How Accurate are Zillow and Redfin Valuations
I have a real estate license, so I don't need these valuation tools to value my properties. But out of curiosity, I let these online companies value my properties. I found REDFIN valuations were fairly close. REDFIN also picked up that some of the properties were rentals. Zillow's Zestimate overvalued them significantly. I'm a seller at Zillow pricing.
What are other people's opinions of these programs? Like it or not, buyers and sellers are relying on these valuations. I have found that traditional appraisers have flaws too. Often they cover too many submarkets to be an expert and they certainly have not been inside the properties that they use as comps.