Until the day comes that buyers stop using Zillow to search for homes, I'm placing my listings where the eyes are.  I routinely have buyers calling me with houses not in MLS but on Z (or elsewhere).  I research, educate and we move on.  As far as Zestimates, homes sell for what the market will bear, not for what Z says.  A low Zestimate doesn't force a seller to take less just like a high Zestimate doesn't force a buyer to pay more.  Each of the parties has their financial threshold to make it happen, no matter what that site indicates.

It doesn't benefit sellers, but they expect to see their property there. It is the issue we have to deal with - we know Zillow is inaccurate, but our clients love it. Our local MLS needs to provide a public site which surpasses Zillow and makes it obsolete.

      I'm putting a house on the market next week, list price will be $375K.  I have the comps and sales data to justify that number.  The house will sell at that price, possibly higher.

     My Seller is livid that Zillow says the house is worth $317K.  I told Seller not to worry.  I can educate buyers, and any showing Realtor can see from recent sales in the MLS that Zillow's guestimate is wrong.

Jon I really don't think it benefits them, that's not what sells them.  But they expect to see their home there and everywhere else.

I don't think it benefits them at all - whether the valuations are high or low, it impacts them negatively. However, they WANT their listing on the site for the buyers to see.  It's a damed if you do, damned if you don't scenario.

Liken it to small talk Jon. It goes to meaningful talk with a professional

My sellers want their listings posted on as many sites as possible and then want me to vet out the qualified buyers from the inquiries that come in. I can do that without any problem.

I do not feel it benefits sellers, however good luck convincing them of that!  The problem is they go there, so they expect others to as well.  We need to educate the consumer to move to Realtor.com (that's just my preference since it enforces using a realtor by the URL).

No 

I have sellers, and this statement includes most if not all of them, who have been negatively affected. When they realize that my advice to avoid Z was correct, it is too late.

I actually know it does.  I've sold several listings in my market this year that were listed without of town agents.  So they weren't in our local MLS and they were NOT on MY website, but my buyers found them on zillow.  I contacted the listing agent, showed and sold them.  I'd say the sellers benefited from zillow... you?

not only does it NOT benefit sellers, but it creates issues for real estate agents...

It sure does not. I just got asked this today from a fsbo who has not been aboe to sell. It only helps the buyers looking for steals

No... I have sellers who think their home is worth more than it is because of Zillow and then I have sellers who've called me crying because Zillow said their home was worth less than what I told them it was. I think those AVM's just need to go away on all the real estate portals.

I recently searched for the zestimate on my brother's home and it came in hundreds of thousands low...on purpose. They overlayed the bad price to get the viewer to click the disagree button and be routed to a realtor. Deceptive.

Made it seem like the agent had control of the inacurate information they published. And that poor agent paid for that as a lead.  Hmmmm.

I always check Zillow just to be prepared to hear that information from my client. Such a time waster.

You put your listings where you can get the most eyes.

Statistics have shown that more eyes land on Zillow when searching for a home, than anyplace else.  Regardless of what I may think of Zillow... consumers are flocking there by the "Z"illions. 

I'm going to make sure my listings are there for them to view.

does it really matter?

Jon,

No matter how much ranting and raving everyone does re Zillow, I agree with Liz and Bill Spear .

I don't think it's beneficial but there's little we can do about it unless all the REALTORS join together and stop syndicating to outside sources.

Z needs to go away now thank you

It gets exposure.  That's a benefit.

Most sellers and likely most consumers have a different take on Zillow than the real estate community.  I think Bill Liz and Bill Spear summed it up well when it comes to "participating" on the website.  

Liz and Bill Spear nailed this one!

In a word NO.....keep notices about a listing we sold last year...it's not "appreciated" 30% !  'Really ?  What kind of service is that to a consumer !

All AVMs are just predictors of general value so it doesn't bother me. Yes, I think exposure is good for sellers.

Jon Kolsky - and still they want their listings on Zillow....

What can you do?

All you can do is make sure your listings are accurate when they find their way to Zillow.

Zillow has a very high add budget, the consumers will continue to go there to do their first preview of what is available whether your listings are there or not.

Oh my gosh...this is so frustrating! 

Sellers and buyers both look to Zillow. Why...because it's there and they don't know any better. In knowing that...keep the enemy close....

I will always use zillow estimates, try to educate the buyer or the seller, and show the differences on where the pricing should be and why.

Sometimes an uphill battle...sometimes and ah ha moment...but I've learned if I never take the control from them and let them follow me at their own pace...they eventually get it....or I get a big red bruise in the middle of my forehead from banging it against a cement wall! Either way it's the journey!

No benefit to the sellers but I never had a seller who didn't want their listing to be on Z so I advertise on where the buyers are looking.

No. I do not. As many others have stated, sellers expect to see their home listed there.  

It is the accuracy of the information on your listing that counts!

NO!!

I can only speak for the Denver Market.  When it comes to a large decision or purchases, Consumers research on their own before they ask a professional.  (financial, legal, marriage advice... why they are sick... whats the best car or vacuum)  People don't  believe everything they read or hear any more.   Zillow and other housing sights on the Internet begin the process of a discussion with Clients. It will never replace the need for the personal touch that is needed in this industry.   Clients are becoming more educated to choose the right Realtor for them.  They are looking for Realtors that know more then they do after they did all of their research. This means that they are choosing a professional Realtor over a friend that just got their license and is going to "give Real Estate a try part time".  I am grateful for this change.

Not a zillow fan with their numbers at all Jon!

Jon Kolsky No, they do not benefit sellers. However, they do have consumers believing they do. It just our job harder in having to reeducate them.

It is still another avenue to advertising your listings. . .  let them call you for accurate information . . . . . .

Hmm, from what I have heard coming from the lips of agents and the desk of NAR, 90%+ of all transaction are via rea-la-tors. That means the MLS. Buying and selling is facilitated via information on the MLS while espionage and confusion emanate from the dominion of evil intentions.

By association, many agents have embraced evil intentions and lost faith in their own organization and MLS. Of course the reason is because the agent's organizations have BETRAYED them at every turn.

IT is still the MLS that drives the real estate business for the next year or two at least. Those who are selling the 'freedom of speech' story have embraced an alternative truth. 

Benefits sellers? Of course not. Sellers are being bludgeoned into compliance by the dominate voice in real estate and the parroting of participating agents.

Regardless on how we feel about the Zestimates, the public starts there for their searches.   Denver did not syndicate for quite a while, due to Z not signing a statement that said they would remove listings after UC or Sold.  They finally did.