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Can Zillow give you an accurate home evaluation? Many people use this site to get an estimate on their homes. However, Zillow is usually 5% to 15% off for property evaluations. Zillow cannot account for many factors that assign value to a property.
- Zillow does not account for relative location. If you have a home a block away from a more valuable neighborhood, Zillow will not accurately identify this factor. For example, take a West Miami home a block away from 57th avenue in Coral Gables. Zillow will pull information from Coral Gables instead of West Miami to price your home.
- Zillow does not account for boundaries nor natural or artificial barriers. This includes canals and highways. Miami Springs and Hialeah are separated by a canal, for instance. Additionally, Zillow does not account for quality and age of construction, finishes, or painting.
- Zillow does not account for layout or design. Some homes have a better layout or design compared to others. Buyers, for instance, may be looking for modernity in homes.
- Zillow does not account for property types. Even when you have two different types of property, such as a townhouse versus a single family home, Zillow often assumes they’re the same because of property size. Zillow could price them the same, despite the differences.
- Zillow does not account for buyer traffic, taste and trends. Zillow doesn’t know what buyers are looking for. The site doesn’t examine trends.
To get an accurate home estimate, hire a Realtor for a physical evaluation. This Realtor should know the area and know how to price. This process is called the broker’s opinion of value. That's why we’re here! If you’re looking to buy or sell, give us a call or email! We would love to be your area real estate resource!
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