I am a Realtor & you are so far off on my property. I just re-mortgaged & your $70,000 too low.

  • January 13 2011 - Peabody
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Answers (6)

Eva are you just finding Zillow?  These numbers are notoriously incorrect.  As a respectful colleague and someone who gets business from Zillow (buyers and sellers are reading these Q&A's), I gently recommend you delete this thread and dig a bit deeper about the origin of 'Zestimates'.  Sunnyvu has kindly put a link in her response below. 

  • January 17 2011
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Only a fool argues with an idiot. You're talking to yourself babe and no one's gonna change your Zestimate no matter how much you whine.
  • January 15 2011
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I don't want to argue with you.  I have been a broker in this city for 30 years and I don't know where you are located or if you even have seen the locations that you are comparing but you are definately wrong.  So I think you should do your homework a little better before you put false prices on houses.
  • January 15 2011
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I understand the difference between a zestimate is and what an appraisal is.  This was an appraisal done by a certified appraiser.  The locations that you are comparing 31 Wiseman Dr. to are so off base.  When someone does not know the area it is very unprofessional to give an estimate on a property. I have been doing this for 30 years and know my business inside and out.   
  • January 13 2011
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Congratulations on your refi. Since you are an agent, I  would hope you would already know the difference between an AVM and an appraisal and the difference between an appraisal for a refi and a sale to a buyer. You can find information on what a Zestimate is and isn't here.
  • January 13 2011
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Profile picture for wetdawgs

A Zestimate is not an appraisal, but a number generated by an automated valuation model from publicly available facts.    In many properties, the Zestimate is =/-20% of true market value, but there are others where it is further from the true market value.

There are things you can do, check the facts listed on Zillow and correct them if appropriate (claim the home first).   Then, use the "owner's estimate' feature so you can add on things that may add value but aren't part of the formula for the Zestimate.

As an agent, you owe it to yourself and your clients to get a thorough understanding of the Zestimate, as it often comes up in negotiations.  Fighting it saying it is wrong won't be the most effective way in interactions, so study up.

  • January 13 2011
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