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Answers (5)
- sunnyview
- Contributions:25139
I do not believe that he Zestimate is something that Zillow removes from listings by request. It is only an opinion of value based on numbers and not an appraisal or CMA. You need to take time to explain to your client the limitations of the measure and time to explain your listing price based on current comps in the market.
Buyers are smarter than you might be giving them credit for. If you explain the limitations of any AVM like Zillow and are willing to present comps and recent sales your buyers will better understand your market and the listing price.
Buyers are smarter than you might be giving them credit for. If you explain the limitations of any AVM like Zillow and are willing to present comps and recent sales your buyers will better understand your market and the listing price.
- Pasadenan
- Contributions:21458
Well, I was curious how the 3 Zestimate trends differed, so I down loaded the data and generated one chart:
web address for full size to read text:
http://photos1.zillow.com/is/image/i0/i9/i3768/IS4ftyyk9bvpnn.jpg
Obviously, the one without the county record data (the listing one) fluctuates a lot more.
But interesting, that they are all falling and are about the same magnitude now.
Makes it look like there were some low sales recently. Perhaps some distressed properties included accidentally in the modeling?
It would be worth doing a search of the "recently sold" to look for discrepancies; but I'm not going to bother.
web address for full size to read text:
http://photos1.zillow.com/is/image/i0/i9/i3768/IS4ftyyk9bvpnn.jpg
Obviously, the one without the county record data (the listing one) fluctuates a lot more.
But interesting, that they are all falling and are about the same magnitude now.
Makes it look like there were some low sales recently. Perhaps some distressed properties included accidentally in the modeling?
It would be worth doing a search of the "recently sold" to look for discrepancies; but I'm not going to bother.
- Pasadenan
- Contributions:21458
Wow! You have some pretty small "thumb nails" for most of your photos on that listing, causing them to look exceptionally blurry.
That is what will hurt the interest in the property.
Don't you think you could load some better resolution images?
And you have 3 separate home details pages for the same property; 2 with the county records (which have slightly higher Z-estimates), and the one you are listing, that is missing all the county record data.
The last sold price and the date sold are both missing; so that could likely be why it is estimating a bit on the low side.
Typically, large differences between list price and estimate price is "good" as it gets people to open the page to find out why, thus creating better marketing exposure.
No comment posted on the Zestimate yet? Why not?
That is what will hurt the interest in the property.
Don't you think you could load some better resolution images?
And you have 3 separate home details pages for the same property; 2 with the county records (which have slightly higher Z-estimates), and the one you are listing, that is missing all the county record data.
The last sold price and the date sold are both missing; so that could likely be why it is estimating a bit on the low side.
Typically, large differences between list price and estimate price is "good" as it gets people to open the page to find out why, thus creating better marketing exposure.
No comment posted on the Zestimate yet? Why not?
- wetdawgs
- Contributions:26811
Joan was right on base on her description. The bottom line is that Zillow does not remove the Zestimate. You can either make comments with data why you think the Zestimate is off, or chose not to advertise on sites with AVMs
- Joan Braunschweiger, "Morris County NJ"
- Contributions:1543
Although I understand why the Zestimate annoys so many (although few people complain when the Zestimate is higher than fair market value), educating yourself as to what the Zestimate actually is (click on the very bottom of the page) will allow you to educate your sellers and any buyers and their agents who don't bother learning the difference between a computer generated figure and fair market value which is generated by humans (namely buyers).
How can I remove the Zestimate from my listing. It is worth way more than the zestimate
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- 0.0/5.0
- (no reviews)
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