Use this firsttuesday 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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Will Zillow give you an accurate home value?
Zillow’s a good place to start when 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 observed or taken into consideration. It provides estimates for an expansive database of properties and gives a snapshot of each property as part of the overall market.
When you’re serious about selling, you’ll need more than a general estimate. You need insight into local trends.
A diligent agent determines a more accurate value of your home based on recent local sales by preparing a comparable market analysis (CMA) tailored to your home. The comparable market analysis is based on:
- a property’s type and size;
- number of bedrooms and bathrooms;
- age, condition and style;
- location; and
- history of its recent sales.
Agents, unlike Zillow, gather data by:
- researching local property sales;
- viewing comparable properties;
- observing the conditions of your property;
- pulling data on local weather and climate risks; and
- contacting agents for buyers and sellers of sold properties.
Zillow and online home valuation tools are important in today’s market, but they’re not a replacement for professional analysis and knowledgeable local advice.
Are you serious about selling? Call me today for a free comparable market analysis.
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.