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It isn't just realtors that Zillow hurts. Their zestimate is nothing but the roughest of guidelines. It is little better than a general market trend in a geogra
by teilo 9y ago
It isn't just realtors that Zillow hurts. Their zestimate is nothing but the roughest of guidelines. It is little better than a general market trend in a geographical area. I am not a realtor, but a homeowner who learned, from experience (buying and re-financing my own home) that Zillow is useless.
I can understand if it causes homeowners to set unrealistic expectations regarding the value of their property, because, lets face it, there are a lot of "unsophisticated" home owners / buyers out there. Some of these homeowners / buyers make life decisions based upon bad information. Yes, they should know better, but many don't.
A home buyer / owner is looking for trusted authority for their property value. The only legitimate authority to make that determination is an appraiser. Zillow puts themselves forward as a trusted authority, which they definitely are not. The unsophisticated buyer / owner sees them as a way to avoid paying for an independent appraisal. But mistake.
- prostoalex 9y agoI am not sure how anyone is hurt. If you don't like Zillow Instant Offers, don't use Zillow Instant Offers. If you don't like Zestimate, don't use Zestimate. If a seller has relied on a Zestimate and priced their home way out there, let it stay on the market with zero bids for a few months, and maybe they will get the message.