Everyone loves Zillow ... they have "all the information." The only problem is that Zillow is typically wrong on their values. It's no secret, they publish that fact on their website. They can't possibly be accurate across the board, because it's a computer system defining the values based on recent sales numbers. There are many more intangible components that increase (or decrease) the appeal to a buyer, thus affecting the value. An automated system has no way to assess or apply any of that information.
It's ok though, because that would be silly to base your home value on a computer system. Here is a quick example of what I'm talking about.
Here is another example. I listed this home in May 2017 for $550,000. Zillow said it was worth $532,000 at that time.
My sellers accepted one of four offers, after just a week, and we closed in June 2017 for $556,250. As of this post, Zillow says it's only worth $542,000.
That's a lot of money to leave on the table. Many buyers and sellers are relying on this to determine the value of their home. Always talk to a pro, maybe even more than one. I wrote about this in my book, which you can get a FREE copy here if you're interested.
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