Do Zillow, Trulia, and Realtor.com Have Your Best Interests in Mind?
We want to talk to you about why you shouldn’t always trust real estate websites like Zillow, Trulia and Realtor.com.
What is the purpose of real estate website like Zillow, Trulia or Realtor.com? They’re in business to make money. That’s right, the reason these sites exist is to make money. Be careful if you happen to browse one of these sites and see a realtor next to a listing on these sites. Often times, that is not the listing agent hired by the homeowner to represent them. That agent is most likely paying to be next to that listing.
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Another challenge with sites like Zillow for example is their “Zestimates” – their one way
of telling you the value of a home. On average, these Zestimates have been found to be around $14000 too high or too low. It uses an algorithm which is not always reliable since no two homes are exactly the same even if they share common values like square footage, number of bedrooms and baths, etc.
Finally, we want to the address a common occurrence in these sites where a property is listed for sale, even when they’re not officially on the market. The problem is that anyone can add and edit data on these real estate websites. In contrast, when you use a reputable site like the MLS (Multiple Listing Service) and work with an actual realtor, listing activities are heavily regulated. Any realtor providing inaccurate information, gets a minimum fine of $300.
So what’s the best way to find a realtor who can properly list your property for sale? One way is to post on social media to ask for recommendations from friends or family. Alternatively, you can reach out to us. We have a whole network of professional agents that we trust our friends, family and clients with all across the United States.
If you have any real estate questions we can help you with, call us at 808-234-4421 or email info@teamlally.com.
To get the latest Covid-19 information and its impact on the current real estate market, go HERE.
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