Zillow "Admits" Zestimate Needs Improvement
Why do this?
They know their Zestimates are off and are now using this grand marketing scheme to show consumers how they're trying to improve on it... And that just plain feels like a sly way of saying that the Zestimate is broken & misleading to home sellers & consumers in general.
The Zestimate has taken a bit of a hit this past year between a couple newsworthy events:
- Their own CEO, Spencer Rascoff, sold his home for 40% below it's Zestimate.
- A Class-Action lawsuit was filed on behalf of a developer in Illinois against The Zillow Group and it's Zestimate.
Between these events and other issues with the Zestimate, it is clear that they still aren't quite hitting the mark with their home valuations.
However, while we still aren't optimistic about the Zestimate's ability to factor in the upgrades & improvements you've made to your home, we are genuinely happy that they are recognizing the problem and are now taking the proper steps to find a better solution.
For those of you that are interested, the initial entry deadline is October 16th, 2017 and the final winner will be chosen on or around January 15th, 2019 (yes, you read that right...2019).
At the end of the day, our team's not interested in helping them make something bad, better. We'll continue to focus on making the best, better by continuing to provide top-notch real estate service to our clients and our local communities at large.
So if you're not interested in what an Autobot thinks of your home's value and would like an actual human who can take into account the upgrades & improvements you've made to your home, then give us a call and we'd be more than happy to put together a free & accurate home value report for you!