Stop The Presses!
How about some bookmark love? ::
US News and Wold Report Called and Interviewed me about my feelings on Zillow:
I relayed to the journalist that I was previously very critical of Zillow, but that I was starting to change my tune. Ever since the conversation of Zillow's Zestimates becoming more accurate and relevant in the discussion of what a home should sell for; in the ever hard to peg market of Laguna Beach. It's great for me to win back some karma points for Zillow.
I still maintain the view that Zillow is a first step for potential home sellers and buyers. That Zillow's model has an inherent limitation regarding pricing of homes. I believe that the genre filled by Zillow is the AVM. Automated Valuation Models such as Zillow, in my view represent an entry point to the question, "What's My Home Worth?"
That entry point, being automated in all fairness is less accurate on the continuum of the real question on a home value.
Consider a dartboard, with the bullseye being the price tfor which the home actually sells. Ultimately a home seller wants to know what that bullseye price is going to end up being. Let's say that Zillow, and other AVMs sometimes make the mark of hitting the dartboard itself. Pegging a dart into the board is great, because at least the dart is moving in the right direction.
Imagine that actual Comps, or a CMA, from the local MLS without the benefit of a Real Estate Agent's expertise represents a huge leap forward, because these numbers are no longer cloaked behind the algorithm upon which Zillow or other AVMs rely. Some progress can be yielded on the part of a consumer alone, but a Real Estate Agent's assistance in interpreting the numbers within the CMA is extremely valuable. For example, there is a better chance that the Real Estate Agent involved will have some background information on why a home in the neighborhood sold for a lower price. Full time agents are "In The Know" because they do real estate 7 days a week, most of the time that can be the difference between a solid piece of information and a wild guess.
As the Sellsius guys point out all the way from New York; our own OC Register has even helped confuse consumers about Zillow.
Without a Real Estate Agent, home price values are still just guesswork.
US News and Wold Report Called and Interviewed me about my feelings on Zillow:
I relayed to the journalist that I was previously very critical of Zillow, but that I was starting to change my tune. Ever since the conversation of Zillow's Zestimates becoming more accurate and relevant in the discussion of what a home should sell for; in the ever hard to peg market of Laguna Beach. It's great for me to win back some karma points for Zillow.
I still maintain the view that Zillow is a first step for potential home sellers and buyers. That Zillow's model has an inherent limitation regarding pricing of homes. I believe that the genre filled by Zillow is the AVM. Automated Valuation Models such as Zillow, in my view represent an entry point to the question, "What's My Home Worth?"
That entry point, being automated in all fairness is less accurate on the continuum of the real question on a home value.
Consider a dartboard, with the bullseye being the price tfor which the home actually sells. Ultimately a home seller wants to know what that bullseye price is going to end up being. Let's say that Zillow, and other AVMs sometimes make the mark of hitting the dartboard itself. Pegging a dart into the board is great, because at least the dart is moving in the right direction.
Imagine that actual Comps, or a CMA, from the local MLS without the benefit of a Real Estate Agent's expertise represents a huge leap forward, because these numbers are no longer cloaked behind the algorithm upon which Zillow or other AVMs rely. Some progress can be yielded on the part of a consumer alone, but a Real Estate Agent's assistance in interpreting the numbers within the CMA is extremely valuable. For example, there is a better chance that the Real Estate Agent involved will have some background information on why a home in the neighborhood sold for a lower price. Full time agents are "In The Know" because they do real estate 7 days a week, most of the time that can be the difference between a solid piece of information and a wild guess.
As the Sellsius guys point out all the way from New York; our own OC Register has even helped confuse consumers about Zillow.
Without a Real Estate Agent, home price values are still just guesswork.
