Just read a fascinating article about how Zillow is not a very good Realtor and am not surprised.
Last year I reported how I thought that Zillow was an interesting web 2.0 company and again the news in general seemed to say that Realtors times were numbered. Well look again Zillow is not too good at forecasting and that is because it does not see houses it only see statistics.
There are many ways that computer program algorithms can be set up to take things into account but a Realtors job is to do this plus look at what a buyer would be looking for as well as condition and salability of a property and house.
I remember back when i first became a Realtor and one of the most important things I thought was to crunch the numbers and find out house prices but I was amazed that seasoned Realtors in the office were able to pull the sales price just about out of the air and be far more accurate than I could be sitting down with stats for a half a day.
Let’s face it, a Realtor that is serious about understanding the market already knows what Zillow will tell you already, that is the easy part. The seasoned Realtor is also going to know all of the small nuances that Zillow can never know.