Profile picture for user973388

Why would Zillow ruin my chances of selling my home by saying it was worth less than a two bedroom

Zillow has destroyed my homes  real value and chances of selling and it has far over estimated homes sold across the street worth far less and there sold now! Even the house in my own yard last year sold for 155 and you guys said it was worth that! and the other just this week closing is so much less home than mine as far as a home goes and has less driveway less appliances less rooms and bedrooms, No  New,, and new roof carpet plumbing all drywall, every single thing I have is new here and you guys told all of America houses worth far less with fewer rooms were worth more.. thus destroying my sale of a home that is so obviously better!  I have taken the State board MY father owns tmibercreek realty MY home is worth far more than what you guys said it was.. cant you fluctuate your guesses to my favor more cause you  have not been right here... I have been here for more than 20 years and I see homes that are trash selling for more than you guys said mine was worth.. thus destorying mines value.. to the market..  people actually pay attention to the crap you put in there even if its really far off base!!! this destoying my investment for years.. to be fair dont try to say a two bdr is worth more than three by 80,000 as you did across the street! do you guys really know anything about comparibles?
  • May 22 2014 - Columbus
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Answers (7)

Zillow can't ruin your sale unless there are no Real Estate pros involved and it's only a seller and a buyer with cash who are relying on a zestimate to prove the value.
Everyone in the Real Estate profession knows that zestimates mean nothing. They will each inform the buyers about this.
When the lender hires an appraiser to give them the value, that will be the final proof.
  • May 22 2014
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Profile picture for dgupta1
Welcome to Zillow & Zestimates. Just have a patience. And imagine if you had 5 homes and checking the data for each home, Zillow has info about 110 Million homes from all over US. Jus correct you home data in Zillow. Claim your home as an owner and correct major items like BRs, BA, SQ. Footage. Lot size and updating remodeling Window, Doors, Kitchen, Bathrooms. I know it personally.  I did claim one house in Minnesota. Its starting Zestimate was $160K.  Then I updated information for Kitchen remodeling, Windows Replacements, Bath Remodeling, with in one moth, my zestimate was updated in  3 weeks to $240K . Which closer to market. If you have a question, Give me a call or send email.  Good luck and have patience. Work on it.
  • May 22 2014
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Profile picture for sarahleonard
Agents in your area will know what the home is really listed for and what it is worth.  This is the problem with relying too much on internet searches.  Not all the information out there is accurate.

Best of luck to you!
  • May 22 2014
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There is a lot of love/hate with Zestimates.  They work best in areas with large subdivisions of homes built in the same 5-8 year period. That is just about exactly opposite to what our housing is in Sonoma County, where we have a wide selection of homes: ranches, country properties, Victorian, vintage, etc.

But, in 14 years of doing real estate I have never once heard from a buyer, or more importantly an appraiser, a single word about Zestimates. So, I can tell you that Zillow absolutely did not ruin your home's value. The market determines the value. So, whatever similar properties in a nearby radius that sold in the last 3 to 6 months are what informs your home's price, not Zillow.  

 
  • May 22 2014
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We fight this battle often when speaking to clients and customers.  Assuming that you are speaking about the Zestimate it is an algorithm that they use to value the homes.  The algorithm is taken from public and user submitted info.  


The first thing I would do is make sure your information is all correct.  


Claim your home:

http://www.zillow.com/help/claim-your-home/

And make sure the facts are accurate

http://www.zillow.com/wikipages/Edit-Your-Home-Facts/


If that doesn't work I don't really have much for you. It is important to also know that Zillow knows that they are not fully accurate.  Here is their accuracy data:

http://www.zillow.com/zestimate/#acc

Unfortunately people do look at it as a value and not just a very generic estimate.
  • May 22 2014
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Zillow doesn't do compatibles, they use public records.

Don't to much of  a panic over it, we Realtor have gotten good at explaining away Zillow's goofy numbers.
 
  • May 22 2014
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We all wonder why they continue with the guessing of values.
  • May 22 2014
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