You'll probably get an earful here about that subject!  

I don't think most savvy people pay them any attention. I think it was more important when the market declined as people were looking to see how much equity they had lost. They quickly found out that they aren't at all accurate. In fact, your guess is way off.

I had a listing sell for 239,000.  I still get reminders from Zillow that the zestimate has changed to 134,00.  Go figure.  Not a fan.

You may find that most agent around here have a special love for big Z

The electronic equivalent of reading tea leaves. Poorly.

I detest Z and everything they do..... they make listing real estate more difficult than it needs to be...

I think the company and what they do ...... sucks. I find them as useful as what I flush down my toilet. 

You need to ask?

For subuarban neighborhoods with lots of similar homes built in similar times, it works quite well.  It think they should give a range since tey dont knwo the condition, upgrades, views, etc which make a big difference.

For homes that dont have a huge number of similar comps, zillow can be way off.  

 By their own admission, they can be off by 20%.

They fail accuracy tests.

A lot more than 1/4 of them are off in my area. They are a pain and take us extra work to explain why they are so off and why both buyers and sellers should not pay attention to them.-Kasey

There has been at least 500s on the AVM user experience here. Z is no different often get sued for its wrong information.  There are several law suits on its flag ship.

Luke Acree A waste of time because they are off and give sellers a false sense of value.

I think it depends on your area.   www dot Zillow dotcom/zestimate/#acc has a table that you can drill down into for any area.  I personally don't think they hurt your ability to sell a home, as long as the buyer and seller are informed.

Not a fan except as opportunity to discuss why it's best to use services of real estate agent not ZZZ >>>>

Luke,

We don't think about Zillow or their Zestimates.

In Texas they are off 20-30%. We are a non-disclosure state..Zillow is not respected for accurate information.

I heard a Zillow authority speak that their range of value is stated as 20% up or down. So that is a 40% range that it could be off. I tell my clients that Zillow doesn't know what the inside of the houses look like and misses the value sometimes as much as 40% according to their public statements.

I heard from a pretty reliable source that the "Zestimate" for the CEO of Zillow was off on the low side by 33%!

They cause more chaos then help, however it does open me up to lots of new conversations and new clients by people asking about them

GARBAGE...

Luke in one word - it's a joke. I always do my own analysis as I know the market and the homes & neighborhoods.

I think any automated valuation is flawed by default.  Zestimates are the worst.  I posted a blog outside of here recently about why to ignore them. 

I do my own estimate of value after seeing the property and it's condition. Zillow discloses that their zestimates are off and need to be verified and adjustments made as needed. Our county has our fair market value listed at $12,000.00 above the current zestimate which is less than a 2% difference.

They are approximations, plus or minus as uch as 25%, that need to be taken for the guestimates they are!

Anything that promotes or starts the value awareness process is relevant & should be included in the math The end result i.e. the market has final say

You may find that most agent around here have a special love* for big Z-Monster

Zestimates are a joke, and if a homeowner wants the true value of a property, call a REALTOR.

I think they are a joke, and it is frustrating that so many lay people put so much credence in them.  So, I as an agent have to take it into account these dayss when doing a pricing or offering strategy.  Drives me nuts.

just 1/4 and just  by 10% ~ what a surprise, I thought it will be a larger % difference. 

They are a conversation starter. 

The estimates they provide are often incorrect. Buyers and sellers, though, do use them and then it falls on us to explain what a real number is and why. Having incorrect estimates out there adds work to our day.

Ken Jones nailed this one!

You are being kind, they are off as much as 38% on much more than 25%

The CEO of Zillow sold his home and IT WAS WRONG ON HIS HOME!

It helps prove my value as an agent, when I bring facts to dipel the myths.

It depends.

I don't believe anything about any predictive site Luke Acree 

Depends on who takes the beating.

Let there be no doubt, with it comes to transgressions originating from the darkside, transgression will occur. However, it is essential to understand that it is real estate agent brokers, franchises and associations that are feeding the legitimacy of the darkside. Brokers, Franchises and association are collaborators in the deception and misrepresentation that is that is Zillow, who has become the voice of real estate. Your broker and Franchise and association made it true. Who is left out of the list? NAR. They have become irrelevant and must work hard to maintain the closed union shop.

Zestimates are lies. We pick the lies we want to believe.

What do consumers think. Depends of if they are the buyer or seller.

The agent who sends money to this organization of deception are demonstrating ethics that should be highly suspect. Agents of integrity should use that.

The Zestimate is something that agents take too seriously. It is just an AVM with incomplete data.

I don't think about them.  I provide an acurate CMA.  If they don't want my advise they can find someone else and waste their time.

Everyone I know, including me, hates Zestimates. It gives homeowners a false sense of the value of their property. 

I bet you know the answer. The numbers tend to be off more than that here.

not a fan of it.  I can do a better CMA with the Cloud CMA

Zestimates work very well for tract housing.  For the rest of housing, especially if the housing types vary in size, style, and age in an area, it's not very accurate. 

In my area, Cook County, IL (which includes Chicago and many of its suburbs) Zillow itself says that its accuracy for being within 10% of the sale price is 65.2%.  That means that it predicts in a range of 20% (10 up, 10 down from the sale price.)  But it also says that its Zestimates are within 5% of the sales price (or a 10% range,) only 42.9% of the time.  Not great odds.

It is up to us to understand how Zestimates work, and be able to explain to our buyers and sellers why they are not what a property is actually worth.  I bring the Zestimate to listing presentations, along with the County Assessor's estimate of market value, and other automated valuations--to show how much they vary and why.  I don't use it every time, but I'm armed and ready if the seller says, "But Zillow says..."

Lastly, Zillow is not a real estate entity.  It is an advertising vehicle that brings eyes to its site, and to its ads, by dangling real estate info in front of people. 

No effect in our great land since they do not operate here.

There is a great deal of ill feelings toward Zestimates among RE agents.

just do you best

They definitely HURT and as a result, I hate Z

Luke Acree - even Zillow does not regard highly of Zestimates.

Z and thier zestimates have hurt many a buyer and seller.  Eveh the CEO over a year ago admitted on a national morning news show said that they are off by 20% and more over 1/2 the time.

So why associate yourself with a non-professional entity