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Zestimate (Z-estimate?) is Zillow’s home value estimator. If you’re a homeowner, you probably get this, if you’ve registered your home address with Zillow.<

The question is, how accurate is that calculator? I mean it would have to be pretty close right? Like, doesn’t Zillow have all the information it can have to tell you exactly what your house is worth? Not exactly.

Zillow does have fairly accurate information, but it doesn’t know how much work you’ve put into your house, for better or worse. It also doesn’t have the most up to date information.

For example, Zillow is showing you the estimate of your home value based on comparable properties within a 1 to 5 mile radius that have sold in the last 6 months. But Zillow is also not up to speed with the current sales in that market.

So, if you’re looking to list your house soon, and your going off your Zestimate that says your house is worth $450,000 but your neighbor just closed their house yesterday, or last week even, it has the same floor plan as yours and it sold for $475,000 – ZIllow may not be factoring this in, so it’s likely giving you a lower estimate than your house is worth. That can go the other direction as well. They give a pretty wide range.

Is it accurate? As a true “estimate”, not to be taken as gospel truth – yeah, it’s close. But it’s likely not current. So, how do you get a closer, more current estimate without having to pay for an appraisal?

A REALTOR can give you a Broker Price Opinion. That’s me. I’m a REALTOR and I can give you a Broker Price Opinion on your house. Is it the gospel truth? No, but it’s probably better than Zillow. I look at current market conditions and can tell you not only what a good price for your house will be, but also, when should be the best time to sell. For that matter I can project how much you may get if you sell in the future.

There’s a lot more information that goes into selling a house than just how much it’s worth. And that to me is the real unknown that an app is never really going to deliver.

I do suggest signing up for a Zestimate for your house, sure, it’ll help you keep loose tabs on your value. Even OpenDoor is going to help you find a number, but they’re not going to help you figure out how to make that home sale work best in your situation.

Here’s the thing you may want to ask yourself, if you think you may be ready to sell: Do you want to work with someone who will listen, encourage, and empower you to sell your house the way you want to, the way you need to, or not? If the answer is yes, start building a relationship with a REALTOR today, so they can help you with whatever your plans are, and stand beside you as you navigate your future.

Give me a call if you want to know what your house is worth, or go to homevalue.tnhomeagent.com and send me your info. I’d be happy to help, and proud to get to know you better. Stay safe out there, take care!

By Published On: September 28th, 2020

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