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December 08, 2006


Jonathan Dalton

What don't we blog about out here in Arizona?

You're right, Christine ... it didn't take long for agents out here to start adding some of their listings to Zillow. Is there a risk? Perhaps if the estimate on Zillow is below the asking price. But these are being added on the theory that any exposure helps.

On some of my listings I'm taking Ardell's advice and not adding until I've spoken to the seller ... it's going to be hard to try and explain why Zillow's estimate doesn't really represent market value in the minds of some buyers, and the questions will be inevitable if the values are off.

For my active single-family listings, only one of Zillow's estimates is severely off. But we're also in a market where very few upgrades result in higher sales prices and market averages tend to dominate.


I do agree that all exposure helps. I am 1000% on board with that theory, and I am not saying that I will never not post a listing on Zillow, I will just be very selective and very careful, especially in todays market when buyers constantly tell me that it is a buyers market and then low ball offers. How do I explain to the "buyers" that the Zestimate is the price that is off - not mine? As for a for sale by owner - I would severly warn off the Zillow posting for right now, For the simple fact that a buyer who is looking for a FSBO is already deducting a 4-6% real estate commission off of their offer - and now if a fsbo has a home on the site like the seller I mentioned - the buyers will deduct the RE fee, AND go in LOWER than the Zestimate price - so its a huge difference and I feel that the seller on this home - created and jumped into a bad situation. He created it and now he wont be able to change it. So, exposure is good - but in theory - make sure that you are not getting bad exposure that you can not change!


The Zillow zestimates for some inner city properties are more than inaccurate. As an example the property at 2653 S. Hoover St. in the 90007 zip code north of USC is zillowed at $903,604 - thoroughly rehabbed some time back - probably close to 2 million would be more accurate. House across the st. at around one million zillow is probably a $1,600,000 place. Zillow founders need a prayer breakfast with Reverend Jackson and plead forgiveness.


Bill - I agree. But according to alot of people out in the world - they feel that any owner who takes this as a serious matter - plays with imaginary people and showers with hairdryers. They feel that Zillow is a toy and should not be taken serious and home buyers/sellers should just treat it as such. But now - throw the wrench back in the fan - NOW - you have FSBOs and Agents placing their ads on Zillow with thier price and the Zestimates. So, my next question is - who's price do you go by? I know when I go shopping - I take the lower price. No? Forgivness at this point is mute!

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