Columbia River Realty broker, Paul Shapard, shares why a local real estate broker is your best bet for an accurate home value estimate
Do you want to know what your home is worth? While popular real estate resources like Zillow offer a free home value estimate, clients are often surprised to learn these estimates are inaccurate. In fact, Zillow’s CEO recently sold his home for 40-percent less than what the Zillow “Zestimate” showed, and two years ago, I sold a nice custom home in Camas that Zillow reported had sold for almost 30-percent more.
Today, I’m sharing a couple of reasons why a home value estimate from a local real estate broker is more accurate than an estimate from an online resource.
1. A local real estate broker has knowledge of your specific market
Our brokers research what similar homes in your area recently sold for and provide you with a comparative market analysis (CMA). On the other hand, Zillow relies on public records to create an estimate. Those numbers are often input incorrectly by the broker, title company, or county. Unless the owner corrects the mistake, the incorrect numbers stays on the books and will lead to an incorrect Zestimate.
2. Our brokers are familiar with the local area
Your home value is affected by local community features such as hiking trails, parks, schools, and retail. As local real estate brokers, we know when a new road, new shopping, or new school is built and will consider that when pricing your home. Unfortunately, it takes months for Zillow to catch up with local changes that can affect your home value.
3. Our brokers will tour your home and property
A broker will personally tour your home and identify factors that influence your home value such as updates that have been made, if it has a view, and if it’s a waterfront property. These are things that Zillow will never be able to assess.
It’s fun to look online and see what your home may be worth, but please don’t assume that it is an accurate value. Instead, call myself or another broker at Columbia River Realty, and we will provide you with a FREE CMA and more.