Profile picture for jbnealer

zillow's mis-pricing of my property

My home is tens of thousands dollars estimated lower than homes around my house -
for instance a two bed/one bath is estimated as $50000 less than my FOUR bed/one bath house. I have tried to bring the estimate up by listing all the improvements to my house, but the estimate is still really low. What do I do- Zillow is chasing away potential buyers!!!!!
  • April 13 2011 - Newbury
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Answers (5)

More important is the tax assesment of your home. The zestimate doesn't know how awesome and hooked up your house is or how gross and outdated. The price is what someone will pay. If someone won't buy your home because of the zestimate even though their realtor tells them it comps and appraises then they are stupid.
  • April 13 2011
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Profile picture for wetdawgs
When one edits the core facts that affect the Zestimate (lot size, house size, room number) and hand selects comps, it can take several weeks to several months to be reflected in a change in the Zestimate.  The last one I watched carefully took 8 weeks.    As you just did the edits yesterday, the clock started ticking yesterday. 
  • April 13 2011
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Profile picture for jbnealer
I know all about realtors - my problem is that people that have come to look at the house have made comments about the low estimate of zillow. I and realtors tell them the reasons, but it is still irritating that they have in their minds that my house is worth tens of thousands less than it is. Example, my next door neighbors house has no basement, no garage, two less bedrooms - and it is "listed" at an estimate that is significantly higher. How am I supposed to battle that??? It seems that zillow is hurting people by not listing accurate prices
  • April 13 2011
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Yes, Zillow's estimates can be a bit off, but don't fret.

Most real estate agents who are helping buyers find a home use their local multiple listing service to locate homes and to develop estimates. They will develop a competitive market analysis using sales information from the MLS, assessments from the city/town the property is in, etc.

Most don't use Zillow to develop a offer.

On the other hand, shoppers who don't rely on buyer agents may be influenced by Zillow's estimates if they are relying on Zillow ---

  • April 13 2011
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Profile picture for Sharon Lewis
Frustrating for you , yes, but Zillow only offers an 'estimate' or Zestimate, see Frequently Asked Questions....if you really want to know what your home is worth, ask a local realtor to do a comparative market analysis or hire an appraiser to do the same....are you selling? Well just know as a realtor, I only rely on the information I get from the Multiple Listing Service, mls, not any of the hundreds of search engines out there....Zillow is for you to start your search, see what is available, I believe Zillow thinks you will eventually contact a professional. You wouldnt go to someone loosely working as a doctor would you, you would go to the professional.
  • April 13 2011
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