Disagree with Zestimate using Zillow Comment Feature

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Disagree with Zestimate using Zillow Comment Feature

Disagree with Zestimate using Comment Feature

Zillow posted a new instructional video so one may Disagree with Zestimate using Comment Feature. Often real estate professionals disagree with the amounts in a Zestimate. Often homeowners disagree as well.

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

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

Have a happy day -
Lynn


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Rainer
107,325
Mike McIntosh
Sierra Pacific Mortgage Company, Inc. - Granite Bay, CA
FHA VA CVL Home Loans California - 916 780-6400

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.

May 26, 2012 08:05 AM #17
Rainmaker
972,300
Adrian Willanger
206 909-7536 TheHomeFunnel.com - Seattle, WA
Profit from my two decades of experience

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. 

May 26, 2012 08:08 AM #18
Rainmaker
582,897
Susan Neal
RE/MAX Gold, Fair Oaks - Fair Oaks, CA
Fair Oaks CA & Sacramento Area Real Estate Broker

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.

May 26, 2012 08:16 AM #19
Rainmaker
171,049
Dale Samples
304.741.4705 • www.dalesamples.com - Charleston, WV
REALTOR -Homes for Sale Charleston, West Virgini

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

May 26, 2012 10:55 AM #20
Rainmaker
362,224
MaryKay Shumway
Coldwell Banker The Real Estate Group Door County - Sister Bay, WI
Door County WI Property Consultant

Zillow is inaccurate, at best.

May 26, 2012 11:03 AM #21
Rainer
129,436
Andrew Martin
Keller Williams - Danville - San Ramon, CA

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.

May 26, 2012 11:27 AM #22
Rainmaker
148,520
Richard and Jean Murphy
Harborview Properties - Portland, ME
(207) 712-4796

Shows Zillow is listening to feedback

May 26, 2012 12:32 PM #23
Rainmaker
427,429
Phyllis Lerner
William Raveis Legends Realty Group LLC - Tarrytown, NY
William Raveis Legends Realty Group

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...

May 26, 2012 01:12 PM #24
Rainer
9,282
William Dillon
Cara Realtors - Bay Head, NJ

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.

May 26, 2012 01:20 PM #25
Rainer
133,622
Ute Ferdig
Ferdig Real Estate Solutions - Auburn, CA
Attorney Short Sale Negotiator

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. 

May 26, 2012 02:14 PM #26
Ambassador
521,190
Lynn B. Friedman
- - - Concierge Real Estate Services for YOU - - - Providing SERVICE for Sellers & Buyers is our BUSINESS - Atlanta, GA
REALTOR ATL BuckheadMidtownWestside 404.939.2727

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

May 26, 2012 02:29 PM #27
Rainmaker
212,362
Judy Orr
Classic Realty Group - Orland Park, IL
SW & Near West Chicago suburbs

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.

May 26, 2012 03:42 PM #28
Rainer
148,382
Kevin O'Rourke - Keller Williams Miami Beach Realtor
Keller Williams Miami Beach Realty - Miami Beach, FL
CDPE Miami Short Sale Agent 305-520-9436

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!

May 26, 2012 05:54 PM #29
Rainmaker
1,167,599
Cheryl Ritchie
RE/MAX Leading Edge www.GoldenResults.com - Huntingtown, MD
Southern Maryland 301-980-7566
That is a good tip to remember. Where is the comments section located?
May 26, 2012 10:58 PM #30
Ambassador
1,563,910
Christine Donovan
Donovan Blatt Realty - Costa Mesa, CA
Broker/Attorney 800-610-7253 DRE01267479 - Costa M

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

May 26, 2012 11:37 PM #31
Ambassador
1,372,773
Praful Thakkar
Keller Williams Realty - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

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

May 26, 2012 11:44 PM #32
Rainmaker
818,391
Lyn Sims
RE/MAX Suburban - Schaumburg IL Real Estate - Northwest Suburbs of Chicago - Schaumburg, IL
Schaumburg Homes

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.

May 27, 2012 08:41 AM #33
Rainmaker
403,659
Peggy James
Twins Selling Real Estate Team - Lake Ridge, VA
Lake Ridge Virginia Real Estate Specialist

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.

May 29, 2012 04:44 AM #34
Ambassador
713,386
Brad Andersohn
Zillow - Nat'l Outreach Mgr & Dir. of Zillow Academy - Fairfield, CA
ActiveBrad 707.646.1876

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.

Jun 01, 2012 07:16 PM #35
Rainmaker
393,071
Pete X-Investment to Luxury, Huntington Beach, CA -GRI-MCNE 714.459.2017 OCLister.com
X Group Real Estate Advocates - Huntington Beach, CA
Outstanding Agent Referrals-Nationwide

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

What a great game.  ;)

Dec 23, 2012 11:47 PM #36
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Ambassador
521,190

Lynn B. Friedman

REALTOR ATL BuckheadMidtownWestside 404.939.2727
Selling? Buying? Contact us now and LET'S TEAM UP for success!
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