The Ironic Truth About Zillow Zestimates

It’s true, Zillow’s CEO Spencer Rascoff, sold his home for 24% less than what it said on his website.

Zillow’s “Zestimates” can be tweaked if you know how to add improvements to Zillow’s valuation methodology. You need to be the owner, or owner’s agent to do this, or an unscrupulous hacker. Actually, you don’t even need to be a hacker, anyone can do it. Zillow does offer valuable information they gather from Public Records. But, you’re not going to get a bank to loan you money based on a Zillow “Zestimate.”

Where homes are very similar (condos/townhomes) sometimes Zillow’s “Zestimates” can be helpful. But, if you live in an area where the home styles vary, for real estate agents (your best source for what the true value of your property is) Zillow’s “Zestimates” can drive you crazy. Many home sellers and buyers  give credence to Zillow’s “Zestimates.”  Unfortunately the degree of accuracy of Zillow’s “Zestimates” can vary dramatically from neighborhood to neighborhood. To real estate professionals is what makes this video so hilarious, and wonderfully ironic…enjoy!