William's Blog...with a smile!

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Sellers, is your agent using reliable information?

Sellers, there is a lot of information out there on home values.

Sellers, there is a lot of mis-information out there about values.

The question I want to know is why you think that non-professional sites know how much your home is worth.

 

My client to day just turned down an offer that is 5-7% over market value.  

Why?  Because zillow said it was worth 20% more than the offer we got. 

Because a non-professional site that uses outdated information and guesswork says it is worth $XXX dollars they believe them.

 

This company has not even seen your home.  How do you expect them to know how much your home or any home is worth without first looking at it.

 

Use a Real Estate agent that uses Professional sites like the Multiple Listing Service and Realtor.com.

These are the true Professional sites and have the updated information and don't use guesswork to tell you how much your home is worth.

 

Is it $250,000 or $350,000.  Only the professional knows for sure!

 

 

 

 

Comment balloon 12 commentsWilliam Feela • December 27 2016 01:32AM

Comments

I liken those sites to going on the Internet and playing doctor to diagnosing my symptoms - the sites are a staring point but only a true professional is a necessity...!!

Posted by Maria Sapio, Real Estate Agent- Carlisle, PA. Mariasapio.com (Berkshire Hathaway Homesale Realty) 4 months ago

Great points... 

Posted by Lisa Hernandez, Realtor serving Kendall, South Miami & Pinecrest (Opes Real Estate Group) 4 months ago

Hi William

This certinaly raises a serious question about how important buyers, and sellers, feel these automated evaluations are (let's use Zillow as one example). It's scary that they would rely on information that we know is wrong most of the time! No buyer or seller should make any buying or selling decision based on something the computer is telling them.

Jeff

Posted by Jeff Dowler, The Southern California Relocation Dude - Carlsbad (Solutions Real Estate ) 4 months ago

Good morning William. We still run into that from time to time around here.  Sigh

Posted by James Dray, Exceptional Agents, Outstanding Results (Fathom Realty AR LLC) 4 months ago

Oh yes, the Zillow brain! I went through this with a client a couple of years ago. Had a home that Z said was worth $5K more than virtually new comps from sales of the exact same homes. Even with feedback from showing agents to lower the price by $5K, my seller wouldn't listen. Finally, sold the home after six months at exactly what I had originally told him he would get... but meantime he had six months of carrying costs since the house was vacant.

Posted by Nina Hollander, Your Charlotte/Waxhaw/Fort Mill Area Realtor (RE/MAX Executive | Charlotte, NC) 4 months ago

William Feela, Zillow can't live with it, can't live without it.  I appreiate your post very much and will use your salient points with the many buyers and sellers who bring up zestimates!

Posted by Amy Kramer, Realtor serving Austin and surrounding communities (Coldwell Banker United Realtors, subsidiary of NRT LLC) 4 months ago

Good morning again William. What fools. People are pretty stupid when they get greedy.

Posted by Sheila Anderson, The Real Estate Whisperer Who Listens 732-715-1133 (Referral Group Incorporated) 4 months ago

Because it is on the internet it is true.  Just like your neighbor and your uncle

Posted by Vern Eaton, Realtor 651-674-7449 4 months ago

I like to have the Z and T talk right up front with my seller and give them the real info and trends so this does not happen. Even though i have the talk, some still balk when Z says they are 20% higher. This doesnt make it easier for sure William Feela 

Posted by Scott Godzyk, One of Manchester NH's Leading Agents (Godzyk Real Estate Services) 4 months ago

The local agent is the expert in the market and when you have the discussion with the seller, most understand that.

Posted by Debbie Reynolds, Your Dedicated Clarksville TN Real Estate Agent (Berkshire Hathaway HomeServices PenFed Realty, Your Clarksville Real Estate Professional) 4 months ago

Well, they can wait until the market improves enough that they will get this value and enjoy all that time in a home they no longer want to live in and postpone the rest of their lives indefinitely.

Posted by Gabe Sanders, Stuart Florida Real Estate (Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales) 4 months ago

Trusting what the internet has to say is like playing russian roulette with a fully loaded gun!

Posted by Vern Eaton, Realtor 651-674-7449 4 months ago

Participate