Zestimate – Why Zillow Zestimate Accuracy is Wrong by 20% – 40%
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Zestimate – Why Zillow Zestimate Accuracy is Wrong by 20% – 40%


Hi everyone. Your Tampa Bay real estate
expert Lance Mohr and in this video I want to talk about decimate why Zillow’s
Zestimate is so inaccurate in many cases they’re off 20 to 40% on home values and
then I’m going to go over what you could do to get a more accurate assessment of
what your home is worth in the value of your own all right so I understand a lot
of people that are looking for the value of their home make a line Zillow’s
Zestimate and i understand when they’re looking they go on Zillow to look for
homes and and I understand why there was gorgeous it’s a great website it’s very
user friendly to consumers has a lot of great features mapping a whole bunch of
stuff it’s really attractive the thing with Zillow it’s highly
inaccurate now I said that there often a lot of times at home houses twenty to
forty percent their own CEO and you could look this up at their own CEOs
home value was off 40 percent and he has gone on record to say they know there’s
estimate is very inaccurate and they’re looking at correcting that down the line
because if you’re looking to get the value of your home you can’t just get it
from an estimator any estimator that just pulls data because there’s too many
variables what’s the condition of the home what’s the lot orientation you know
as the home been updated has it not been updated is it built by a high end
builders it built by our line builder you know there’s a lot of different
variables that go in there so as far as villo they’re not accurate on this
estimate and they’re not very accurate even when you look at homes twenty to
thirty percent of all the homes on Zillow aren’t even actively for sale
once they sit Doha is a mammoth advertising company in a data collection
company they’re not a nonprofit organization so what can you do about
that now there’s a couple reasons why people want the estimate in their house
sometimes you’re just curious just say I’m just curious to see what my homes
were or maybe you’re looking at selling your
home right now or in the next several months so if you choose one a ballpark
estimate it’s probably a better idea just get a hold of a real estate agent
giving your address just say hey just send me the comps from my area
everything that’s going on in the last six month in the Inogen can go ahead and
pull up your area they could send it directly from the mls all the souls in
the past six months the active attendees etc now now that is very basic because
you’re going to have to do your own analysis of it to see if you’re on a
conservation line and home across the street was backing up to a strip center
well there’s going to be a big price difference the other thing to do if
you’re looking at selling your home either now or in the future you could go
to a real estate agent and actually have them come out and take a look at home
they could pull all the comparables analyze them take a look at your home
give you a really good idea what the value of your homes worth and what you
might need to do to get it to sell for more money some really cheap and
inexpensive things to do that just tweaks it a little bit so you’re able to
get the high-end in the market I’m going to go ahead and put a video up above on
how to sell your home it’s a video series I did it’s going to walk you
through everything you need to know if you are going to sell your home if
that’s the reason why you’re getting a home value for Pete’s sakes interview
agent take a few agents in interview I have done several videos on this not all
agents are the same if so interview the agents make sure you get a really good
agent I mean if I’m put a couple other things up above I’ll put a link to my
website if you want the value of your home and you’re in the Tampa area of the
Tampa Bay area just go ahead and fill that out and I could do it if you’re out
of the area or out of state I really don’t have the access to do that so just
reach out to an agent in your area but I hope this helps you and again I’m not
here to bash Zillow it is what it is and you could even go online and just type
in Destin eight and or Zillow’s Zestimate
and there’s a lot of articles on this so I
hope this helps have a wonderful day leave a comment below let me know what
you think if you use estimate before let me know your experience alright have a
great day don’t forget to subscribe to my channel
good bye you

2 Comments

  • Owen Daniels

    I noticed an approximately $30,000 disparity on my home's Zestimate between viewing it while logged in as the home's owner and viewing as a guest, not logged on to my Zillow account

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