In the ever-fluctuating real estate market, understanding the true value of your property can be a complex and daunting task. While online tools like Zillow’s Zestimate offer a convenient way to gauge property values, they can sometimes lead to significant inaccuracies. This is where the expertise of a local real estate professional becomes invaluable.

Recently, we encountered a client looking to sell their investment property, a single-family home owned for 12 years. A couple of years ago, they considered selling it to their tenant, relying on Zillow’s Zestimate, which valued the property at $400k. However, due to climbing interest rates, the sale fell through. Fast forward to the present, the need to sell the property has become more pressing. While still open to selling to the tenant, the client sought a professional price opinion and market analysis. After a thorough walk-through and assessment of local comparable sales, we estimated the value to be between $535k and $580k. This was a stark contrast to the current Zillow Zestimate of $468k, underscoring the potential financial loss had they relied solely on the online estimate.

The Zestimate Gap

Zillow claims a median error rate of 1.9% to 2.4% for on-market homes, but this can be as high as 7.49% for off-market homes, and even 12% in certain markets. This variance is significant, especially in cases like my client’s, where relying on these figures could have led to undervaluing their property by a substantial margin.

Why Trust a Local Expert?

Local real estate professionals bring a wealth of knowledge and expertise that online tools cannot replicate. We understand the nuances of the local market, including neighborhood trends, the impact of local developments, and the subtleties of buyer behavior. This expertise, combined with a deep analysis of comparable sales, allows us to determine a more accurate value of your property.

Tailored Marketing and Pricing Strategies

Our team doesn’t just stop at valuing your property; we employ tailored marketing and pricing strategies to ensure you get the best possible price. By understanding the local demand and leveraging our network, we position your property to attract serious buyers willing to pay top dollar.

Don’t leave money on the table when selling your home. Trust the expertise of local professionals who can guide you through the complexities of the real estate market. Click here for a free property valuation and embark on a journey to maximize the value of your home sale.