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Will Zillow give you an accurate home value?

Posted by admin on June 10, 2020
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Zillow’s a good place to start if you want to get a general estimate of what your home is worth. Zillow’s Zestimates give you a property value range, based on public records of the property’s:

  • physical attributes;
  • tax assessments; and
  • prior and current transaction data.

The drawback? Zestimates are generated by a computer, not a person. Improvements and defects are not taken into consideration. It provides estimates for an expansive database of properties and gives a snapshot of the overall market.

If you’re serious about selling, you’ll need more than a general estimate. A diligent agent compares your home’s unique features with recently sold homes to ensure accurate pricing.

Agents determine the value of your home by preparing a comparable market analysis. The comparable market analysis is based on:

  • property type and size:
  • number of bedrooms and bathrooms:
  • age, condition and style;
  • location; and
  • dates of recent sales.

Agents, unlike Zillow, gather data by:

    • researching the Multiple Listing Service (MLS);
    • previewing comparable properties;
    • viewing photos of properties; and
    • contacting buyer’s and seller’s agents of comparable properties.<

Zillow and online home valuation tools are important in today’s market, but they’re not a replacement for professional advice.

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