In fact, I once had a seller contact me "after" we listed his property, confused, and a little angry because he thought "I" listed the price on Zillow. It is rumored that if the property has two liens, that Zillow takes the first lien-amount and lists only that price. The best way to get the value of your home is to have an agent run "comps". I say this because the sales price has to be disclosed in MLS for surrounding homes, so you'll get a much more accurate comparable value. You definitely wouldn't want to sell yourself short :)

-Amy S Arey
Halo Group Realty, LLC
214.901.1341-Cell
http://www.Aarey.HaloAgent.com
http://www.MckinneyRealEstateInfo.com
0 votes
I believe any intelligent person can run comps for his/her own neighborhood better than a realtor.
Flag Sat Jul 12, 2014
Kenneth "Ken…, Agent, Dallas, TX
Sat Jun 28, 2014
NO, only Realtors and Appraisers have access to SOLDS on MLS. Not any online site. Online sites use guesstimates.
http://www.tcrdallas.com
0 votes
Amy Arey, Agent, Allen, TX
Fri Jun 27, 2014
From my experience, Zillow's information has NOT been accurate. I could be wrong, but they seem to derive their values from the taxed value of a property (which we all know is generally only 85-95% of the "Real" value of property. I have also heard that in the situation of a property with two liens, they would only show the first note (not the actual value) of the property. The best way to show the potential value of your home is to have a Realtor run sales comps. Remember, the "value" of your home is what the general public is willing to pay for your home.

Feel free to contact me if I can be of any service or if you simply have questions.

-Amy S. Arey, Realtor
Halo Group Realty, LLC
214.901.1341-Cell
http://www.aarey.Haloagent.com
http://www.MckinneyRealEstateInfo.com
0 votes
Annette Law…, Agent, Palm Harbor, FL
Fri Apr 25, 2014
They are fictitious and purely random numbers.


A bit lower is putting it mildly.
These number are the biggest obstacles, the cancer on improved home values.
Select a REALTOR who knows how to negate this plague and get you top dollar for your home.

Best of success in selling your home.
0 votes
Not it all I can give you a FREE market analysis of your home contact me today 972 987 0438 or email me at esther@ebby.com. You can also visit my website esther.ebby.com
Flag Thu May 1, 2014
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