Lynn B. Friedman - Atlanta Homes ODAT Realty: Disagree with Zestimate using Zillow Comment Feature

Disagree with Zestimate using Zillow Comment Feature

Disagree with Zestimate using Zillow Comment Feature

Disagree with Zestimate using Comment Feature


When working with Clients, most real estate professionals contend with the comment "But Zillow says ..." whether working with Buyers or working with Sellers.

Zillow posted a link so one may Disagree with Zestimate using Comment Feature. Often real estate professionals disagree with the amounts in a Zestimate. And, often as well, homeowners disagree.

Zillow itself states that  a margin of error exists when they are pricing homes or condos. Nonetheless, the Zestimate is there for all to see and have whatever effect it has.

While Zillow is able to survey and make its pricing comments based on General Information, only the Homeowner knows what additional factors may not be included.

Now individuals may comment and add details about thier own homes that were missing in the Zestimate text about their own home. Add a new Kitchen? Fully finished basement? New Roof? Comment on it!

Certainly various renovation projects or additions will have influence on the home's value. Adding details to the Zillow profile will make those features count in a positive way for you as the Homeowner.
Have a happy day -
Lynn


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Comment balloon 36 commentsLynn B. Friedman • May 25 2012 12:17PM

Comments

Hi Lynn,
have delayed flying ATL until Oct.  Will let you know.  Yes Zestimate, I tell my clients the error in looking at their data and show the buyer or seller an more accurate picture with a CMA.  Takes more time, but it develops better customer loyalty.  Blessings! 

Posted by Bruce Hicks, Your Lifetime Friend/Helper! (Best Homes Hawaii) about 6 years ago

Hi Lynn, so many folks look at Zillow and I am always telling them that it is not completely accurate, then I run the accurate comps, not real sure I like the idea of being able to make comments on Zillow, may get more confusing to the consumer.

Posted by Kathy Stoltman, Ventura County Real Estate Consultant 805-746-1793 (Rockwood Realty) about 6 years ago

Dear Bruce,

If the trip is postponed - that means good news!
Zillow is helpful but one needs to understand how it works - right?

Have a happy day -
Lynn 

PS  Hi to V.  :-)

Posted by Lynn B. Friedman, Concierge Service for Our Atlanta Sellers & Buyers (Atlanta Homes ODAT Realty Call/Text 404-939-2727 Buckhead - Midtown - Westside -- and more ...) about 6 years ago

Dear Kathy,

Thanks for taking the time to stop by and comment. Like every tool, Zillow works when one understands its pluses and minuses. It certainly has a wide spread - doesn't it?

Have a happy day -
Lynn 

Posted by Lynn B. Friedman, Concierge Service for Our Atlanta Sellers & Buyers (Atlanta Homes ODAT Realty Call/Text 404-939-2727 Buckhead - Midtown - Westside -- and more ...) about 6 years ago

Hi Lynn - Have a great Memorial Day Weekend!  Zillow is just a royal pain and the addition of another layer will probably cause even more issues.  There is nothing as accurate as a well-done CMA and I try to convince all buyers and sellers that good results come from effort not the click of a button on Zillow.

Posted by Marnie Matarese, Showing you the best of Sarasota! (DWELL REAL ESTATE) about 6 years ago
Well, at least Zillow has added this feature. I think that it's a good step for them to take. Zillow should be acknowledged for that.
Posted by Mark Delgado, Benicia and Vallejo, Property Management, rental h (houses for rent, Solano County & Glen Cove) about 6 years ago

Wow.  I had no idea this existed.  Good for zillow for having the cajunas to open this up for feedback.  Their estimates are often so far offf it's ridiculous.  At least we can publicly fight it now.  

Posted by Amanda Christiansen, Christiansen Group Realty (Christiansen Group Realty (260)704-0843) about 6 years ago

Its great that they added that feature as their estimates have been annoying agents for a long time...

Posted by Scott Fogleman, New Home Team (New Home Team 804-573-9592) about 6 years ago

Lynn, I don't think this is going to help much. They need to improve the system with more factual information. I don't see allowing comments to have much of an impact. Consumers rely too much on their invalid assessments.

Posted by Michael Setunsky, Your Commercial Real Estate Link to Northern VA about 6 years ago

Thanks, Lynn.

 

Lynn, is Listingbook working for you in your area?  We just got it and I have been evaluating it.  I'd appreciate any feedback you and others have on the product.

Posted by Dee Toohey, Broker, ABR, AHWD, CIPS, FMS, ePro (Innovative Realty Solutions Group) about 6 years ago

Thank you for pointing this feature out. It seems that while Zillow won't or can't change their algorithm they are aware of the value issues and this is their attempt to correct it. Happy Memorial Day!

Posted by Susanna Haynie, Colorado Springs Realtor GRI CNE MCNE ePro MRP (CO-RE Group, LLC -Real estate sales and services) about 6 years ago

Thanks Lynn I think this is long awaited change. I am glad it is available now. 

