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	<title>Comments on: Home Sellers, Buyers, and Realtors Beware of Zillow&#8217;s Zestimate</title>
	<link>http://www.tucsonrealestateblogs.com/2007/04/25/home-sellers-buyers-and-realtors-beware-of-zillows-zestimate/</link>
	<description>Tucson Real Estate, Golf Communities, Golf Courses, and Events</description>
	<pubDate>Fri, 21 Nov 2008 13:08:37 +0000</pubDate>
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		<title>By: David G from Zillow.com</title>
		<link>http://www.tucsonrealestateblogs.com/2007/04/25/home-sellers-buyers-and-realtors-beware-of-zillows-zestimate/#comment-5</link>
		<dc:creator>David G from Zillow.com</dc:creator>
		<pubDate>Fri, 27 Apr 2007 15:43:53 +0000</pubDate>
		<guid>http://www.tucsonrealestateblogs.com/2007/04/25/home-sellers-buyers-and-realtors-beware-of-zillows-zestimate/#comment-5</guid>
		<description>Hi Doug, it's David from Zillow,

You seem to have a good understanding of how Zestimates work -- it is not an exact science. Zillow has not visited the house, and we're not privy to all of the nuances of the local market conditions. A Zestimate value is a starting point for researching the value of homes and affordability of neighborhoods but it does not replace a CMA or appraisal.

So, with that great understanding of how AVM's work, I must admit that I'm confused about why you'd remove a listing from Zillow? 

Consumers get it - and they also come to Zillow for more than just Zestimate values.  More than 4 million people visit the site each month and your clients' house and it's Zestimate value are going to be viewed regardless of whether or not you posted the listing on Zillow. So, why wouldn't you take the opportunity to set the record straight? Why would you rather choose to have the incorrect Zestimate be the only information they find about the house? That seems like bad advice. 

Once a home is posted for sale on Zillow, the "for sale" price takes the Zestimates place as the most prominent information about the home. Unlike other free-to-consumer AVM's, Zillow allows owners and agents to publish corrections to the public facts about the house. In most cases, an incorrect Zestimate is the result of incorrect or incomplete public records. If you use the site to point that out to prospective buyers, you could generate more, not less interest in your listing.

Nielsen ranked Zillow the 2nd most visited online real estate site in February. As you know, 80% of buyers start their search online. Considering it costs nothing to post listings to Zillow, surely it makes sense to do so - especially when you anticipate discussions about an inaccurate Zestimate.</description>
		<content:encoded><![CDATA[<p>Hi Doug, it&#8217;s David from Zillow,</p>
<p>You seem to have a good understanding of how Zestimates work &#8212; it is not an exact science. Zillow has not visited the house, and we&#8217;re not privy to all of the nuances of the local market conditions. A Zestimate value is a starting point for researching the value of homes and affordability of neighborhoods but it does not replace a CMA or appraisal.</p>
<p>So, with that great understanding of how AVM&#8217;s work, I must admit that I&#8217;m confused about why you&#8217;d remove a listing from Zillow? </p>
<p>Consumers get it - and they also come to Zillow for more than just Zestimate values.  More than 4 million people visit the site each month and your clients&#8217; house and it&#8217;s Zestimate value are going to be viewed regardless of whether or not you posted the listing on Zillow. So, why wouldn&#8217;t you take the opportunity to set the record straight? Why would you rather choose to have the incorrect Zestimate be the only information they find about the house? That seems like bad advice. </p>
<p>Once a home is posted for sale on Zillow, the &#8220;for sale&#8221; price takes the Zestimates place as the most prominent information about the home. Unlike other free-to-consumer AVM&#8217;s, Zillow allows owners and agents to publish corrections to the public facts about the house. In most cases, an incorrect Zestimate is the result of incorrect or incomplete public records. If you use the site to point that out to prospective buyers, you could generate more, not less interest in your listing.</p>
<p>Nielsen ranked Zillow the 2nd most visited online real estate site in February. As you know, 80% of buyers start their search online. Considering it costs nothing to post listings to Zillow, surely it makes sense to do so - especially when you anticipate discussions about an inaccurate Zestimate.</p>
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