Both Zillow and realtors can provide valuable information for buyers and sellers in the real estate market. However, the reliability and accuracy of the information provided by each may vary.
Zillow is a popular website that provides real estate information, including home value estimates (Zestimates) and property listings. Zillow's data is crowdsourced, meaning it relies on users to provide information, which can lead to inaccuracies. Zillow's Zestimate algorithm may not take into account certain factors that would affect a home's value such as the condition of the property, updates and renovation, location, and market conditions. Zillow Zestimate is considered a starting point to get a rough idea of a home's value, but it's not a substitute for a professional appraisal.
Realtors, on the other hand, are licensed professionals who have access to accurate and up-to-date information about the real estate market. They can provide buyers and sellers with information about local market conditions, comparable sales, and the true value of a property. They can also provide valuable advice and guidance throughout the buying or selling process.
At Seaport Real Estate Services, we use an in-house algorithm we call Market Pulse to evaluate home sales prices based on years and years of data. Our algorithm takes that data and formulates estimates based on comps (previous homes sold in that area), and other factors to help us determine a realistic price point to list a property at.
In summary, Zillow can be a useful tool for getting a rough idea of a home's value and researching properties. However, for the most accurate and up-to-date information, it's best to work with a local realtor. They have access to accurate and reliable data about the real estate market and can provide valuable guidance throughout the buying or selling process.
Reach out to our agents to see how we can help price your home.Posted by Tim Bray on