Zillow and Zilliness

Here's another question for you....

Why do you believe Zillow real estate market values
are correct?

Is it because Zillow exists and the site is pretty slick plus
you can look at the property values of a neighborhood on
a plat?  A "Zestimate" is a catchy phrase.

Personally, I call it Internet marketing based on a platform
that's not, all that accurate - but a lot of fun to look at.
like this...

Do you question where Zillow gets their information since
they are Internet marketers and really don't do real estate as
a business?

Here are a few facts about Zillow to keep in mind as you look-

• information they get is from public data - (TX is a non disclosure state)
• anyone can enter whatever they want on the site to change value
• values represented are suspect and should be verified
• true value is market value not value assessed by tax authorities
• who actually checks the accuracy of the data
• no one at Zillow can or will answer your questions about value
• Zillow does not have all the data or properties
  

I really don't dislike Zillow, heck we advertise our listings on it
and the technology is sweet, but keep in mind, they are not as correct
as you might think.  You should use use it as a new cool preliminary search
tool as it's intended. Here's a link to the accuracy of a zestimate.

All they really want you to do is click on an ad or banner for revenue
anyway.  It's an business/advertising model with a real estate face.

They want to make it the best real estate site for the consumer
to use.  I'm for that too, but with the correct data, and at this point
in time that comes from the 900 MLS's all over the country.  So here's to
better technology in the future for all of us to use.

But to really think that it's got the true values of property is Zilly.
You can also have fun with the name.

(this post was inspired by Zillow Talk with 4 clients this week and
a spreadsheet that included a Zillow estimate column to compare
properties, bet Zillow will love that one)