Zillow: We Don’t Know How to Price Homes

Zillow announced they are shutting down their iBuyer program (in which they act as the primary buyer and seller of homes) because, quote, “[they have] been unable to accurately price homes.” 🤦‍♂️💵🔥💵🔥💵

The company lost $328 million during the third quarter of 2021, and virtually all of those losses were from iBuying. This will also force Zillow to reduce their workforce by about 25%.🤷‍♂️

The moral of the story? Don’t trust Zillow to price your home. Far too many homeowners have been misled by their notoriously inaccurate Zestimate. If Zillow can’t even accurately price homes they are buying and selling, there’s little reason to believe their algorithm will be any more accurate in a sight-unseen estimate of your home.

Connect With Us!

If you're looking to buy or sell a property connect with us today!

How Can We Help You?

We would love to hear from you! Please fill out this form and we will get in touch with you shortly.
    (check all that apply)
  • This field is for validation purposes and should be left unchanged.

Leave a Reply

Your email address will not be published. Required fields are marked *