Zillow's ridiculus zestimate and how to change it?

Question

My property just went live for rent and Zillow's rent zestimate immediately dropped $200.  I know the zestimate is worthless, but it's annoying to have potential renters see a ridiculously low zestimate when paired with actual rent.  Is there any way to get Zillow to show a reasonable rent?

Eugene Kemp · Answer

Then ignore it. If yours is below market, people looking will know it and gravitate to you.

Aaron Nelson · Answer

@Mike S. - Pull rental comps and base your rent on those comps. Most of the time you can use sites like Craigslist and Rent.com to find out how much similar units are renting for so you can arm yourself with this information. it also gives you a sense of what you're competing with.

If a tenant ever questions you, inform them that you've done your homework and can send them comps to prove that you believe the average rent in the area is X because __________.  If they disagree, they won't apply and you'll be better off renting to someone who is a better fit for your property.

Tom Parris · Answer

I overcome the Zestimate by saying it's total BS. Real estate is always local, so what does a company in Seattle know about my market?

Read the Zestimate disclosure, it says it's a total guess

The CEO of Zillow sold his home for 40% less than what the Zestimate said it was worth.

Call and agent and ask them what you can rent it for.

Mike S. · Answer

If they were taking similar rents, then it would be higher than my listing price.

Jamarr Hill · Answer

Isn't there an owner dashboard you can use?  I would try adjusting the information through that.  It could be taking similar rents around the area to achieve that number.

Mike S. · Answer

The average for the area is $1100-$1300 a month.  Zillow had my property zestimated at $1100 a  month for the past year.  I've made no changes to the home facts that would affect changes.  My list price is $1050, lower than any in the area currently for SFR's.  Looking for quick placement.   Zillow now says $900.

Eugene Kemp · Answer

How did you arrive at your desired number? Perhaps you are overestimaing? I know Zillow isn't perfect, but they are usually closer than that in my areas.

Zillow's ridiculus zestimate and how to change it?

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