So What is wrong with Zillow?
Zillow is wildly popular among home buyers and home sellers. It definitely has some good information to impart. So what is wrong with Zillow?
- Zillow is in the business of making money. Yup thats it. They are wildy popular because they have huge advertising budgets. You find them because they spend millions of dollars to get found! They make their money selling your clicks and information to various real estate related folks like agents and mortgage brokers. They are not altruistic in providing you with information. They want your hits to their website and your information to make money.
- Zillow’s information is misleading or inaccurate. Many of the homes they “advertise” are not readily available or available at all. Again, they just want you to go to their site. Their popular Zestimate is terribly inaccurate and unfortunately creates a false sense of value for home buyers and home sellers. The link brings you to an article where I did a cross-section of homes that sold in Tewksbury MA. The Zestimate’s were all over the place compared to the actual selling price of the home.
- Zillow’s information is not up to date. In today’s fast-paced real estate market, sometimes it takes days for a listing to hit Zillow. In some cases, the house is already sold before you find out about it. To avoid this sign up to get daily alerts from your local real estate agent. A local agent’s home search will pull directly from the Massachusetts Multiple Listing Service regularly throughout the day.
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What is Wrong with Zillow? has been provided by Kevin Vitali of EXIT Group One Real Estate. You can contact me at 978-360-0422 or email me at kevin@kevinvitali.com.
