Hate Zillow? Reasons to never use Zillow.com

Do you believe your home is worth more than Zillow’s Zestimate says it is?

Years before I was a Realtor®, I was in the technology field, working for brokerages and Realtors. I did a lot of data management and information technology. I was also a graphic designer. As such, I knew how the internet was going to change the game. As both a creative person (musical and artistic) while also being a programmer (methodical and focused) I was able to coalesce my skill-set into a career. Lots of players have come and gone over the last 15 years. I have many friends in the offices of Realtor.com, Trulia, and in one of the new players, Zillow.

What is Zillow?
Zillow is a website that presents information syndicated by local Realtor® Associations, like the one I belong to in Prescott, Arizona. They present the data to consumers using data-crunching behavioral technology. They don’t do anything we don’t do as local agents with half a brain.

Why do people use Zillow?
Because they’re good at marketing. They’ve somehow convinced Realtors® to sell their souls for leads. This is somewhat ridiculous considering it’s our information they’re using. From a marketing standpoint, Zillow has never deleted a syndication. This in turn results in a massive amount of data; data which when used online, attracts attention from Google and other search engines. Follow that up with some good commercials, and you have the American public’s attention.

What Zillow is doing wrong.
They provide horrible data. Did you happen to know that in Prescott, Arizona, Zillow’s accuracy on the Zestimate is only 70%-80-% correct? Sounds pretty good to be 80% correct though, right? Okay, then we agree your house is worth $200,000 in real life, but because the Zestimate is only 80% accurate, the price is now $160,000! There is no way to possibly gain an accurate understanding of your home’s value using Zillow. Yet people still surf Zillow’s website looking for data.

I completed a Zestimate for a recent client in Prescott. The Zestimate estimated the property at $360,000. I sold the property for $393,000. The appraisal came in at $425,000. Because I knew the appraiser was new to the area, in my report to the appraiser I personally blasted Zillow’s Zestimate with my CMattA, (my version of a CMA) It was this version of a proper CMA that may have allowed the property to appraise properly, and the loan to fund. What would have happened to my client should they have elected to sell FSBO, and rely on Zillow’s Zestimate to properly price their Prescott property? They would have sold for $360,000 or less. This would have resulted in the prices around the entire neighborhood dropping. Did I do anything unusual?  Not in my mind, I was simply doing the work necessary to get my client the most money. Something Zillow does not do.

No contract, no responsibility
Because there is no contract with Zillow, they have no obligation or responsibility to you, the client. If they think your home is worth $80,000 less than it is, so be it. Try convincing the rest of the world it isn’t so. As a licensed agent with the Arizona Department of Real Estate, The Prescott Association of Realtors, and the National Association of Realtors, I can tell you, having a local professional fight for you is worth its weight in gold. Do you seriously want to allow a website to dictate what your investment is worth? How about when it’s to your detriment? You did a bunch of upgrades? So what, Zillow doesn’t care. They don’t care because the only thing they do care about is traffic. Traffic equals dollars. Now, try and hold them accountable. Nice try. They’ll tell you that they just collect information. If you have a problem, talk to your local Real Estate Professional. Zillow places the responsibility back on the local agent. With this sort of neglect toward your concerns as a seller or buyer, you have to take back your power.

Reason to delete Zillow off your bookmarks
Use a local agent’s website. I don’t get my data from Listhub like Zillow & Trulia. I get my data from my local association that I’m a member of. The same association that supports our locals, our local shops, our local firemen and police departments, businesses, and you. Zillow is not working for, nor do they care about Prescottonians (residents of Prescott, AZ)

Trust a local
We all subscribe to the idea of supporting each other in Prescott. We pulled together after the Yarnell fire tragedy, we collectively mourn the loss of our downtown 4th of July water fights, we feel the pain when a local is lost to a tragedy or rejoice when a Prescottonian experiences a victory. There are those Realtors® we all wish to avoid, but for the most part, we’re hear to help you.

We shoulder the burden with you, and want you to achieve your goals of financial freedom. One of those responsibilities is to help put your home in the best position when you’re ready to sell it. Does Zillow have that kind of concern? Sure, about as much as the banks do when you miss a payment. The truth is, they don’t care at all. The distance creates an interesting scenario in regards to data, but it does nothing for your ability to sell your home properly.

Tired of Zillow, call me and get a real estimate of your home value.