Explaining Zillow

Most buyers love Zillow. It offers a user-friendly experience that arms them with a wealth of property information.

While Zillow seems like an informative website, it has major shortcomings:

  1. Zestimates – In the fine print, Zillow concedes that Zestimates are “a starting point to determine a home’s value” and that a real estate agent’s CMA is an important next step.
  2. Missing Data – Listed properties, data fields and photos may not appear in Zillow. Further, it’s not as current as the MLS – a significant downside in hot markets.
  3. Advertising – Each listing includes well over a dozen paid ads (for agents, lenders, insurance, etc.). Remind buyers that Zillow is first and foremost an advertising platform. The MLS is ad-free.

Bottom line:  Do you want to be informed or sold?

 

 

 

 

 

 

Source: “Today’s Buyer’s Rep” Newsletter ~ Fall 2018