The Inaccuracies of Zillow

If you are not familiar with Zillow they are essentially a syndication service for real estate listings. Zillow does have some very nice features on their site however there are a few things that are misleading to consumers including homes not actually for sale and their Zestimates of value.

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  1. Some Zillow Listings Are Not For Sale
    Some Zillow Listings Are Not For Sale
  2. One of the ways Zillow misleads consumers is by posting homes for sale on their site that are not actually for sale. Zillow displays what are called pre-foreclosure listings. A pre-foreclosure listing is someone who has missed a mortgage payment. This is public information that is collected by a company called Realtytrac. Here is the rub - Zillow posts these properties as if they are for sale when in fact they are NOT! Real Estate agents are constantly fielding calls by excited buyers thinking they have found a gem of a property. This is when the disappointment sets in. Secondarily what if you are an owner of a home and have missed a mortgage payment. Is it really necessary that this is broadcast to the world. It is to say the to say the to say the least. Most of the time those who have missed a payment catch up the next month and their home never becomes available for purchase.
  3. Zillow Displays Homes That Are Not Actually For Sale! In an increasingly frustrating situation Zillow...
  4. One of the worst features of the Zillow real estate site is their "zestimate of value". This is Zillows attempt at putting a value on your home. The problem here is the fact it's another way of misleading the public. People actually believe that what Zillow posts on their site is actually the value of their home- WRONG! Zillow home value estimates are consistently way off the mark. Real Estate agents are left to explain to consumers why they cannot go what a database of millions of homes across the country are worth. You could drop $50,000 into your home tomorrow and Zillow wouldn't know it. Read the in-depth article on why Zillow estimates of value are not accurate.
  5. Here are additional articles found online explaining why Zillow home value estimates are not accurate. You can find this excellent resource at Listly.
  6. Another excellent resource on why Zillow estimates are for the birds comes from real estate blogger Kyle Hiscock of the Rochester Real Estate Blog.
  7. See the inaccuracies of Zillow over at Scoop.it.
  8. Here is yet another article on why Zillow estimates should not be trusted. This does nothing but confuse the public. It is a well written piece by Karen Highland of the Highland Group with Turning Point Real Estate.
  9. Are Zillows Home Value Estimates Accurate
    Are Zillows Home Value Estimates Accurate
  10. Did you price your home incorrectly because you relied on a Zillow estimate? Maybe it is time to go back to the drawing board and reduce your home price!
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