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This Old House - Do-it-Yourself

When sellers rely on zillow zestimates.

Written by Posted On Sunday, 23 April 2017 03:56

Sellers are funny. When they disagree with the zestimate they never mention zillow but when the zestimate over-values their home, they love it. Go figure. 

Lets discuss how to deal with a seller who loves their zestimate. First things first. Set the record straight and tell them zillow more or less relies on general information like property tax info, active listings and closed listing data. This model doesn't factor in the condition and usability. Using an automated valuing process is not a great approach. In order to figure out the value of a home its best to have a real estate agent view and comp it out using MLS. Alternative methods are simply not reliable. 

A rational seller will listen to your advise. An irrational seller will focus on the zestimate and most likely overprice. Showing them the MLS data is aways the best approach because it tells the real story.

We spend a lot of time helping our sellers with value with our InstaMLS ma flat fee listing service in Massachusetts and New Hampshire.

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