Real Estate Blogs

The Island Wide Team

Let’s face it. Zillow does a great job of marketing to consumers. The user friendliness of the site, as well as a multi-million dollar marketing budget is what keeps driving buyers and sellers to the site. Even with the availability of hundreds, if not thousands, of licensed, professional market experts right there at every consumer’s fingertips… the would-be buyer and seller put their blind faith into an algorithm based advertising portal based somewhere in the Pacific Northwest.


It’s not that the consumer truly believes that Zillow is the best source for the information they are looking for. It’s a matter of how fast and easy they make the information available. We are all searching for ways to reduce time spent on projects and reduce the friction involved in getting to the result. Zillow does an excellent job of this for the users of their system.

So, rather than go into all the features and benefits of calling an area expert, AKA Realtor, versus getting your information from Zillow, I’ll instead share some key data points about the Zestimate. Should you desire a more accurate approach to valuing your home, or a home you are considering purchasing, complete our easy contact form and someone from our team will reach out to you shortly.


In the meantime, here are some interesting notes about Zillow and their Zestimate…

Across Long Island (Queens, Brooklyn, Nassau & Suffolk included), as of July 25th, 2018, Zillow has reported that the median of error in their Zestimate is approximately 5.825%. With an Avg. Sales Price of $572,750 reported across the same geographical area, that allows for an approximate deviation of $33,000 in either direction.

Individually, the counties across Long Island suffer from a fairly significant median of error.

  • Nassau County - 4.3% = $21,500 deviation (avg sale price $499,000)

  • Suffolk County- 4.8% = $17,500 deviation (avg sale price $365,000)

  • Queens County- 6.4% = $41,000 deviation (avg sale price $637,000)

  • Kings County - 7.8% = $62,000 deviation (avg sale price $790,000)

Check out some more interesting data from Zillow regarding the innacuracy of their Zestimate here… https://www.zillow.com/howto/DataCoverageZestimateAccuracyNY.htm


At the end of the day, Zillow isn’t necessarily trying to hide the imperfections of its Zestimate, but admit they are to be used as a broad, albeit not-so-perfect, guideline to be compared with other sources. The best source for an accurate assessment of a home’s value in this market will always come from a licensed, active, local expert... Namely, a Realtor or Appraiser.


To schedule a quick, 10 minute, in-home pricing strategy consultation, contact us anytime and we would be happy to assist you.


Read more: Zillow Estimates: Not As Accurate As You Think | Investopedia https://www.investopedia.com/articles/personal-finance/111115/zillow-estimates-not-accurate-you-think.asp#ixzz5ROTAZTUX

With all the home search websites available, how does a buyer decide which to use? How do you know you are getting the most up-to-date, and accurate, information?


RealtySourceLI utilizes the newest technology available to create the smoothest home search for our clients. Our invite only search tool, COLLABORATE, is designed to take the fuss and frustration out of searching for a home.


The Multiple Listing Service (MLS) is the Realtor's listing system. However, we know that MLSLI.com isn't the most user friendly experience. That is why we have partnered with COLLABORATE to bring the power of the MLS to our clients in a simple to use platform that rivals any of the third party sites (Zillow, Trulia, Redfin, Realtor, etc.).


Not only have we simplified the search tool, we also created the most advanced listing alert system in the industry. Our clients get notified within MINUTES of a home coming to market, via TEXT and/or email.


When searching for a home in this market, having the information come to you as fast and as accurately as possible is key. Homes are often selling within a few days, if not hours. Setting an appointment to see a home as soon as readily possible is often the difference between buying your dream home or missing out on the opportunity.


Be sure to connect with our team at (631) 977-7042 to create your personal automated home search today!

Most people start their home buying search by looking at sites such as Realtor.com, Zillow or Trulia.  That’s completely fine and understandable, but really, the next step to buying a home should be to hire a Realtor to represent you.


Searching online on your own takes a LOT of time, and you can get lost in the abundance of information being thrown at you.  A Realtor can create automatic search via the MLS (Multiple Listing Service), and will be able to decipher and explain the details of each listing.  


Our team at RealtySourceLI utilize a unique home search platform called COLLABORATE to create one of the smoothest search experiences in the industry. How would you like to be notified IMMEDIATELY, via text and/or email, the moment a property that meets your criteria comes on the market!? In a market, like Long Island, where great properties sell in a matter of days, it can be an enormous advantage to be able to get in and to see a property as quickly as possible.


So, how do you find and pick a Realtor?

Well, hopefully  you’ll contact our team at (631) 977-7042 or kkelly@realtyconnectusa.com so we can meet in person, and see if we would be a good fit together.  Remember, not all Realtors are right for all people. It is important to find someone who is not only great at his or her job, but someone you feel you know, luck and trust enough to guide you over the speedbumps of the transaction and to the closing table.


First, you need to determine if the agent has the experience, customer service ability and understanding of the market that you’re looking to purchase in.  Start out by noticing how quickly the Realtor responds to your initial phone call or email.  If the Realtor doesn’t get back to you within a maximum of 24 hours, that’s a bad sign.  This business moves fast and deals can be lost if your Realtor doesn’t respond quickly on your behalf during negotiations.


Second, interview the Realtor by asking them very specific questions.  Click here to read a post with our recommended interview questions.


Then check out our responses so you can see how the Realtor you're interviewing stacks up!


Third, expect to sign a buyer representation agreement. Legally, this is the best way to ensure you are receiving the services of the agent as their client, not just a customer. Remember from the article "5 Secrets Every Home Buyer Should Know", that an agent is always representing the interests of the seller, unless hired to exclusively represent the buyer.

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