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Zestimate

Our zestimate is more than 40,000 less than actual price of home. I tried to go in and update facts but there isn't an option to o so since I'm using for sale by owner. The information on or sale by owner isn't transferring correctly over to your site. An offer was made on our home based on your site, which is hurting the price of our home. Please help!
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March 21 2013 - Newburgh
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Answers (8)

Profile picture for onthechestateeriver
Welcome to the world of Zillow. Work with a professional, competent agent or broker if you would like to get the best price in the least time. If you want to go FSBO and use Zillow, then you will deal with things like what you are dealing with. What will cost you more,  a low offer from someone using Zestimates, or a commission paid to a qualified broker who will make sure the price of your home is property set and advertsised?
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March 22
Home listed is 400K less than value of comparable comps, the home has completely been rebuilt 2 years ago after a fire. (Zillow doesn't take this in consideration) Zillow needs to stop with its algorithms and posting guesses (zestimates) and take responsibility, it is not helping the agents who are the reason why Zillow is in existence. It creates anger and confusion for the buyers and sellers, and a huge headache and potential loss for both clients and real estate agents.
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March 21
I am sooo sorry your having issues with the zestimates.  It is a thorn in us Realtors sides also.  We can combat that by showing the true value to a buyer by pulling up comps.   Zestimates pulls tax records and doesn't ever step foot in the property. 
Good luck and hope you get this resolved
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June 06 2013
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Ms. English, Referring to people as "Bozos" is disrespectful and unprofessional.
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May 17 2013
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These people or computers are idiots.....I want to stop this listing but can't find a way to do it.
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March 23 2013
Profile picture for user1412612
Same with me...I hate the fact they have no phone number to let them know.  In my case they listed my house as being 800,000 less than it would sell for....seems they are not in touch with ocean front property.
They are idiots!
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March 23 2013
We Realtors are used to dealing with the Bozos who try to knock down the price of our listings by using Zestimates. Zestimates are done by a computer that may not understand school attendance zones, different builders in the same subdivision, homes that have updates etc.

We go and pull the actual comparable sales for the neighborhood and use these to show a buyer what the legit sales price of a house should be.
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March 22 2013
The Zestimate is an estimate of value, nothing more. Zillow provides one for most homes regardless of whether they are for sale or not. Zillows guess is not necessarily any better than an assessors. Its just a guess. Value is determined by the market. Show your buyer the comparable sales in your area you used to price your home. Either the buyer is unrealistic about value because they haven't done their "homework", or you may be unrealistic about value because, well, its your house and you really love it! The buyer may be clever enough to feign ignorance and point to Zillow's number as well. Zillow thinks that is a house across the street from me. It is a duplex! Good luck with negotiations!
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March 21 2013
 
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Zestimate
Profile picture for onthechestateeriver
Latest answer by onthechestateeriver
March 22 | 8 answers
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