One of the first things people do when they’re looking for an investment property is to start browsing online. Beware! This isn’t beneficial for the buyer at all! Oftentimes, Zillow’s online “zestimates” are way off from the real estate’s actual appraisal. This can give buyers unrealistic expectations when it comes to buying a house or investment property. TN Smoky Mtn Realty is kicking off it’s “Buyer Beware” series with some information on why you shouldn’t rely on estimates from Zillow when it comes to buying Smoky Mountain real estate.
Zillow’s online “zestimates” vs. comp real estate listed prices from a realtor
Who should you trust when it comes to real estate listed prices? The answer is a realtor. Zillow’s online estimates are often inaccurate because they are estimating the value of the property based on public records it has access to. Sometimes that information can be outdated or incorrect. There could be mistakes in property taxes paid or tax assessments, so the online estimate won’t include upgrades or improvements made by the homeowners. A real estate agent’s listed price for a home is based on recent sales in your area with properties that are legitimately similar. It’s like comparing apples to apples. But, with “Zestimates” it is comparing apples to oranges because they base their numbers on algorithms. Realtors will be able to give you a much more accurate listing price.
Benefits of using a Smoky Mountain real estate agent
There is so much room for error when you try to buy a house without a realtor. Simply using what you find online to make your decision just won’t cut it these days. Realtors can equip you with the knowledge you need to make an informed decision. They are essential to the home buying process because of their experience and expertise in the field. These educators are extremely helpful to their clients. Because the truth is that the consumer has a right to be informed before making a decision. You shouldn’t put all of your stock on a Zillow estimate you find online. Also, Smoky Mountain real estate agents have years of experience working in the area. They know about the market and can give you tips that’ll help you in the long run.
Want more tips on buying a house or investment property? Follow the TN Smoky Mtn Realty blog page for updates on our “Buyer Beware” series. Ready to look for Smoky Mountain real estate? Give us a call at 865-280-2569.