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The ZIllow Zestimate is 100K lower than it should be. How do we get an accurate Zestimate?

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September 15 2010 - Richfield
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Answers (3)

Happy Happy Joy Joy
The Zillow tool works great when the comparables (house that have sold in your neighborhood and with identical features) to your home are easy to identify.  The computer picks the comparables and off we go.

Most real estate is very local in nature.  I know: location, location, location.

You need a human to pick through the data and find the best comparables.  They then need to be adjusted to reflect how they relate to your home.

A Realtor can do this.  An appraiser can do this.  Computers are not yet able to successfully do this.
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September 17 2010
First off - how do you know with certainty that the estimate is $100k too low?  It might be $100k lower than you "want" it to be, but only the "market" can tell us what the value is.  What type of price range are we talking about; is your home in the six figure range or 5? 

You can help Zestimate get closer by including you own comparable:

 
Create Your Own Estimate

  
1. Enter your address in the search box, then click "Go"
   2. Click the address link to go to the Home Details Page(HDP) for the property
   3. Under the Zestimate go to Create Estimate.

Here you'll be able to do a number of things, including:
  • Update home facts
  • Add home improvements
  • Choose comparable homes(aka "comps")
  • Add comments about the property or your estimate




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September 17 2010
First off,  Zillow is not accurate. Its free - what do you want ?!?! Accuracy comes with a price.

Second, go here...

http://www.zillow.com/wikipages/Create-Your-Own-Estimate/

to create your own estimate- that might help.
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September 15 2010
 
Related Questions
The ZIllow Zestimate is 100K lower than it should be. How do we get an accurate Zestimate?
Profile picture for Sally English
Latest answer by Sally English
September 17 2010 | 3 answers
  • Asked by Happy Acres
  • In Pricing
  • September 15 2010
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