What's Wrong with Zillow?

Dated: September 26 2023

Views: 292

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Misinformation is what's wrong with Zillow. It is unfortunate that most consumers do not understand the shortcoming of information found on Zillow. Let's examine just two:

Estimates. I have seen some Zestimates that are within the realm of reality, but most are wildly inaccurate. The algorithms that Zillow uses to determine valuations are unknown, but it has always been said that bad input yields bad output. In Texas and 5 other states Zillow operates without the most essential tool in its Zestimate. The missing ingredient, the sold prices! Texas does not disclose sold data, it is not public information and so Zillow cannot possibly forecast the future sales price of your home without knowing comparable sold prices.

Available Inventory. Zillow does not update the sold and pending status of listing homes in a timely manner. On a regular basis we receive calls from buyers that desire to see a home they found on Zillow. All too often the house is either under contract or has already sold. This information is available from the MLS on an hourly so the lag time between when the information is available and when Zillow chooses to update their site is inexplicable.

If you would like to search on sites with the most up to date property status information please visit https://www.rmlandmark.com/

For accurate pricing information on your home please call one of our offices and one of our knowledgeable agents will be happy to help you.

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