Who would take Zillow seriously

[dontaskwhy]

Zestimates are exactly what their name implies (Zillow estimates), it is not an appraisal. Of course some are closer than others. The saying YMMV (Your Mileage May Vary) comes to mind.

[HB2HSV]

Originally Posted by dontaskwhy

Don't be so quick to judge. I was a Realtor for 5 years in Florida and before that I bought and sold my own home via For Sale by Owner. I do have a little perspective on the matter.

You don't sound like it.

As a Realtor you do realize if a seller lists the property above the Zestimate, the potential buyers see it as higher than it's worth then will "low ball" the offer. Of course, this all depends on market conditions, if it's like today; a buyer would not care and will offer above asking. But in a "normal market", you'd expect more offer lower than asking, or no offers at all.

[leastprime]

Our rental is now up for sale. We rely on the RE agent to provide a pricing that s reasonable for a sale. It's what we pay her to do. Zillow is just one of the displays.

[dontaskwhy]

Originally Posted by HB2HSV

You don't sound like it.

As a Realtor you do realize if a seller lists the property above the Zestimate, the potential buyers see it as higher than it's worth then will "low ball" the offer. Of course, this all depends on market conditions, if it's like today; a buyer would not care and will offer above asking. But in a "normal market", you'd expect more offer lower than asking, or no offers at all.

How many years of being a Realtor do you have under your belt? I did admit that I was a Realtor. I never claimed to be a current Realtor. I offered an opinion based on my experience. You can disagree and I don't care. Zestimates are not currently considered an appraisal and were never meant to be used as such.

If a potential buyer chooses to make their offer based on one, they do it at their own peril. A seller is not obligated to accept an offer based on Zestimate, EVER !!! The seller can merely say next and wait for a different offer if they choose to.

In many markets, this is a seller's market with more buyers than available homes. Home prices are higher as the amount of new houses has been dramatically been reduced due to the increased cost of building materials and labor shortages during the Covid crisis.