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Answers (5)
- wright5
- Contributions:5
In Henrico County VA, homes are graded by the assessors office. Our block has "AA" and "A+2" and "B+2" all on one side of the street. Assessments vary widely and this factor is where I saw the difference in quality of homes.
- Craig Fauver, "Realtor_VA"
- Contributions:17
You cannot have zestimates removed!
- wetdawgs
- Contributions:26945
Zillow doesn't allow the Zestimates to be removed, therefore, your board made a decision that can't be enforced. I guess if in your shoes I would present it to your clients "either I don't advertise your property on Zillow, or I do and the Zestimate remains as it is Zillow's policy".
- Glenda Cherry, "Glenda Cherry"
- Contributions:225
If you're talking about VAR Form 400 - Exclusive Authorization to Sell,the authorization refers to the display of (or linking to) such information on the broker's website. It does not prevent any sites such as Zillow from displaying the valuation. More information here: http://faarforum.com/2011/03/var-makes-changes-to-form-400/
- Melissa Loughridge Savenko, "Melissa_Savenko"
- Contributions:227
Dottie:
Unfortunately, I do not believe you can get rid of your Zestimate. If you find out a way that you can, please let me know!
However, there may be some ways to counteract or mitigate an outdated and inaccurate Zestimate. Here are some ideas:
1. Have you owned your home for a long time, typically 6 or more years? If so, your Zestimate should be based on what you paid, plus the assessed value increases over time. Since those assessed value increases are typically a small percentage, intended to reflect appreciation, you may have had a 2-3% appreciation value applied to your home over time. If you live in a neighborhood that had rapid appreciation and has held it's value, that 2-3% increase may very well not reflect true market value.
2. Is your home in a unique neighborhood? Is it an older home? In these situations, true market values can vary widely based on the age and quality of a renovation, and the availability of certain amenities, such as a basement, a garage, off-street parking, some locational advantage. I work in the City of Richmond's historic neighborhoods, and that is quite often the case - House A may be worth $350,000, and House B - on the same block, with the same square footage, bedrooms, and baths - could be worth $500,000. Zillow often woefully undervalues Home B.
3. Consider getting an appraisal. This will cost you a few hundred dollars, but is a written report by a professional trained in evaluating a home's market value and obligated to follow specific standards. The report should better reflect the true value of your home, after an evaluation of your home's specific amenities. It gives you an objective document that you can share with potential purchasers.
What happens if the appraisal reveals that your home is worth much less than you believe? Well, at least you know. Then you can move on to a Plan B, rather than going through the heartache and stress of trying to sell an overpriced home in this market. Best of luck to you!
Unfortunately, I do not believe you can get rid of your Zestimate. If you find out a way that you can, please let me know!
However, there may be some ways to counteract or mitigate an outdated and inaccurate Zestimate. Here are some ideas:
1. Have you owned your home for a long time, typically 6 or more years? If so, your Zestimate should be based on what you paid, plus the assessed value increases over time. Since those assessed value increases are typically a small percentage, intended to reflect appreciation, you may have had a 2-3% appreciation value applied to your home over time. If you live in a neighborhood that had rapid appreciation and has held it's value, that 2-3% increase may very well not reflect true market value.
2. Is your home in a unique neighborhood? Is it an older home? In these situations, true market values can vary widely based on the age and quality of a renovation, and the availability of certain amenities, such as a basement, a garage, off-street parking, some locational advantage. I work in the City of Richmond's historic neighborhoods, and that is quite often the case - House A may be worth $350,000, and House B - on the same block, with the same square footage, bedrooms, and baths - could be worth $500,000. Zillow often woefully undervalues Home B.
3. Consider getting an appraisal. This will cost you a few hundred dollars, but is a written report by a professional trained in evaluating a home's market value and obligated to follow specific standards. The report should better reflect the true value of your home, after an evaluation of your home's specific amenities. It gives you an objective document that you can share with potential purchasers.
What happens if the appraisal reveals that your home is worth much less than you believe? Well, at least you know. Then you can move on to a Plan B, rather than going through the heartache and stress of trying to sell an overpriced home in this market. Best of luck to you!
How do I get rid of the zestimate in my listing?
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