When I talk to friends and clients who use Zillow, there tends to be a lot of inaccuracies in the data they receive. There are three areas in particular where they are finding the most inaccurate information.
1. Home values. We all know about Zestimates and it’s a common feature. While it’s a fun way to get a starting point, you shouldn’t list your home for a price just because Zillow told you to. You really need to talk to a real estate professional in order to get your home’s true market value. You won’t be able to get that with a Zestimate.
2. Mortgage payments. Again, when Zillow estimates your mortgage payments, don’t take those at face value. They don’t know what kind of interest rate or even what kind of loan you could qualify for.
3. Real estate agent information. Zillow makes a lot of money from agents paying them to be featured on their site. Most of these agents are highly respectable and experienced, but not all of them are. Make sure you interview the agent you are thinking about hiring in person (or at least over the phone) to get a better idea of their experience. Ask them questions like how many homes they have sold, how much their marketing budget is, and what their average days on market is compared to the market average.
It all boils down to working with a professional agent and professional lender. If you’re thinking of buying or selling, we can help you with both of those hires. If you have any questions for us, don’t hesitate to give us a call or send us an email. We look forward to hearing from you soon.
If you have any questions for us or are looking to buy or sell a home, don’t hesitate to give us a call or send us an email. We would love to hear from you.