Why Work With a REALTOR®- Real Estate Agent vs. Zillow
Handsome Properties April 7, 2023
Handsome Properties April 7, 2023
The benefit of using a real estate agent rather than marketplace companies like Zillow boils down to three things: time, money, and access.
If you’ve been on Zillow’s website before, you know firsthand how many pages are needed to comb through. Zillow has 136 million properties listed in their database, and their limited, demographically based filters are not able to adequately narrow down your search.
The effect of this will inevitably leave you searching on your computer for hours. On the contrary, a real estate agent eliminates the wasted time spent searching. An agent caters to more than just basic criteria like price and location. They will have a deeper and more personal understanding of what you’re looking for, and this will guarantee a quicker process.
In addition to the seamless process of using a real estate agent, Zillow notoriously reports incorrect and out-of-date information. This inaccuracy can be seen through their “Zestimate.” Urging buyers and sellers to not use this inaccurate price prediction algorithm is a common obstacle real estate agents face. Zillow launched its Zestimate price for homes in 2006.
Many people saw this as an influential moment in the industry. However, this algorithm has since proven to not be trustworthy and leads to over and under-pricing of homes. People were left shocked when the CEO of Zillow, Spencer Rascoff, overpaid $1 million above the $20 million Zestimate.
The faulty Zestimate caused many REALTOR® boards to cut ties with Zillow to deprive them of data to base information on to list on their website. Ultimately, using a real estate agent will ensure an accurate price through their compilation of resources
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