Posted by Ritu Desai, Virginia Realtor-Fairfax/Loudoun/PW-703-625-4949 (Samson Properties) about 6 years ago

I don't see how Zillow is useful to anyone even if you do understand how it works. Having all that misinformation out there just makes our job more difficult. The only real solution is to quit sharing our listing data with Zillow, Trulia, Etc.

Posted by Wayne Jackson, North Idaho Realtor, Serving Coeur dnullAlene and Hayden Lake (Lakeshore Realty 208-714-4109) about 6 years ago

Lynn: Why should we even have to comment on such garbage? Why is this "Rag Sheet" of a site allowed to do what we as professionals can NOT do: that is to miss-represent the people (and their properties) whom we are committed by law to represent??? This is just another example of how the "Media" can control what we think and how we react to what we read....the average person does not care if the zestimate is right or wrong!! They only care about getting the lowest price for the best property and Zillow is seeing to that, whether the price is accurate or not!!!

 

Posted by Paula Hathaway, REALTOR, LBA, ...Finding Your Place In The sun! (Douglas Elliman Real Estate) about 6 years ago

Hy Lynn, why would we want to help out Zillow in any way? Why give out our price opinions for free in a comment no less? Sorry, I disagree.

Posted by Sandy Acevedo, RE/MAX Masters, Inland Empire Homes for Sale (951-290-8588) about 6 years ago

Lynn, when Zillow first came out I spent a lot of time searching and playing with the site, I am a shiny object kind of guy, and I noticed that you could claim your own home at the time (I have not been to Zillow in quite some time).

So I claimed my home and added the upgrades we had done to our home, new kitchen, new windows etc, it computed our value to be almost 25% higher than any solds in our neighborhood and I could not change it, needless to say the upgrades did not all of the sudden make my home worth 25% more than the rest of the homes, although it would be nice if that were the case.

I will have to re-visit Zillow and play around some more.

Posted by John Marshall - FORE!, Specializing in Golf Course Properties (The K Company Realty) about 6 years ago

Hi Lynn - I look at Zillow as a novelty, not a forum in which professionals should engage in dialogue.  I tell clients that the information is inaccurate at best and if tehy want good information and advice to contact a real estate professional.  I tend not to engage with people or sites that lack credibility.

Thanks for the post.

Posted by Mike McIntosh, FHA VA CVL Home Loans California - 916 780-6400 (Sierra Pacific Mortgage Company, Inc.) about 6 years ago

Lynn, I hear this all the time "Zillow priced my home at..." it's nice to know that you can now comment if you disagree with the price. 

Posted by Adrian Willanger, Profit from my two decades of experience (206 909-7536 AdrianWillanger-broker.com) about 6 years ago

It does create confusion with buyers when they look at Zillow and decide they want to pay an extremely low price for a home n an upscale neighborhood.  If no neighboring homes have sold for many years, it makes the average look much lower.  Somehow, it seems in some areas a home that sold for $50,000 many years ago gets factored into the pricing to tell buyers what a home in that area should sell for.  It can also discourage potential sellers from listing, thinking they can't afford to sell.

Posted by Susan Neal, Fair Oaks CA & Sacramento Area Real Estate Broker (RE/MAX Gold, Fair Oaks) about 6 years ago

That is a great feature so we can try to correct some prices that are wrong.

Posted by Dale Samples, REALTOR -Homes for Sale Charleston, West Virgini (304.741.4705 • www.dalesamples.com ) about 6 years ago

Zillow is inaccurate, at best.

Posted by MaryKay Shumway, Door County Wisconsin's Real Estate Expert (The Kellstrom Ray Agency, Inc. (Est. 1948)) about 6 years ago

I agree with all the others that say why would you help out Zillow. By helping them, you are acting like it's a legitmate service that is in your benefit. IT'S NOT. As a Realtor, you should want Zillow to go away and quit f'n up our business.

I cant for the life of me understand a Realtor supporting a 3rd party like that. Do you want to all end up like travel agents? i.e. out of work.

Posted by Andrew Martin (REMAX Accord) about 6 years ago

Shows Zillow is listening to feedback

Posted by Richard and Jean Murphy, (207) 712-4796 (Harborview Properties) about 6 years ago

If there is a first place for misleading home valuations "Zillow takes the price"... this "gimmick feature" based on inaccurate, incomplete or outright incorrect data generated by a faulty machine based system is simply just misleading and damaging to both buyers and sellers... and if Zillow wants real estate professionals to supply their price opinions they should pay for it...

Posted by Phyllis Lerner call 914.438.7556, William Raveis Legends Realty Group (William Raveis Legends Realty Group LLC) about 6 years ago

Lynn, thank you for writing this. Zillow has been causing nightmares for buyers and sellers in our market at the Jersey Shore.  Their formula doesn't even distingush between waterfront and non waterfront properties.  Pointing this out to clients is a real eye opener.

