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Answers (1)
- wetdawgs
- Contributions:26826
A Zestimate is a number calculated with an algorithm using public data. In my humble opinion, the Zestimate range is far more important than the single number. (You can find the range for your home on the home details page). A Zestimate (and the range) are supposed to be the starting place for comparison of homes - not an offer price. Zestimates do not take into account a number of things that can add value to a home such as upgrades, views, waterfront etc.
The Zestimate Values and Accuracy summary is useful reading.
Your agent and the buyer's agent should be part of the educational process for buyers about AVMs (automated valuation models) of which there are more than a dozen on the internet. There are strengths, and weakness - but rejecting a house because of Zestimate suggests this education hasn't happened.
(I do not represent Zillow).
The Zestimate Values and Accuracy summary is useful reading.
Your agent and the buyer's agent should be part of the educational process for buyers about AVMs (automated valuation models) of which there are more than a dozen on the internet. There are strengths, and weakness - but rejecting a house because of Zestimate suggests this education hasn't happened.
(I do not represent Zillow).
How does Zillow arrive at values
How does Zillow arrive at values?
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