Real Estate Industry Calls Zestimate’s Accuracy Into Question, Even After Upgrades
Published on Rismedia
Carrie Lukins, broker/owner at Sellstate Alliance Realty & Property Management agrees—the onus for home valuations should be on real estate agents, not technology.
“Though Zillow may have updated their algorithms for Zestimates, a computer never takes the place of a local expert. A local REALTOR® who has intimate knowledge of your individual market will always be far more superior than Zillow,” says Lukins.
“Their data is culled from the entire nation, not your individual neighborhood,” adds Lukins, who is only incentivized to compete even more amid the increase in data adoption. “We can always appreciate that Zillow is trying to squeeze out the local expert; that just encourages us to educate the consumer and our local community about our value and expertise.”