Shopping for a home now is much different from the way our parents did it. Today, it occurs mostly online. And that’s why we’ve seen the advent of big websites as marketplaces where buyers and sellers can come together for ease of marketing and transactions. Convenience, then, is the main reason so many people use Zillow or Redfin to sell a house. But should they really? Let’s examine the downfalls of using Zillow or Redfin to sell your house in Los Angeles.
The Big Sites
The major players among real estate sites have some very attractive features that may entice you to use Zillow or Redfin to sell your house in Los Angeles.
Zillow is the most popular real estate site with a monthly average of close to 40 unique visitors. The biggest draw is the Zestimate feature, a home valuation tool. It is said to be the key ingredient in Zillow’s success and uses a proprietary formula based on public and user-submitted data. Each property gets a page that includes both price and tax history.
Making the claim that it is the original source for map-based searches for real estate listings, Redfin boasts around six million unique visitors per month. It also has low seller listing fees and offers more property information than many other similar sites. In addition, it offers property-specific information about local amenities like schools, restaurants, and stores, along with a convenient mortgage payment calculator.
Downfalls of Using Zillow to Sell Your House in Los Angeles
The sad fact is that many of the listings on Zillow are not up to date or just inaccurate. Listings that show as active may actually be sold or even be listed with a different agent. In addition, the Zestimate tool can be highly inaccurate. Statistics show (and Zillow admits) that Zestimate is accurate only to within 20% of the final sale price and that only 83.1% of the time.
ONLY A MARKETING COMPANY
Another one of the downfalls of using Zillow (and sometimes Redfin) to sell your house in Los Angeles is the fact that Zillow is a marketing company, not a real estate broker. Real estate is simply the vehicle the company uses to make its marketing money. They have tons of buyers searching for homes and sell these leads to agents and brokers.
Real estate is really a local phenomenon, where local markets are the most important. Zillow, however, misses that mark because it is not local, being a nation-wide database and marketing service. Zillow simply connects people with a local agent when they request local information.
Downfalls of Using Redfin to Sell Your House in Los Angeles
Going through Redfin to sell your house means that showings are automated to the nearest available touring agent. That removes the personal touch and ability to connect buyers with exactly what they’re looking for that come with a local agent.
Redfin operates on a volume business model, so agents often wind up with more clients and paperwork than they can do justice to. And when agents are overextended, errors creep in, as can be seen in the number of negative reviews citing botched offers and counteroffers.
LITTLE AGENT CONTACT
Similarly, because Redfin agents are so overwhelmed, they don’t have much time for personal contact with clients. They simply aren’t available for that essential communication that traditional agents can provide.
LACK OF MONETARY MOTIVATION
Another of the drawbacks of using Redfin to sell your house in [markets_city] is the lack of motivation agents have to do their best for you. Redfin agents don’t receive a percentage commission (which is standard for traditional agents) and, as a result, may not be motivated to provide the guidance and aggressive negotiation you need.
Use a Local Agent
While you can use Zillow or Redfin to sell your house in [markets_city] – many people have done it successfully and satisfactorily – most experts advise against it. The main reason is that only your qualified local agent really knows the local market, which is what really matters. So if you want a local agent who will work aggressively for your best interests, contact us today!