Great new tools make Zillow a hit!

Back in July 2006 I wrote “To Zillow or Not To Zillow” as my first blog entry. Since then, Zillow has added many features which make it a pretty good web site to go for home buying and selling information.

The first new feature that helps with the accuracy of the Home Value Estimates, which Zillow calls “Zestimates,” is now the owner of the property can log in and make any changes necessary to give a better value. For instance, when I look at my home address, Zillow says that I have 1.5 baths and does not list the number of bedrooms in the home. The Zestimate I get from Zillow seems very low. When I go in and correct the number of bathrooms from 1.5 to 2.0 bathrooms, and enter 4 bedrooms, the value of the home is much closer to what I would have expected. Again, Zillow is using mostly public records data which can be inaccurate and incomplete. But, it still can be a good starting point to look for approximate values in a neighborhood.

The next features all deal with selling your home. If you are planning to sell your home without the use of a Realtor, you can list your home for sale. You can list your sales price and all of the features and amenities of your home as well as all of your contact information and any upcoming open houses you may have scheduled. You can even pick comparable properties in your neighborhood to show the value of your home.

If you are a Realtor, you can have a profile on Zillow and advertise all of your listings – for free! Just another tool to let potential home buyers and sellers get to know you and another avenue to get exposure for your listings. There are several other cool tools for Realtors such as a Real Estate Guide where you can contribute and share your expertise with the people who visit Zillow.

They will also allow professionals within the real estate field (e.g. Realtors, loan officers, home inspectors, attorney, etc.) create EZ Ads to advertise their services. It is a very cheap way to get your name out (only $0.01 per showing) and you can target specific zip codes and you are in complete control of how much you spend on these ads. I have just completed my first EZ Ad so I do not know if it is at all effective, yet. But, in the future I will let everyone know my experience.

The last feature I am going to talk about is the “Make me Move” listings. Let’s say you like where you live, the house is fine, you get along with the neighbors, etc. You aren’t actively looking to move but, if someone offered you the right price, you’d be out the door. That is what this tool is for. You set the price that would make you want to leave your property. You don’t have to deal with all of the hassles of actively marketing your home or having a Realtor do it for you but, if there is a buyer that would love to buy your home, he can contact you and make an offer.

Again, the Zestimates offered on Zillow are still dependant upon the information contained in the public records and, therefore, you need to be careful when relying on these estimates. But, they are moving in the right direction. And, the cool new tools make it a great site to check out when looking to buy or sell a home.