Friday was the closing for 1103 S. Highland Ave. in Arlington Heights, a house that my buyers purchased for $585,000. I checked Zillow.Com’s “zestimate” today and found it to be $723,646, more than 23% higher!
How can Zillow be so off?
Bad data? You can’t blame it on bad data which is sometimes the case on Zillow. It has the correct size for the house and lot. The data on bathrooms is off slightly. Zillow reports 3 1/2 bathrooms. The house actually has 2 full bathrooms and 2 half baths.
The house needs updating and was in poor condition? No. The appliances aren’t the latest high-end appliances, but they aren’t bad. The house is in great condition according to the home inspector.
The sellers and their agent are idiots? No, their agent is very experienced. I met the sellers at the closing and these are very bright people. At the closing they discussed living and doing business in China, Brazil and Puerto Rico with my buyers at length. They have bought and sold several homes. They were also not desperate to sell.
I’m a brilliant buyers agent? I’m good, but not that good! 
Online home value estimating systems have a long way to go.
ABOUT THE AUTHOR
Fran Bailey shows, previews and tracks downtown Chicago homes for sale giving her the insights needed to help her clients negotiate the best price and terms. Fran has been quoted in numerous Chicago and national publications. To schedule showings of listings regardless of broker or to contact Fran email her at
fran.bailey@bairdwarner.com or call 773.793.4516.
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Fran Bailey, Realtor
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It can be bad data – just bad data on another house. If someone enters a sale price funky it can throw the zestimates off for the entire neighborhood.
I don’t think that’s it. I looked at the comps that Zillow provided. I am familiar with the most comparable house which sold for around $100K less than the zestimate and wasn’t that much smaller.
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