Zillow may be getting a bad rap. Every now and then I hear people express some disappointment with Zillow.com the online homes for sale site
They complain about erroneous information. They complain about listings of homes for sale when they are not and sold when they showing still available. They complain that homes do not turn out to be the way they were presented.
Complain, complain, complain!
Zillow
You know what? That was going on long before there ever was a Zillow. In fact, Zillow has done more to bring transparency to Real Estate consumers than any newspaper – or online service – ever has.
Let’s take a look at what Zillow is and what Zillow does:
Zillow is an online real estate publication, just like any newspaper only instantaneous – and free!
Like a newspaper, it makes its money on advertising.
Also like a newspaper, it provides property information based on public records (remember those “recent sales” sections in the newspapers?) and allows real estate professionals to place ads and write informational pieces on its site.
If the information coming from the County or the listing agent is inaccurate, Zillow is not at fault. They only present what they believe to be true. They do not confirm – or investigate.
Just for the record, Zillow does not pay any money to me. In fact, I pay money to Zillow to present my homes for sale on thier site – with a million other Realtors.
People who think you can just “go online” and see how much their home is worth or how much to offer on their next home really need to get a little closer to reality.
Those determinations can only be made by diligent - and often “in person” – analysis and investigation. Zillow merely takes the information that is available to it and allows access by the public. And in exchange for this access, the public is obliged to see an ad or two.
Zillow does not pretend to be an online Realtor. Or an online loan Broker. Any more than they tell you that you can perform an online home inspection. Zillow does not promote itself as a short-circuit to success in buying or selling real property.
Those areas of expertise demand thoroughness and close and careful scrutiny.
What Zillow does do is allow access to a tremendous database of public information, a long list of local practitioners, and provide a forum for questions and comments from Buyers and Sellers.
So, if the information about a certain property is less than accurate, if a home does not apear the same up close as it does on a Zillow aerial photograph, or if the interest rate on your loan is not exactly the same as it was under the Zillow “mortgage” button – don’t blame Zillow!
Use them to get an idea of market conditions, what homes are going for in a certain areas, and what to expect in your Real Estate transaction. For example, they have a calculator to give you an idea of your payment.
Then do what you should always do – align yourself with the best practitioners in their field and let them do a thorough job for you.
Zillow is a resource, not an Oracle.
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