- 😟Can you Trust a Zillow Zestimate?
- ❓What is News Corp? How does News Corp Affect Zillow's Home Values?
- 😈How did Zillow and Trulia React to News Corp's Merciless Scheme?
- ⚖️How Does One Truly Know What Their Home is Worth?
- 🤔Zillow, Trulia, & Realtor.com at Play in Sioux Falls, SD
- 👁️Zestimates are NOT Accurate: Read What Other Agents Have to Say
- 💡ACTUAL Proof of Faulty Zillow Home Value Estimator
- 🤷Who Should You Trust in Reference to your Home's Value?
- 💰Final Thoughts on Zillow's Home Value Estimator...
To buy or sell a home remains a grand decision in someone’s life. A home purchase remains, most likely, the largest purchase a person chooses to make. Because of this significant purchase, one may think how can we make this easier? One factor that eases the, seemingly, stressful process is a trusted realtor. A realtor exemplifies the buyer/seller’s best interest throughout the entire timeline. This post serves to paint a truthful picture about the various consumer tools, like Zillow, Trulia, Realtor.com. These tools deceive buyers and sellers in a multitude of ways. One specific deception involves Zillow’s home value estimator, which will be heavily highlighted.
😟Can you Trust a Zillow Zestimate?
Zillow remains the most popular and visited real estate website in the United States. With 36 million monthly visits, Zillow serves a variety of visitors. High functionality and clean presentation explain why many visitors favor Zillow. Many times, curious users search phrases like, “What is my home worth? Or how much is my house worth?” Weirdly enough, Zillow confidently promises a value. However, many users become disappointed when meeting with a realtor that clashes with Zillow’s Zestimate. Of course, anticipate potential setbacks when utilizing Zillow’s home value estimator. Many of these consumer tools do not attain access to current market trends. Yet, the site bases their home value estimates on national market trends, not local ones. In addition, Zillow Zestimates do not represent the unique characteristics of neighborhoods.
Although Zillow may be your first hit on Google, do you ever question the information present on their website? What if I were to tell you that Zillow deceives users in how they present home values? What if I told you that presence of local listings in your area could be non-existent on websites like Zillow or Trulia? Again, what if I dare to conclude that Zillow’s Zestimates, or home value estimators conjure faulty information?
This may seem like many questions to throw at curious web browsers. However, when someone searches home values, they could end up disappointed when a local agent attests their data are faulty.
❓What is News Corp? How does News Corp Affect Zillow’s Home Values?
News Corp embodies a mass media company that owns Realtor.com. Why is News Corp important? In 2014, News Corp. purchased another company, ListHub. ListHub serves as a tool to pull local real estate listings from their multiple listing service (MLS). Additionally, ListHub advances these listings to real estate websites. MLS represents a multiple listing service and serves as a mechanism for local realtors to upload new listings. Furthremore, this critical tool allows these listings to appear active for sale. Thus, ListHub pulls this data to upload to their assigned websites.
Zillow/Trulia utilized the data from ListHub. However, when News Corp purchased ListHub, they cut Zillow and Trulia’s access to the site’s listings. Because of this, Zillow and Trulia could not update their websites. Uniquely, these sites could not display new, active listings for many local areas. Moreover, this serves as an explanation for why their websites do not provide consumers with the most accurate information regarding home values.
Although unfair, this proved to be a smart business move for News Corp. Because of the crushing loss of data, Zillow filed a restraining order against ListHub when news spread that the contract with Trulia would be cut early. Of course, this rash defense tactic showcases Zillow’s desperation for reliable data..
Maybe Incorporate Widget or something about Zillow/Trulia HERE
😈How did Zillow and Trulia React to News Corp’s Merciless Scheme?
What would you do if a company cut you off from valuable resources? Well, Zillow and Trulia felt News Corp played dirty. The consumer sites employed a strategy that involved stealing data from Realtor.com. In order words, they played just as mercilessly. Unfairly, Zillow’s tactic affects local realtors because the site is stealing THEIR data, provided from THEIR local MLS. Generally speaking, the drama between these companies reveal that none of the big-named consumer sites play fair. Welcome to corporate America, where money matters more than accurate and honest information.
⚖️How Does One Truly Know What Their Home is Worth?
If your first thought was to check Zillow or Trulia, I hate to admit that is incorrect. Although their platforms present attractiveness to potential home buyers/sellers, their information, or lack thereof in some cases, cannot be trusted. For example, if you are searching for homes in Sioux Falls, RLrealestategroup.com presents potential buyers/sellers with accurate information. Additionally, Regan’s website updates every 15 minutes with new listings based on Sioux Falls’ MLS. Be sure to invest time into local real estate agents’ websites, as their information reflects the local market trends. If you utilize Zillow or Trulia, do not be surprised if there are missing or inactive listings present.
