Boston condo buyers and sellers: Don’t trust Redfin or Zillow’s auto estimates
It is amazing how much faith Boston condo buyers and sellers put into their zestimates and Redfin estimates. In spite of them obviously being ginned up, people just want to believe!
As long as automated valuations are carrying so much weight, let’s include a few more!
There are three more estimates at the bottom of realtor.com listings.
Take the Average? Median? Highest? Lowest?
Boston condo sellers will find out what their home is worth when they put it on the open market, so any pricing error will be temporary, and easy to fix.
It’s the Boston condo buyers who should be concerned about putting too much faith and confidence into these Zestimates and Redfin estimates accuracy. Look how it turned out for Zillow’s ibuying venture – they lost between $500M and $800M!
If you want to buy a Boston condo for sale or list your property, please contct your local broker and don’t put to much faith in these automated valuations.