Q: Dear Dustin and Cameo,
As a long-time renter and a first-time home owner, I am curious as to how accurate online real estate brokers like Zillow and Redfin are? They have served me well in finding properties in the past, but now that I am ready to sell my home, can I rely on these platforms to quote me with the right value?
A: Dear Home-Seller,
This is one of the most frequently asked questions we hear as realtors! When buying or selling a property, internet marketplaces like Zillow and Redfin are excellent sites to begin your research. We like to remind our clients that these websites can be useful resources, but they aren’t the be-all and end-all. The core objective of these companies is to capture as much market data as possible and resell it to realtors for a profit. When determining value, for instance, They collect large amounts of data and condense it to an estimated number. So, while these platforms are excellent places to start, they lack key aspects that only local realtors can grasp. Personal knowledge and experience cannot be replaced by algorithms.
What is our recommendation? Do your research and select a reputable, local realtor that knows the area understands the community and knows how to meet your individual buying/selling needs.