Have you used Zillow for a Zestimate?

I have clients ask me all the time why their home is not worth as much as it says on Zillow. No that everyone has the internet on their phone and goes to the internet to get information, it gets harder for me to get you to trust me on why you home is worth $$$. Zillow can not be accurate for each home with everything in consideration.  They do not have the time or information for every home with the real date to come up with a market value like we can.   I know it is hard for you to trust us, Kim and Terra, over a big internet company. But here is why you should trust us…

If you go down to the bottom of the page on Zillow Zestimate you will see an About Zestimates in faint and I mean faint gray that is a hyperlink. Click on it and go to Oklahoma and Oklahoma County. You will see that THEIR margin of error for Oklahoma County averages 11.2% and that 67% of their Zestimates are within 20%. That means that a $500k home could be off as much as $100,000 by their statistics. Or with $100K it could mean the difference between a fair market value sale or foreclosure. Below I captured a chart to show you these numbers. As they say when you put down your Royal Flush in Texas Hold’em, read Zillow and weep. Oh wait, call Kim and Terra next time you want a TRUE and FREE Comparative Market Analysis of your Home!

This information came from the Edmond Board of Realtors President – Posted: 18 Apr 2011 12:13 PM PDT

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