🔑Research is KEY
Research presents a key component throughout the process of buying or selling a home. If ease of user functionality interests you, then Zillow or Trulia could work for you. Nevertheless, Zillow’s home value estimator remains a fluke. Check with your local real estate agent regarding an accurate and honest appraisal of your home’s worth. Quick and cheap searches demonstrate a sure-fire way to start on the wrong foot for home research. On another note, if accuracy, efficiency, and timely updates appeal to your research needs, local realtor websites, like RLrealestategroup.com, outshine websites like Zillow/Trulia. Regardless, some local websites may not be as accurate either. Notably, please use discretion when deciding between the various options at your disposal. Another hint before clicking out and using Zillow: A Zestimate proves to be unfavorable in MANY, if not all, situations. See the inaccuracies of a Zillow Zestimate BELOW.
For instance, many local realtor websites include various, local entertainment options. With this, local agents’ sites provide options for dining, entertainment, parks, various events happening, and general information about the city of interest. For this reason, fun informational posts allow local realtor’s websites to connect on a personal level with their clients and strangers. This is untrue compared to others websites like Zillow or Trulia. Zillow and Trulia care about high traffic and impressive numbers. Find unique dining and entertainment options for the Sioux Falls area, click here.
🤔Zillow, Trulia, & Realtor.com at Play in Sioux Falls, SD
If you remain skeptical about the deception of these mega-marketing websites, let me help you think about their motives in an alternative viewpoint.
Purchasing a home in Sioux Falls, SD is much different than purchasing a home in Philadelphia, Pennsylvania.
Ask yourself this:
- How do these giant marketing companies possess accurate information about Philadelphia’s or Sioux Falls’ market?
- Conversely, does Zillow/Trulia account for unique neighborhoods?
- What does Zillow have to gain by your visit to their site?
- Most importantly, why does Zillow use national markets trends to assess my home’s value?
- Real estate markets do not emulate a one-size fits all kind of market.
- Rather, various market trends throughout diverse areas of the country dictate the market. Zillow and Trulia do not attain access to the ever-changing market trends in your local cities or the individuality certain neighborhoods possess. The home value estimator tools on the giant marketing websites, specifically Zillow, continue to be inaccurate.
- Be SKEPTICAL of a number that sounds to good to be true.
👁️Zestimates are NOT Accurate: Read What Other Agents Have to Say
If you need some other sources behind the inaccuracies of Zillow’s home value estimator, see the links below from various real estate agents:
💡ACTUAL Proof of Faulty Zillow Home Value Estimator
- Here is EVIDENCE of an invalid Zestimate. Zillow’s suggested home value is much lower than what the home actually sold for. DO NOT trust Zillow for an accurate representation of your home’s value. $31,000 is a HUGE difference. This revelation demonstrates Zillow’s disregard for LOCAL neighborhoods and local market trends.
- Need another example? Here is one for a brand-new construction property that sold for over $340,000. Zillow’s Zestimate for this property falls lower than $150,000 for the property’s sale price from December, 2017. Zillow has no access to knowledge about this neighborhood in Sioux Falls. This is one of the most up and coming neighborhoods Sioux Falls offers. Zillow’s Zestimate is EMBARRASSING!
- Here’s a home currently for sale. Again, this home embodies a new construction property. This Zestimate, again, showcases the inaccuracy of Zillow’s home value estimator. WHAT A DIFFERENCE! These revelations should be upsetting for buyers and sellers.
If you are looking to attain the most money for your house, talk to your local real estate agent. Click here to get in contact Regan, at RL Real Estate Group, if you need a Sioux Falls agent. Trust me, your agent desires to help you throughout the entire home buying/selling process. Your home’s value remains their top priority. Other priorities include: your comfort, your trust, and less stress. Moreover, Trulia does NOT care about your home’s value. Even further, Zillow cannot be trusted and you, need to implement local real estate sites into your research.
🤷Who Should You Trust in Reference to your Home’s Value?
What does your gut tell you after reading the truth about Zillow? If you possess any doubts, contact a local realtor. Not only do realtors maintain your best interests, they look out for you personally. Big name companies do not prize your business, they desire high traffic numbers. First, contact an agent. Second, allow them to tour your home and present their best appraisal of your home’s value. If you ask yourself, “What is my home’s worth,” contact an agent or research LOCAL websites first. Overall, support local business and local families.
💰Final Thoughts on Zillow’s Home Value Estimator…
In 2018, countless tools for home buyers/sellers remain available through various sources. In essence, the big name consumer websites should be avoided. The process of purchasing a home has never been easier. Utilize local tools, especially a trusted real estate agent. Many local sites do not attain a cost for access. Internet access is the only requirement. If you utilize Zillow, know the information presents inaccuracies. More importantly, data received here should not be trusted. Missing information, a faulty home value estimator, and inaccurate information encompass Zillow’s website. Trust local business. Trust local agents and utiilize their websites.
Regan Laughlin, Broker/Owner
3626 S Southeastern Ave
Sioux Falls, SD 57103