On Wednesday September 3rd, 2014 one of our locations Realty Executives Today hosted Zillow Senior Consultant Marco Druzetich. Mr. Druzetich guided the agents through the websites most popular features and tools to increase an agents marketability.
As an agent, I am sure you have heard of the Zillow Zestimate. Maybe you have had clients coming in saying that Zillow said their house is worth so and so when in actuality it isn’t valued at that price. He explained the Zestimate and what Zillow looks at when creating that pesky number. According to Mr. Druzetich the Queens area Zestimates are off by 6%. That is quite a large difference when looking at houses in the $800,000 to $900,000. That 6% makes a difference. So what does Zillow look at?
Zillow looks at Property taxes and sold properties. However you should inform your clients that Zillow isn’t entering into the houses and rentals. They cannot see the work that will be needed or the potential value of the property. They recommend the listing agent commenting under agent comments why they think the property is actually not worth that value.
Before Leaving Mr. Druzetich discussed what agents could do to increase their visibility on Zillow. Here is one we will share with you. Ask your clients to give you recommendations and reviews. This is a great way to gather more of those buyers searching around Zillow’s website.
A warm thank you to Mr. Druzetich for stopping by Realty Executives Today.
Good Luck Agents and Happy Prospecting!
-Realty Executives of New York