Zillow Lets Owners Have Some Say
Now, here's good news if you have had an issue with your Zillow estimated value on your home: you can now add your own estimate of the home's value, next to the Zillow generated value.
It's about time there was a way for property owners to provide feedback on Zillow values. I'd been hearing lots of stories of properties that were improperly valued, and sellers who were suffering as a result. After all, if Zillow has grossly underestimated the value of the property that you are trying to sell, how likely is it that you'll get something close to your price?
It's no surprise that the changes have come after Rich Barton, the CEO of Zillow, found that his home had been improperly represented. Apparently, Barton's home has a number of features, including an additional bathroom, that wasn't reflected in the Zillow entry for his property. Since he's currently selling his home, he finally shared the pain of other sellers who'd been Zillowed with a price that was too low.
Zillow has published the procedure for changing your home's record. You register under your own name, claim your home's record by verifying who you are, and then you can add information that will be presented side by side with Zillow's. Barton is encouraging homeowners to set the record straight -- which can only benefit Zillow, since the site will be visited by both sellers and buyers, in order to get information.