Question:  Why Can’t I sell at Zillow’s Price?

I buy houses directly from sellers all the time. One of my most asked questions is “Why can’t I sell at Zillow’s price.”

This is a valid question, it’s worth investigating.

Zillow provides the “market price” for houses.  But it pulls comps from a very wide area without considering the locality. In DC, the price can vary by block.

 

The text below came directly from Zillow’s FAQ section.

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Is the Zestimate an appraisal?

No, the Zestimate is not an appraisal and cannot be used in place of an appraisal. It is a computer-generated estimate of the value of a home today, given the available data.

The Zestimate should not be used as the basis of any specific financial transaction because data sources may be incomplete or incorrect. The Zestimate is a starting point and does not consider all the market intricacies that can determine the actual price a home will sell for.

Source: Zillow

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Basically, they are telling you not to use their estimate for financial transactions. If you are considering selling your house, you should not use their price for your house.  If you are looking for an actual market price, please contact me. I can provide you with a free and you can decide whether or not to sell. No obligation, please call me at 202-888-0219.

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