How to use Zillow - Explained by a Realtor

www.johnsee.realtor
239.304.6224

Zillow, of course, allows you to window shop for places to rent or buy, which is the main draw. But that’s really just scratching the surface.

Here’s what else you can use Zillow for—and expert tips from real estate pros on what to keep in mind when perusing the online real estate hub.

Don’t rely on your Zestimate
Curious about what your home would appraise for? Plugging your address into Zillow will reveal the “Zestimate,” or the estimate of what your home (or any home, for that matter) is worth. I get something in the mail once a year from my county assessor estimating my home’s value, but on Zillow I can check back every month or so—it’s addictive.

A spokesperson for Zillow told us that you should account for a 4.5 percent median error rate.

The margin of error can be problematic when, say, someone goes to sell and they’re relying on a “Zestimate” that might be inflated. Nationwide, homes stay on the market for an average of 46 days, according to the latest figures from the National Association of Realtors. If a home sits on the market far longer than average, it can be a red flag for buyers.

Use Zillow to find a real estate agent—but do your research
Zillow can help you find a real estate agent, points out Bethany Nolan, a realtor in the Greater East Texas area. The “agent finder” tool allows you to search for agents in your area and apply filters to help find someone who specializes as a buyer’s agent, seller’s agent, or in things like relocations or foreclosures. “You can also check out reviews for the agents,” Nolan says.

Hire your whole real estate team through Zillow
Beyond hiring an agent to buy or sell your home, you can find home improvement companies, movers, property managers, home inspectors, and photographers (to get high-quality listing photos for your home). You can read client reviews before reaching out to hire a professional.

Double-check building policies
Oftentimes, data about buildings you’re looking to rent or buy is outdated or inaccurate, especially when it comes to policies about whether pets are allowed, cautions Allison Chiaramonte, an agent with Warburg Realty in New York City. You and your agent should do some fact-checking before getting too serious about moving in. For example, a building on Zillow or StreetEasy (which is a New York City real estate marketplace owned by Zillow) may say pets are allowed, but doesn’t mention that dogs need to be under 35 pounds. (Sorry, Golden Retrievers!)

Pets aside, some other information about buildings might be outdated. For example, it’s possible a flip tax in co-ops has increased or financing rules have become more lenient.

Use their financial tools to estimate budgeting
Zillow features several types of financial calculators, points out Howard Margolis a New York City real estate agent with Douglas Elliman. For example, their mortgage calculator layers in information about loan programs, interest rates, home price ,and down payments to give you a rough idea of how much your mortgage payment would be. Their affordability calculator helps you figure out how much you can realistically afford to spend on a home. Zillow also has a debt-to-income calculator, a refinance calculator, and an amortization calculator.

Follow homes you’re interested in
If you’re in the market to rent or buy, Zillow tells us to make use of the “save” feature when you’re browsing listings. It’s a convenient way to corral the properties you’re interested in, and you’ll be notified if there’s a price drop or a change in the listing. Plus, it will recommend similar homes you may have missed.

#JohnSeeRealtor is here to help you stay ahead of the curve to always be innovating, changing, adjusting, staying as relevant as possible with the very best tools, the right-now strategies, and the things that are working today for buyers, seller and rock star real estate agents! I hope you got some helpful tips and new ideas from this video. To ensure you don't miss all my FREE educational videos all you have to do is follow me on your favorite social media platforms. Here are links for all of those:

Website - http://bit.ly/JohnSeeRealtor
Facebook - http://bit.ly/FaceBookRealEstateTips
Twitter - http://bit.ly/TwitterRealEstateTips
YouTube - http://bit.ly/YouTubeRealEstateTips
Instagram - http://bit.ly/InstagramRealEstateTips

Search for the perfect home: http://bit.ly/PerfectHomeSearch
Accurate Value of your Home: http://bit.ly/YourAccurateHomeValue