What’s the difference between Agent Comps and Zestimates? Why do we use comps if there are Zestimates available?

Zestimates are typically generated by algorithms that analyze neighborhood data, considering factors like recent updates and improvements reported by homes in the area. However, these estimates can be misleading because they assume that most homes have undergone similar updates, which may not always be accurate.

In reality, some homes may not have any updates, while others may have had extensive renovations. Therefore, it’s essential to physically visit the property to get an accurate assessment.

I rely on comps and also inspect the property. The same goes for appraisers. I am looking to find the most accurate price a willing able buyer will pay. The appraiser is making sure the house is worth the mortgage amount. We will provide a more accurate valuation based on the actual condition and features of the home. So, when it comes to reliable numbers, realtors and appraisers’ valuations are what you should trust more than Zestimates.