BrokerageTechnology

Zillow customizes private ‘Zestimates’ for sellers

New tool helps homeowners gauge their home's value, contact an agent
  • Zillow's new Price This Home tool allows homeowners to create their own, private home value estimates based in part on their own selection of comparable sales and personal knowledge.
  • The tool offers the option to connect to a Zillow Premier Agent for a professional estimate.
  • Price This Home estimates do not affect a property's Zestimate on Zillow's website.

Zillow built an empire on the foundation of a single innovation: the "Zestimate." In 2006, the company was willing to offer consumers what real estate brokers wouldn't: immediate, automated home value estimates without having to contact an agent.Now, the 10-year-old real estate portal is offering homeowners -- and therefore, potential sellers -- a more nuanced option: their own private, customized home value estimates with the option of contacting a Zillow Premier Agent in their area for a professional take. Premier Agents are real estate professionals who pay to advertise on Zillow.Zillow "Price This Home" screen shot"Deciding to sell a home can be stressful, and many homeowners spend a lot of time researching home values and market conditions before contacting their agent," said Jeremy Wacksman, Zillow's chief marketing officer, in a statement."Price This Home is an excellent tool in those early days. It shows sellers how their home stacks up against other homes on t...

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