BUYER AND SELLER BEWARE

Dated: 06/25/2018

Views: 256

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Why You Should Avoid Zillow at all Costs:

  • Many of the homes listed on Zillow may not be for SALE!!!  
    The homes listed on the website are not updated of the current status and many buyers find homes that are either A) Under Contract or B) Sold.  From our experience, this is very disappointing news for many buyers especially in a Low Inventory Market!

  • Inaccurate Information such as property details, price, and listing agent information according to Inman.  Zillow's goal is to acquire buyer's information to sell to agent's online.  Thus, buyer's are being contacted by multiple agents within the market trying to gain their business, not assist the buyer with the property the buyer inquired about.

  • Zestimates are Zillow's tool providing sellers an estimate "rough calculation" of their property.  Many sellers find out the hard way, Zestimates are NOT accurate.  According to LA Times, Zillow CEO Spencer Rascoff stated Zestimates "a good starting point" but that nationwide Zestimates have a "median error rate" of about 8%.  In terms of a home valued at $500,000, that is at least a $40,000 MISTAKE!!!!



Why You Should Hire A Real Estate Agent:

1.  Improved the buyer’s knowledge of search areas: 

Local real estate professionals are often members of community organizations and are usually well versed in their area’s history. Their ties to the community make them a great resource whether you plan to relocate to a new area or across town.

2.  Do you know what’s really going on in the market:


There is so much information out there on the news and on the internet about home sales, prices, and mortgage rates; how do you know what’s going on specifically in your area? Who do you turn to in order to competitively and correctly price your home at the beginning of the selling process? How do you know what to offer on your dream home without paying too much, or offending the seller with a low ball offer?


3.  Negotiated better contract terms:  


When it comes to negotiating the complex terms of your contract and coming to an agreement with the seller/buyer, it never hurts to have someone who has been there before on your side. 


4.  What is the home you’re buying/selling really worth:


It is important that the home you are selling or buying be priced correctly for several reasons.  To attract buyers, not to over pay for the home, and for the home to appraise in order to achieve loan commitment.  


5.  Provided a better list of service providers:


Local real estate professionals are often members of community organizations and are usually well versed in their area’s history. Their ties to the community make them a great resource whether you plan to relocate to a new area or across town.

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Vincent Caropreso

Being the CEO and Team Leader of Team Caropreso, Vince specializes in Listings, Marketing, REO/Foreclosures,Short Sales and working with Investors. With 19 years of experience and selling over 700 hom....

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