The Truth Behind Online Home Value Estimates

Which is more accurate: Zillow’s Zestimate or Redfin’s Estimate?

This article explains it best…
Read article here!

If you want an accurate estimate, ask your Realtor for a custom “Comparative Market Analysis” (CMA). Even Realtors have auto-generated report links on their websites… So the key is to ask for a >> custom report! 

What is the difference? When I prepare a custom CMA for a client, I will consider the current state of the home. (specifically the appearance & condition) 

Then, I’ll comb the market for similar homes that are listed for sale, under contract and have sold in their direct neighborhood. 

These homes are called comps or comparables. By doing this, it will give you the good idea of what your home can potentially sell for right now.  

In my opinion, finding comps is an art. It can be pretty detailed and complicated at times.  So, it is very important to give as many details about your home, or even have your realtor see it beforehand. Especially if you want as accurate of an estimate as possible. 

FOOD FOR THOUGHT: A computer has not seen your home. So how accurate do you think it really is? It’s a computer generated algorithm based on your address and specs of your home.

Here’s what Zillow says about their Zestimate

Here’s what Redfin says about their Estimate

They both firmly state that their estimates are just starting points. They also recommend getting either an appraisal or expert pricing from a realtor for a more accurate estimate. 

BOTTOM LINE: If you want something more concrete… Ask your realtor. Don’t price  your home based on computer generated estimates. “Pricing right is always the key to a successful sale.”

Don’t have a realtor? It would be an honor to provide you with a custom CMA of your home! >> No strings attached. I’d be happy to provide one even if you plan on listing your home For Sale By Owner! I’m always here to help!

Follow the link here to submit your request today!

One Reply to “The Truth Behind Online Home Value Estimates”

Leave a Reply

Your email address will not be published. Required fields are marked *