When shopping for a house to buy, there are many different online tools to choose from. One tool that can provide you with a lot of information about homes that are available for sale is Zillow, which an online real estate database that was first established in 2006. Below are several frequently asked questions and answers that will give you more insight into Zillow and how it works.
Are Zillow Zestimates Accurate?
When looking for properties on Zillow, the majority or properties in the database will have a “Zestimate”, which is a real estate estimate provided by the Zillow database. Overall, the Zillow estimates are considered to be fairly accurate as they take into consideration recent sales and other listings for comps in the local market as well as tax records. However, the value accuracy is only as good as the information available. If the information on the home, such as the square footage, number of bathrooms, etc. is wrong, the Zestimate will be less accurate as well.
Are Zillow Listings Accurate?
Overall, Zillow listings are very accurate. Zillow will take information from the public MLS network to create a listing profile for homes that are for sale. The database is updated on a daily basis to reflect the most recent listings and changes to existing listings. This helps to ensure that Zillow has accurate and current listings, accurate property information, and current photos of the property.
Are Zillow Reviews Fake?
Overall, reviews that are submitted into Zillow are accurate. While it has an open forum that allows any realtor, homeowner, or other person to submit a review, Zillow has a very strong control system and process in place. Every time a review is submitted for a property, a person that works for Zillow will review it. This helps to prevent obviously fake reviews from being added and also eliminates the risk of solicitations from being processed through the reviews.
Can Zillow be Trusted?
Overall, Zillow should be considered a very trusted source for information about current listings. Zillow uses the MLS, which is the same source of information that is used by other real estate websites, so it should be able to provide very current and accurate information. Furthermore, it is a great and honest place to get more information about a home such as when it was listed for sale, what prior home sale prices were, and historical tax records.
How do Zillow Estimates Work?
Overall, Zillow estimates for a home value are very accurate and the process for coming up with an estimate is sophisticated compared to other real estate websites. Zillow will use a variety of information that is publicly available including sales comps, active listings, tax data, and property information to determine what the current value of the home is. Zillow will then track the historical information for each property that is in its database to show a trend of value over time. Zillow can also provide more detailed information for the market as a whole, which will show whether a certain market is a buyer’s market or a seller’s market.
Does Zillow Work in Canada?
At this point, Zillow does not work in Canada. Since Zillow is one of the most commonly used real estate platform in the United States, the expansion into Canada is likely forthcoming. Starting in the beginning of 2018, the company announced that it intended to further its expansion to include a few select markets in Canada. If the company is able to release a new application and website for the Canadian market, it will likely focus on the metro areas around Vancouver, Toronto, and a few other major metro areas in the country.