Using Zillow to find out the value of your home is just okay. Let’s put it into perspective. Just relying on Zillow is kind of like going on a dating app. People always put their best pictures up or a picture from 15 years ago. Sometimes they may even use pictures of someone else. My point is that those apps aren’t always a true replication of the person you’re going to meet up with for the first date. In fact, you may just fake sickness to get out of the date. Well, solely relying on Zillow for your Jenks 74037, Bixby 74008, Kiefer 74041, Mound 74047, of Glenpool 74033 home value is very similar. Using a dating app and relying on it for accuracy and the way a person’s profile reads is just like only using Zillow to value your home.
You see Zillow’s algorithm and they get their information from public data. Zillow has never seen the inside of your home and it’s a computer. Zillow comes up with a value based on what your neighbors have sold their home for. Zillow only considers things like the size of the home, how many bedrooms or bathrooms it has, Zillow basically compares those specs to that of your neighbors but they cannot take things into consideration, things like upgrades, views, location, and amenities. Zillow doesn’t take into account if you live on a busy, busy street if you live in a gated community and all those things that affect the price.
So you need to make accommodations. You need to make an adjustment just like an appraiser would when considering pricing. Maybe you just put in a $100,000 pool and Zillow didn’t take all that into consideration. And all of these factors have a huge impact on the value of your home. Listen, Zillow even has a disclaimer and acknowledges their lack of accuracy stating that in the U.S. as a whole, Zestimates are currently within 10% and the final sales price, 71.5% of the time. Wow, I really wouldn’t use those odds to value my most-valued asset, would you? Zillow even encourages you to get a more accurate evaluation by a licensed realtor or appraiser. And that’s what my team and I do. We take a detailed look at not only the comparables but also what the absorption rate is as well as many other factors when determining what to list your home at.
You have to consider inventory levels, buyer demand, interest rates, market climate, and so many other considerations in addition to upgrades, amenities, and location. Let me show you what I mean by relying on Zillow as an accurate evaluation to price your home. Here’s an example of a costly mistake that could have been made if our past sellers relied on Zillow‘s Zestimate. Looking at this charming farmhouse in Kiefer. The Zestimate was 238,000 and we listed and sold it for $339,000, that’s over $100,000 difference. You could pay college tuition and make a big down payment on a new house for that amount. Imagine if they would have listed with an inexperienced or discount broker who relied on the Zestimate or who didn’t have the knowledge to know better.
Relying on Zillow for the value of your home is the exact same thing is relying on a picture when choosing your mate. Maybe you should have swiped left instead of right. You’re only seeing half the picture with what the Zestimate is. Call a professional who has the experience and ability to assess the value of your home based upon taking everything into consideration, not just the things they can see. And hey, if you’re wanting a more accurate analysis of the value of your Tulsa County or Creek County home, give us a call or just click below and we will get you a custom market value analysis from a real live person who lives, works, and breathes real estate, full-time.
Reach out to us so we can guide you through your sale from when the sign goes into your lawn, from where we expose your home online to thousands of people, all the way until we hand over the keys to the new buyer and help place you into your new home. We’re here to help and we are looking forward to hearing from you. And remember, everyone should love where they live.