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Zillow uses a computer-generated algorithm, called a Zestimate, to help homeowners come up with a value for their home. This algorithm uses data from recent local home sales, as well as your square footage and location. The problem is, it can’t compute some of the most important things that come into play when pricing your home.
Zillow’s algorithm can not compute whether your landscaping is new, you have a refurbished back patio, an in-ground pool, or anything else that adds value and makes your home unique. There are so many things that increase your home’s value on the market that Zillow doesn’t even consider.
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Zillow’s algorithm isn’t strong enough to give you an accurate value.
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At the same time, a Zestimate can’t determine any negative aspects of your home that take away from its value. If you have an unkempt yard, live across from a junkyard, or have an outdated roof, that will take away from your home’s market value.
More often than not, Zestimates are too high or too low. Very rarely are they accurate. I do think it’s a good place to get a starting point and give you an idea of what your home is worth. However, once you get that value, it’s time to hire a professional agent to help you determine what price you should actually list the home at. If you have any questions or need any help pricing your home, don’t hesitate to reach out via phone or email. We would love to hear from you.
