The Value Range can vary in magnitude depending on our historical ability to estimate similar homes. A wider range indicates less data is available or there is more volatility in the data. A smaller value range means that there is a wealth of information to help compute the Zestimate and Value Range.
When thinking about a Zestimate for a home, we believe it is critical to consider the width of the Value Range for that Zestimate, as this is giving you an important clue as to the anticipated accuracy of the Zestimate. For the statistically minded, the Value Range is actually a 70 percent confidence interval.
ACCURATE DATA IS ESSENTIAL
Since the amount of data we have for a home affects the accuracy of the Zestimate, it’s important that you review your listing’s facts and update the information if necessary. To update your facts, you must first claim your home.
Once you have claimed your home, verify the home facts are correct. Update the number of bedrooms, bathrooms, home size or lot size by clicking, “Edit home information.” You can also add architectural style, roof type, heat source, building amenities and more.
Zestimates are updated every day, and agents and consumers can easily correct erroneous information that may negatively affect the Zestimate. Outdated and missing information from public records is a common cause for inaccurate Zestimate.
QUESTIONS?
Your best resource for answering questions on Zillow’s main website is
www.zillow.com/zestimate/.This web page has answers set up in Q&A format and addresses virtually every possible question or scenario that you, your clients, and your sphere of influence could ask. Additionally, Zillow has excellent customer service — give them a call at 206.470.7000 (press 5 for customer service) and find out for yourself.
RETT HARMON (
RETTHARMON@GMAIL.COM)IS BROKER/OWNER OF CENTURY 21 NOVUS REALTY, AND OWNER/TEAM MEMBER OF SOUTHERN ROOTS GROUP, BOTH LOCATED IN CARROLLTON. TERRY SWANSON (
TSWANSON@YOUNEEDRESULTS.COM)IS THE BROKER/ OWNER OF CENTURY 21 RESULTS REALTY IN CUMMING.
FIVE STEPS FOR ZILLOW SUCCESS
There are five simple steps to take on the road to Zillow accuracy:
Complete your Zillow profile.
Update your profile page with current description, bio, and a photo no more than 12 months old.
Claim your listings.
In many markets your MLS already feeds Zillow, so your listings are already there. When you stake the claim to your listing, you can correct any inaccurate information. This is very important, as your seller will surely be looking at their listing on Zillow.
Update photos.
Delete the old MLS photos from the previous listing agent that do not showcase the property as well as the photos that you have taken.
Claim your past sales.
Focus first on the past 12 months then work on previous sales. In most markets, claiming your sales is by far more beneficial to the agent than it is to Zillow. Zillow imports data from the tax record database, and if you get the data to them sooner than the tax database, you are demonstrating that you are the expert and are actually selling real estate.
Request Reviews.
Reach out to past clients, customers or someone you worked with that did not buy or sell. Ask them to weigh in on your services. If you are advertising as a Premier Agent and do not actively request and achieve reviews, you are wasting money. When a consumer is browsing Zillow and they want to choose which one of the three agents in a given zip code to contact, you are competing with the other two agents or teams. If you have no past sales (claimed) and few or no reviews, you appear to be inexperienced or not as active as the other agents.
22 I GEORGIA REALTOR® FALL ISSUE 2016
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