October 2, 2020
MLS (Multiple Listing Service) are listings listed by realtors and other realty professionals that Zillow uses to get their listings. When buying a home and you're using Zillow, beware of fake listings! Anybody can go in and actually make fake listings which will capture you as a buyer. To ensure a house is legitimate, go to Realtor.com, it only pulls from MLS.
When using Zillow and you look on the right-hand side, you will see a list of agents. These agents paid for that spot and if you contact them, they will not be familiar with that particular home nor the sellers and therefore won’t be able to get you the best deal for that house. Every house for sale has one or two listing agent(s) assigned to that home so contact them to get the best deal! If interested in a house, go to Realtor.com for the contact information of the listing agent. Be aware of fake listings!
A lot of sellers will go to Zillow to try and find an appraised value or a Zestimate on their House and Zillow is mostly wrong most of the time.
Here's a perfect example. A seller wants to list their house at a very high price, let’s say for $499,000, which the house is actually worth 2/3 of that price. Now, the Zestimate that Zillow shows after the listing posted, shows $417,000, which is completely overpriced.
The owner of the house can now go into Zillow and confirm that their home is actually worth $499,000 which is almost $200,000 above what it’s worth. So basically it's taking the Zestimate price and based it off of what the realtor listed in Zillow. If you look at the next door neighbor's house, that’s not even on the market, that house only Zestimate’s for $230,000.
Another example, you look at the Zestimate of your house before putting your house on the market and it says your house is worth about $50,000 to $60,000 more than what it is worth. You get the actual appraised price and it is not what you thought because you looked at Zillow first and the Zestimate was overpriced.
So save yourself some disappointments and time and contact a licensed agent. Someone that works full-time and know what they are doing. If you want to know the true value of your house and if you want to know if a house that you are interested in is really for sale, contact Kerin Clarkin with Kerin Realty, working 7 days a week to help you with your real estate needs.
Presented to you by Kerin Realty
Phone: (516) 909-9213 or at (813) 699-1800
We’ve done lots of other videos, check some out below