2 Reasons Zillow Gets Home Values Right, Half The Time


9 times out of 10, people check their home value on Zillow or Trulia prior to calling a real estate agent. I personally think these sites are great considering they get it right about 50% of the time (when you take into account that an algorithm is trying to determine a very complex ordeal such as the value of a home…props to that).

So why do they miss the mark the other 50% of the time?

I don’t really know, and I doubt anyone else truly knows, but here is my guess. Because they can only see what’s on the outside of the property thru the eye in the sky – aka satellites –  and they can only analyze what can be found on public records such as number of beds, number of baths, etc.

The problem here is two-fold.

  1. Often, public records are incorrect
  2. These sites can’t see the interior of your home

Say you added a family room to a property. Or your home was built in 1975, but you have made an update here and there. It’s this lack of accurate information that can distort what’s reported in sites like Zillow.

Questions about your home value? Call / text (305) 305 1535 or email me!

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1 reply

  1. Property appraisers give little regard for updates to the property. The most accurate way to asses the value of your home is by square foot and room/bath compared to those that have sold with similar attributes. Also, please check your facts because you don’t sound like a statistician. 9 out of 10 and 50%, please don’t just throw these figures around because that is what you are doing.

    Please stop trying to make realtors sound like they know what they are talking about. It won’t be long before we don’t need them anymore to close on homes. A monkey can become a realtor.

    Like

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