We’ve all been on the couch, tens of used tissues littered around us, overcoming the fear of death because in that moment, it seems like the most probable outcome. You reach for the phone and begin typing… i have a fever, body aches, and throat hurts. In an instant, WebMD’s search result is staring you down, glowing like Miss America, red lipstick and all. 

Boom, click. You have polio. 

After a few emotional minutes contemplating the severity of your recent diagnosis, you come back to earth and realize that maybe WebMD’s result isn’t medical gospel. 

Aside from a few hypochondriacs, most semi-intelligent adults have concluded that online diagnoses aren’t reliable. However, this collective hypothesis has yet to reach the real estate world. And like WebMD, Zillow’s home estimate tool, the Zestimate, is the ultimate misdiagnosis. 

“Zillow said it is worth $700,000.” 

“That’s strange. When we looked on Zillow, it said we could sell for $800,000” 

“My cousin said that Zillow said that it’s worth more than you said.”

Zillow isn’t the only culprit. Most IDX sites (real estate search engines) have some form of an instant home evaluator… heck, my website has one too. Click here to check your home’s value. I’ll admit, I often use an instant estimate tool… the one I use is better than Zillow, but same concept. They can be useful when discussing a property for the first time to get a general idea of a sales price. But when you need an accurate estimate, Zestimates and other evals fall short… like Tyrion Lannister short. 

This is because these instant evaluations typically rely on a basic price-per-square-foot calculation. Let’s say the home next to you sold for $450,000 and was 1,500 square feet. That equates to $300 per square foot. If your house is 2,000 square feet, it will show your value as $600,000. For cutie-cooker homes built within the last few years, this can be a fairly accurate way to determine a value range. But all homes are not equal, and square footage is only a small part of the overall equation. These evaluation tools don’t take into account recent upgrades, utility specifics (do you have AC or not), backyard improvements, condition of the home, appliances, etc. There is no way for these tools to see into your home or around it. Consequently, they often boost the value of outdated homes and don’t accurately show the true value of a well-kept, upgraded property. 

This is why it is important to consult a real estate professional. A good agent (emphasis on good) will be able to sum all important factors and offer a more precise market value. 

So, just like you don’t have polio, you likely don’t have an $800,000 house. 

Call your Doctor. Call your Agent.

That’s all!