 

Dee Toohey, I've been using Listingbook for two years and have been able to develop it into invaluable tool.  Once a client signs on to your Listingbook invitation they have tremendous loyalty to you as a agent.  You've made their search for the right home so much easier.  The daily updates and tracking allow you to monitor their progress and instant messaging affords you the opportunity to assist them in a minute's notice. I've just featured an open house I'm doing tomorrow on Listingbook and the invitation was viewed by 246 potential clients. Also the ability to assign a seller his own property gives them daily updates on where they stand in the market. Sellers love it.  It a major point of my listing presentation.

Posted by William Dillon (Cara Realtors) about 6 years ago

As long as appraisers don't look at the zestimate for guidance, there is no reason to spend time on trying to change the zestimate by adding comments. 

Posted by Ute Ferdig, Because Getting It Right Matters! (Ferdig Real Estate Solutions) about 6 years ago

Dear Fellow AR members -

Thanks to all of you for your comments - I hope to respond personally to each of you. In case it gets overwhelming, my brief general reply is that I like to deal with what my Clients read and then ask me to explain.

I can show Clients that Zillow has its own post on its own margin of error. I can show them that Zillow explains the Zestimate and admits the need for corrections. I can show them that Zillow has a video explaining how to add comments.
Zillow is there. I cannot “dismiss” Zillow or any other one of them. Therefore, I like to point out to Clients that these sites themselves know they are often off-base!

Have a happy day -
Lynn

Posted by Lynn B. Friedman, Concierge Service for Our Atlanta Sellers & Buyers (Atlanta Homes ODAT Realty Call/Text 404-939-2727 Buckhead - Midtown - Westside -- and more ...) about 6 years ago

I remember being able to do something like this years ago but as John Marshall (16) posted, I guess it was for your own home.  I also agree that we shouldn't have to go on the site to disagree.  If we or our sellers do it then buyers are just going to think the seller is just trying to pump up the price & buyers don't want to believe how off Zillow is, especially when the price is too low.

Posted by Judy Orr, SW & Near West Chicago suburbs (HomeSmart Realty Group) about 6 years ago

Although their Zestimates are probably still inaccurate, it is nice to know they are willing to accept feedback from the public and agents. Hopefully that will make it more reliable, not worse!

Posted by Kevin O'Rourke - Keller Williams Miami Beach Realtor, CDPE Miami Short Sale Agent 305-520-9436 (Keller Williams Miami Beach Realty) about 6 years ago
That is a good tip to remember. Where is the comments section located?
Posted by Cheryl Ritchie, Southern Maryland 301-980-7566 (RE/MAX Leading Edge www.GoldenResults.com) about 6 years ago

Lynn - This is a good step.  Question - will they make adjustments to Zestimates based upon the comments?

Posted by Christine Donovan, Broker/Attorney 714-319-9751 DRE01267479 - Costa M (Donovan Blatt Realty) about 6 years ago

Lynn, that certainly will increase Zillow's populaity - once again,  and sellers should be happier than ever with this change...

Posted by Praful Thakkar, Andover, MA: Andover Luxury Homes For Sale (LAER Realty Partners) about 6 years ago

It should be rephrased to be 'QUESSTIMATE' in my opinion. Could get the same results by throwing numbered dice!

Just another market ploy rolled out by this company.  They have no value or place in our market for buyers or sellers.

Posted by Lyn Sims, Schaumburg IL Area Real Estate (RE/MAX Suburban) about 6 years ago

Lynn, whenever I list a home here in the Woodbridge Virginia area, many owners will bring up in conversation that they saw what Zillow said the home was worth. Those that don't, I show them what and where home buyers will search statistics and sales online ( this includes Zillow) The information good or bad is online for all to see, we can't ignore it. This is when Realtors must go to work and do what they do best, sell. Having the owner claim the house on Zillow and updating the Zestimate Feature is a start. Then as the local expert write a blog post containing this information "Zillow said the house was valued at.... so what did it really sell for?"  As a Realtor it is our job to help the seller sell for Fair Market Value period. It has been my experience that in some cases Zillow is right on the money in cookie cutter neighborhoods.

Posted by Peggy James, Woodbridge Virginia Area Real Estate Specialist (EXIT Realty Associates) about 6 years ago

Hey all, sorry I'm late to the party.  I think what some folks might be missing is that it isn’t really ‘correcting zillow’ but allowing you (or owners) to have a voice and it's creating a marketing platform for both.

@Christine -  It would be hard to adjust based on ‘non-data’ things, like a view or new cabinets.  But we do adjust to factual updates, like if the listng sq. footage is different than what the county says.  This happens automatically, three times a week.

Posted by Brad Andersohn, ActiveBrad - 707.646.1876 (Director of Education & Industry Outreach at eXp Realty & RE Tech Campus) about 6 years ago

So does this mean that homeowners can try to pump up the Zestimates even higher?

What a great game.  ;)

Posted by Pete Xavier, Outstanding Agent Referrals-Nationwide (Investments to Luxury) over 5 years ago

Participate