Can You Trust Zillow as a Data Source?

There are many great Austin area homes for sale. Click here to perform a full home search, or if you’re thinking of selling your home, click here for a FREE Home Price Evaluation so you know what buyers will pay for your home in today’s market. You may also call me at (512) 616-4100 for a FREE home buying or selling consultation to answer any of your real estate questions.

Can You Trust Zillow as a Data Source?

Think about this: Zillow has no real estate knowledge – whatsoever. What Zillow has done is tap into the appraisal districts and tax records around the country and they have written an algorithm based on the information they receive from those aforementioned sources. Your tax dollars are paying for those appraisals!

Not only does Zillow tap into your tax dollars, they also utilize the MLS (Multiple Listing Services) – which is compiled by realtors. Essentially the realtors are paying for the pictures on the MLS and you, the taxpayers, are paying for the appraisals. This proves Zillow’s lack of knowledge in real estate.

It is silly for anyone to put any trust in Zillow or a Zestimate, because in most cases the estimates are wrong. When they are accurate, which is rare, they are simply lucky because of the accuracy of the tax record. The reality is that the market changes on a week to week basis. Right now we are going through a massive market shift because our inventory is beginning to rise. When inventory rises, it affects price.

If you have any questions about the real value of your home, please feel free to give me a call or send me an email. Thanks and have a great day!

Leave a Reply

You must be logged in to post a comment.