On average, I speak with a friend, client, or potential client about once a week concerning something they saw on Zillow and/or Trulia. Usually, the individual I’m speaking with is SUPER PUMPED about the listing they saw online. Sadly, I inevitably have to deliver disappointing news. Don’t get me wrong- I think these websites are great for looking around at pretty houses. However, in my experience, those looking for accurate and up-to-date information are usually left unsatisfied.
Recently, I spoke with a gentleman who thought he wanted to purchase a two bedroom 2 bath newly constructed property “downtown” for $200,000. I thought something sounded fishy. So, I looked on the MLS (where real information is posted) and saw that this property was actually on the opposite side of McKinney Falls State Park from downtown Austin.
Don’t even get me started on Zillow’s pricing…
|Zillow execs and employees after IPO was released (Photo courtesy of Zillow.com)|
The following post was written by Marty Kramer with the Texas Association of Realtors.
I admit it … I got sucked in.
I was poking around on Zillow when a photo of a beautiful bathroom caught my attention. A little tag at the top said, “Estimate: $15,500.”
Wow! I was instantly transported to daydream mode, imagining this stunning bathroom in my home.
Then, like a needle scratching across a record, a user comment below the photo jerked me back to reality. “Lots o’ luck,” said this person, identifying him or herself as a remodeling professional. The remodeler projected that the cost was off by at least 100%. Another commenter pegged the price at about $60,000.
I should’ve known better….read the rest of the article here.