Use this first tuesday FARM Letter in your marketing. To request a FARM letter topic, or to see a list of all our FARM letter templates, visit our FARM Letter page.
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Zillow’s a good place to start if you want to get a general estimate of what your home is worth. Zillow’s Zestimates give you a property value range, based on public records of the property’s:
- physical attributes;
- tax assessments; and
- prior and current transaction data.
The drawback? Zestimates are generated by a computer, not a person. Improvements and defects are not taken into consideration. It provides estimates for an expansive database of properties and gives a snapshot of the overall market.
If you’re serious about selling, you’ll need more than a general estimate. A diligent agent compares your home’s unique features with recently sold homes to ensure accurate pricing.
Agents determine the value of your home by preparing a comparable market analysis. The comparable market analysis is based on:
- property type and size;
- number of bedrooms and bathrooms;
- age, condition and style;
- location; and
- dates of recent sales.
Agents, unlike Zillow, gather data by:
- researching the Multiple Listing Service (MLS);
- previewing comparable properties;
- viewing photos of properties; and
- contacting buyer’s and seller’s agents of comparable properties.
Zillow and online home valuation tools are important in today’s market, but they’re not a replacement for professional advice.
Are you serious about selling? Call me today for a free comparable market analysis! I’ll do the research to pin down an accurate listing price for your property.
This is an excellent letter to use for FSBO’s.
all online evaluation tools just take an average price. It’s a good place to start, but not as accurate as spending the time to do a thorough CMA.
Zillow is bogus. They are showing prices in a mobile home park the same as surrounding houses – there is a world of difference between a $40,000 mobile home and a $400,000 house. They evidently can’t see that it’s a “park.” I don’t trust them.