Here’s a tip about the automated valuations.
We know that Zillow and Redfin automatically adjust their estimates to within a couple of bucks of the list price once a home goes on the open market, making their estimates worthless to the reader.
But Realtor.com doesn’t.
Here are their differences before and after our new listing hit the market yesterday:
BEFORE LISTING ON THE MLS:
TODAY:
If you want estimates of value on a house that is on the open market, check realtor.com.
Click below to see how the Zillow and Redfin estimates have changed:
Our new listing has been online for less than 24 hours, and the views and saves are racking up. My typical observation is that the better-priced listings have saves that amount to 5% of the views, so we’re doing ok so far.
Here is how the zestimate looked yesterday morning:
Redfin before and after:
AFTER:
MLS ACTION FIRST 24 HOURS:
The evil that are the Zildoes cannot be overestimated. A rental we own was listed a few years ago by our agent. The nice, copyrighted interior pictures were stolen and are now a permanent part of the Zilbeast’s database. With their claim of copyright!
Everyone in Real Estate is worse off because they exist.
We let it get to be the 800-lb gorilla.
I’m surprised there hasnt been class actions against Zillow for incorrect “zestimates”.
I guess I’ll have to wait for this to happen when prices start going down.
Oh wait they have. But it was for hiding info from the feds to inflate stock prices. Something related to Zestimates will happen soon…
https://topclassactions.com/lawsuit-settlements/consumer-products/zillow-agrees-to-15m-settlement-following-federal-probe-into-securities-violations/
I tell people…Unlike public companies listed on the stock exchanges,! your home’s value and private company are is not flashed on a TV or Computer Screen from 6:30 am to 1:00 pm Monday thru Friday. The only way to find the “true” value of your home or business is putting it on the open market to see what a willing buyer is willing to pay and assuming you are a willing seller. Hence, in real estate,’no pocket listing because that buyer may not be the highest willing buyer. It takes WORK to get the highest price. That goes for pre-game prep, negotiations on game day and shepherding the escrow all the way to funding.
Thus , “Let JTW WORK to find the “true value” and the highest price when you want to sell your home.”
There. I made your marketing pitch for you. Good luck with your new listings!