Nowhere near - and they're not even consistently 'too high' or 'too low' - they're just inevitably WRONG!

How I explain it is with the actual data - it's hard to argue when the FACTS are right before your eyes!

How could they do that?  They don't understand the street, the neighborhood, and have not seen the interior of the home!  It take a smart agent to come up with the right number.  A

In most cases ... not even close.  Not even in the ball park.  

Zillow is so inaccurate. It works on a radius search and does not take into consideration specific neighborhoods nor unique things about the actual property. 

No. Zillow has never been to or inside the home. BTW, Z's wild guesstimate of my home is not only 20K off, it also insists that I have a pool. I have never had a pool.

Never..... Z makes a listing agent's job much more difficult than it needs to be.....

No... and you had better be prepared to discuss real values with both buyers and sellers up-front and justify your numbers.

  Only in a cookie-cutter subdivision with a lot of recent sales.

 Even then, it's a crap shoot.  

Typically not that close... 

Not event close except on very rare occasions. Buyers and sellers will make many wrong decisions by relying on Zillow. This is an opportunity to explain how market value really is determined.

Zillow's Zestimate is getting better every year.  Given a few more years, they might be good enough to be considered "bad".

Texas is a non disclosure state so it's almost always off.  

No, they are notoriously "off".

No AVM reflects that including Zillow.

Definitely no.

No

I would like to ask Spencer Rascoff the same question.

I never actually look at it.  

Sometimes they get it right, most of the time their guess is a bit off.

Dante Lee Nope!!!

You're kidding right? You have to be new to this forum.

No where near our CMAs and guess what, when I contact Z to bring them into 'The Know', they don't want to hear about it. When the homes sell..YUP; at or close to our CMA number. Z ia a waste of time, effort and not worthy of existence

No Zillow and others are typically 5%-38% off, usually over estimated but sometimes too low.

They are not able to possibly offer what a local knowledge appraiser or Realtor can.

They do not, they are most often way off - and it could go either way, too high OR to low. -Kasey

Not at all. Z does not have local information nor knows the local neighborhoods like we do.

Not accurate at all, that's why it is estimate. It is like comparing apples to bananas. 

Dante Lee - okay, I do not want to get started....

Nyet.

They are either way high, way low and almost never in the ball park. If a home owner is trusting that numer it's as good as sticking your finger in the wind!

They are not accurate and I tell sellers and buyers why they are not. Zillow has not seen the homes.

No not at all! 

They can be off 10 to 20% on average in my area. Every now and then i get one that is close, but mor ethan not it is off

No not accurate but definitely a conversation starter

That is why I invented CIS Score.

It allows the homeowner to do EXACTLY what they really want to do.

With fours years of data, accuracy is within 4% of sold Price for houses between 200 and 800K.

And, yes, I show the owner/buyer/citizen the Guestimate, Tax appraiser and Bank valuation along with CISscore.  But for ONLY ONE of these do they truly understand what created the value.

If there were no variables it would be a fairly accurate source but in real estate there are lots of variables. These are not take into account by Zillow since they aren't actually seeing the properties that they are valuing. It's hard to estimate something you haven't seen, just my two cents. 

You'll get a big belly laugh out of this group with that question!  

I've seen cases where zillow is fairly close, and other times they can be 15% or more off. But the same applies to our county tax assessments. The market changes faster than public records get updated, so a current market analysis is still needed.

Nina Hollander nailed this one!

 Show them this research article. Z CEO missed his own home on estimates big time two times. He was least embarrased.

Guesstimate can mess up one's life and wife...

Not even close and I don't use NON_professional sites to do any kind of comparisons.

If I am going to look professional I need to portray professional and that means giving the most accurate info possible.  If you are dealing with non-professional sites with bad info you look just as bad.

There's a level of accuracy rating on Zillow 1-5 stars. Even though our Zillow area is rated highly, I think the prices are still over valued. I hate to list high. But when they insist, I tell them I'll take the listing if they agree to drop the price after 2 weeks based upon less than 10 showings or no offers on the property. I educate them and tell them, a property priced home will have at least a dozen showings the first week and will receive an offer before the end of the 2nd week. Otherwise they must drop the price into the suggest range of my comp analysis.

Absolutely not!

No.

I never look at Zillows information, and when my clients refer to them, I show them the real data to reflect market value.

no

No and not a fan of their quessing.

Zillow states they're off by 8% at best.  I've seen them off conserably more, since condition is not something they can factor in.

LMAO LOL LOL - oh wait, you're serious?

Accurate and Zillow in the same sentence makes no sense!

no