Is Zillow Really Accurate, Take A Look For Yourself

 

Is Zillow Really Accurate

 

Over the past 5-7 years, the internet has become the main source to get information, especially when it comes to real estate. With so much data available, we think it is important for consumers to understand exactly what they are reading. 

Today, we are going to be looking at one of the most visited sites, Zillow.com. Zillow has quickly become known to consumers as a good place to go to check home values, and is a fine site. However, a problem that a lot of real estate agents have is that people seem to be putting too much weight on the numbers they see here, and are paying less attention to the more accurate figures they receive from us.  I couldn't tell you how many conversations I have had with a client that starts with them saying "you know, we were on Zillow, and it says our home is worth..."  

I guess I don't blame someone for wanting to believe some of the things they read on line, but we thought it was time to set the record straight.  Let's take a closer look at the information you are getting.

If you go to Zillow.com, there will be a link at the very bottom of the home page that takes you to a disclaimer regarding their values.  Here's what I'm referring to:

 

 link to zillow accuracy disclaimer

         estimate Values and Accuracy        Terms of Use      Privacy Policy

Go ahead and click on the link above. Here, you will be able to learn how Zillow comes up with their homes values and see that they do in fact have a margin for error in their figures. They even give specific information on major metropolitan areas, such as our city, Cleveland.

You can even get more detailed information regarding Zillow's figures if you are the kind of person that loves details.

The point we want to make is that visiting sites like Zillow are great, but the numbers you see should be used merely as a starting point for discussion purposes only. Nothing replaces the information you can get from a local real estate expert.  In fact, Zillow even recommends getting a market analysis from a real estate agent, it even says so right on their site.

We find that a little education goes a long way, and hopefully you found this helpful. Now, if you end up sitting down with us to buy or sell a home, you won't start the conversation with ..."you know, I was on Zillow the other day...."