Zillow: A Guide to Zillow’s Real Estate Listings and Tools
Zillow is a comprehensive real estate platform that helps users find homes, connect with agents, secure mortgages, and more.
- Popular Among Buyers and Renters: Zillow is widely used for browsing home listings but also provides tools for sellers, agents, and landlords.
- Zestimates for Property Valuation: These estimates help buyers and sellers gauge property values, though their accuracy can vary.
What is Zillow?
History and Mission of Zillow
Founded in 2006 by Expedia co-founders Rich Baron and Lloyd Frink, Zillow aimed to bring home listings and valuations online.
- Changing the Market: It revolutionized the housing industry by offering public access to real estate data.
Zillow’s Role in Real Estate
Zillow dominates the online housing search market, boasting millions of listings and generating billions in revenue annually.
- Expanded Portfolio: The company owns Zillow Rentals, Zillow Premier Agent, Zillow Home Loans, Trulia, StreetEasy, and HotPads.
- Tools for Professionals: Zillow also offers real estate software to assist industry professionals.
How Zillow Works
Searching for Homes on Zillow
Zillow simplifies home searches by allowing users to filter results based on location, price, and property type.
- Advanced Filters: Users can refine searches by HOA fees, garage availability, number of bedrooms, and more.
Zillow’s Zestimates: How Accurate Are They?
Zillow provides market value estimates for over 100 million homes, but accuracy varies.
- Data Sources: Zestimates rely on public records, MLS data, and market trends.
- Accuracy Metrics: Active listings tend to be more accurate, with 77% of Zestimates falling within 5% of the actual sales price.
Selling Your Home on Zillow
Listing Your Home
Zillow is a valuable tool for sellers, ensuring high visibility for their property.
- Agent vs. DIY: If using an agent, the home will be automatically listed. Otherwise, sellers can use Zillow’s For Sale By Owner (FSBO) feature.
Zillow Rentals: Finding the Right Property
Renting Through Zillow
Zillow offers rental listings with tools to help landlords and tenants manage properties.
- Zillow Rental Manager: Landlords can list properties, screen tenants, and collect rent payments.
Key Features and Tools on Zillow
Zillow 3D Home Tours
Zillow’s 3D Home app allows sellers and agents to create virtual tours, helping buyers explore properties online.
Zillow Mortgage Calculator
This tool helps buyers estimate mortgage payments based on home price, down payment, and interest rate.
Zillow Premier Agent Program
Real estate professionals can use this lead generation service to connect with potential clients.
- Cost Factor: The service can be expensive in high-demand markets.
Zillow Offers (Discontinued)
Zillow previously ran an iBuying service, Zillow Offers, which shut down in 2021.
Zillow for Buyers, Sellers, and Renters
How Buyers Can Use Zillow
Homebuyers can browse listings, find open houses, and get details on properties.
- Mortgage Options: Zillow offers home loans through Mortgage Lenders of America, acquired in 2018.
How Sellers Can Use Zillow
Sellers benefit from Zillow’s high traffic, which increases their property’s visibility.
- Zestimate Considerations: While useful, Zestimates may not always reflect true market value.
How Renters Can Use Zillow
Renters can search for properties by filtering for key preferences like pet policies, parking, and more.
Pros and Cons of Using Zillow
Advantages of Zillow
- Extensive Listings: Easily find homes and rentals based on custom criteria.
- Agent Connections: Search for top-rated real estate agents in your area.
- High Visibility for Sellers: Zillow attracts 231 million monthly users, making it a strong platform for listings.
- Business Growth for Agents: Real estate professionals can use Zillow’s advertising tools to expand their reach.
Drawbacks and Limitations of Zillow
- Limited Agent Replacement: While Zillow provides FSBO options, real estate agents bring valuable expertise.
- Zestimate Inaccuracy: Zestimates can be off by significant margins, making professional appraisals essential.
- Zillow Premier Agents May Not Be Best: Premier Agents pay for leads, so it’s important to research agents independently.
