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Video · Jeff Proctor
Should You Trust a Zestimate?
A Zestimate is an automated estimate — an algorithm, not an appraisal. In Jeff Proctor’s experience it typically lands anywhere from 20% below to 20% abovea home’s true value, and it can miss by more: the Zestimate on his own home runs roughly 30% under what it would actually sell for. It’s useful as a rough starting point, but only a broker’s valuation — built from recent comparable sales and a walk through your specific property — gives you a number you can price and negotiate on. Watch Jeff explain in under a minute, then request yours above.
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A Zestimate isn't always right. In my experience it's usually somewhere from about 20% below to 20% above the real number, so some people get false hopes about their price.
I can tell you personally: the Zestimate on my own current house is probably about 30% below its actual true value.
It's an algorithm — a base program that's there to attract you from a pricing standpoint and give you some kind of valuation, which is understandable.
But you really can't get the exact details unless you get an actual estimate from your broker.
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