Okay, I'm Laughing Over Here!

My accuracy of listing price is about 98-101% of final sale price, based upon how a Seller wants to list and what type of market we are in. This .....Is......All......The.....Time.

Read on here..... ☺

Zillow, who uses that Zestimate we all chuckle over, said this about their Zestimate:

"In response to a lawsuit over the accuracy of the Zestimate, Zillow in 2017 said the tool was within 5% of the sale price 53.9% of the time, within 10% 75.6% and within 20% nearly 90% of the time." 

And, there's this funny note to read as well: "former CEO Spencer Rascoff sold his Seattle home for 40 percent below its Zestimate (Rascoff would continue his seeming battle against the Zestimate, listing an L.A. home last year at $7 million more than its Zestimated price.)"

Those 'odds' don't seem very good to me! And, now, Zillow is testing the iBuyer market they have released using the amount they offer a seller from their Zestimate. Well, the initial amount, the 'lure-you-in' amount. Then, a company representative (not a Realtor apparently) will visit the home for a true offer.

I honestly don't know anyone that has done this with Zillow, and maybe I'm biased. But, I've watched their value errors for almost 19 years in the biz now....I surely wouldn't want to sell my home based upon one of their Zestimates!

This picture popped up when I googled 'Laughing at Zillow'!

People still wonder sometimes, what the heck do those Realtors do to figure out what my home is worth? A lot I tell you, a lot. No computer guesswork/algorithm done here. We look at everything, I mean everything, to determine the most appropriate list price for your home and the subsequent sale price.

I think I'm going to coin my 98-101% odds as a Witzimate! Or should it be a Witzamite?

~ Lauren@KeepYourWitz.com ~ Witz Real Estate