“But Zillow says my house is worth more!”
What should you do when your seller insists that Zillow knows better than you do when it comes to pricing? Inman News has tackled this topic and has a few words of wisdom in the bargain.
While winning the pricing battle isn’t always easy, you can simplify it. Keep in mind that Zestimates, which is Zillow’s automated valuation model designed to estimate a home’s value, have been irritating to listing agents since Zillow first came on the scene – and are still a bane of listing agents today.
But here’s what to do: Show your seller other automated valuation models, otherwise known as AVMs, as well as the prices that they generate. There are some inherent problems with AVMs, no matter which ones you’re talking about:
· There’s no real way to look at the condition or the interior of the property
· There’s also no way to take special features into account
· Pricing algorithms generate a price range rather than a specific sales price
Here are a few AVMs you might consider showing to your seller:
· CoreLogic’s ePropertyWatch.com
Hope this helps with pricing issues!
Dreaming of San Francisco? Cece Blase offers local advice to San Francisco buyers, sellers and owners– and feeds the dreams of those who wish they could live in Tony Bennett’s ‘City by the Bay.’ Call 415-577-0809 or email firstname.lastname@example.org. www.ceceblase.com