You’ve probably heard of Zillow’s Zestimate tool, but how accurate is it really? Today, I’m going to tell you why you may want to think twice before basing your decision entirely on an algorithm.
Recently, many of my clients have been asking me about Zillow’s Zestimate feature.
These days, many people go online at the start of their real estate transaction. But, what is a Zestimate really?
Zestimates actually use an algorithm to determine an approximate value of given properties. However, Zestimates can’t take into consideration a number of things.
One of the most important things the Zestimate leaves out is location. You may have a very similar metropolitan home to someone in a different area of the city, but Zillow won’t be able to differentiate between various locations.
Don’t base your decisions solely on the results of an algorithm.
Zillow’s Zestimate also can’t take home upgrades into account. Generally, the number that is generated is mostly based on price per square footage. If you’ve got a beautifully updated kitchen or a fabulous deck, Zillow won’t include these items in their Zestimate.
Giving an opinion on the value of the house without actually going through the front door is one thing, but actually evaluating a home’s worth is a different process entirely.
Don’t base your decisions solely on the results of an algorithm. I would be happy to visit your property and go over the features that make it unique.
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.