Embrace the Zestimate

Instead of rejecting Zillow, use it as a tool. Here’s how you can use their own information against them.

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As most of you know, Zillow is by far the largest consumer facing web portal out there for real estate. Many of your clients use it as they are contemplating selling their homes. Instead of fully rejecting Zillow and their Zestimate, I challenge you to embrace the concept and allow Zillow to be your friend rather than your foe.

On Zillow’s home page, you can find what they call their “data accuracy table.” It gives you several points that they use to assess the valuation. This table is your best friend when dealing with sellers who want to take Zillow's word as law.

Here in Utah, one key thing to note is that we are a non-disclosure state. In other states, Zillow looks at the deed transfer information to get home sale prices. In Utah, they don’t have access to that information. This means their accuracy will be off significantly, adding more value to your listing presentation.

Utah is a non-disclosure state.

Before you go on a listing presentation, check out the Zestimate for that particular property. Be prepared for the seller to bring that value up, and be prepared to rebut it with facts from the data accuracy table. Show them that Zillow doesn’t take upgrades to their home into account nor does it differentiate between properties with different locations and amenities. Zillow’s algorithm treats them all the same.

All you need to do to embrace Zillow is understand what it does and does not do when it comes to determining a home's value. If you have any questions for me in the meantime, don’t hesitate to give me a call or send me an email. We look forward to hearing from you.