Lets just say you had a really good idea of what someone looked like or how they were, but you’ve never really spoke to them or never seen them; would you marry them? No way! Me either….That’s sort of like trusting zillow to value your home. You see, zillow is an algorithm based on public data. Zillow has never seen the inside of your home, its a computer. Zillow comes up with a value based upon what your neighbors are selling for. They look at things like size, bedrooms, bathrooms, etc & they compare them to your neighbors. Things that they cannot take into consideration are upgrades, views, location, whether you have a larger lot, & all of these factors have a huge impact on the value of your home. Zillow even acknowledges their lack of accuracy, stating that in the united states as a whole, zestimates are within 10% of the sales price only 71.5% of the time. And they encourage you to get a more accurate evaluation from a licensed realtor or appraiser. That’s why you need my team and me. Hi, I’m Corey Fager with Keller Williams Realty. We live and play in this area & here an example of some costly mistakes that could have been made if our past sellers had relied on zillow’s zestimate. This one is on Celeste lane in Franklin. The zestimate was $421k but we sold it for $520k! Thats almost $100k difference. You can buy a lot with an extra $100,000. & What about Valley Park Drive in east Nashville. The zestimate was $246k & we sold it for $337k! You can buy a lot of toilet paper with $91,000! & lastly Westcrest Drive in Whispering Hills Nashville — The zestimate was $220k and we sold it for $339k. You could buy a couple nice cars with $119,000, right?
Can zestimates also be too high? Sure they can!
Call a professional who has the experience and the ability to assess & value your home by taking everything into consideration, not just an algorythm. Click below or give us a call so we can give you a custom marketing proposal from a real, live person. Corey Fager with KW – Love Where you Live!
To Zest or Not to Zest? Are Zestimate’s Accurate?