Recently Zillow has surged in popularity in Canada, is it worth using to price your home?

One of the most prominent real estate databases on the internet is Zillow. Based in Seattle and founded in 2006 by former Microsoft executives Rich Barton and Lloyd Frink, Zillow provides information on millions of houses for sale and rent around the United States and Canada. Users can search for a property in a specific location based on a variety of criteria, including prices, the number of bedrooms and bathrooms, square footage, the type of home, and other features. 

Zestimates, a popular consumer tool for determining the value of a house, is one of Zillow's core features. These projections are based on data from sources such as comparable sales and publicly available statistics. Zestimates, which was launched in 2011 with data on 90 million households, has since grown to include data on more than 100 million homes across the United States.

In addition to collecting user-submitted data, Zillow addresses inaccuracy issues by providing estimated value ranges for specific properties. Because Zillow has more data on that property, the smaller the range, the more credible the Zestimate is. You can get a better idea of what a house is worth by looking at the high and low end of the spectrum.

Zillow isn't trying to hide the flaws in its Zestimates from customers, and you shouldn't expect totally accurate estimates from other sites either. The goal is for homeowners to utilise Zestimates pricing as a general reference and compare them to other sources. It should in no way be seen as an assessment.

It cannot take into account fluctuations in a number of parameters - changes that differ greatly from any kind of 'average' price. Can the estimates for this information be improved? We certainly do not deal with Zillow as it is supposed to work on paper, but we deal with Zillow as it exists now. In Calgary's real estate market, we are seeing a lot of neighborhoods see infills, new infrastrucutre, new schools, roads, and other changes, that can throw off these algorithms.

You cannot afford to pay tens of thousands of dollars in your pricing or bids when it comes to purchasing or selling.

The easiest way to understand its value is to carry out a comparable market analysis from a local real estate agent and a professional evaluation.

Too often, sellers ruin their home sales by making mistakes that can be readily avoided.

When pricing property, real estate agents are using what is called a comparative market analysis which estimates value by comparing the property with similar properties recently sold. Although you can try to assess the fair worth of your home using this method, without an agent's experience and resources it will be much more difficult. If a seller price a house, it can be counteracted by a number of days on the market. Why didn't the house sell, buyers will ponder.

What is the cost to sellers for these expired or botched listings? The financial loss typically goes beyond the extra mortgage payments required to keep the house impeccable during displays. This affects the value that a buyer finally pays for a list that is too expensive for a house that is too long. Do not allow it happen to you.

If you’re getting ready to sell a house, you might be weighing the pros and cons of hiring a real estate agent.

While it sounds tempting to avoid a realtor and save on “commissions”—that is to say a savings of roughly 5 to 6 percent (the standard real estate agent’s commission)—why don’t we go down the list of reasons why a realtor will save you in your house-selling endeavor.

You will not be taken seriously by your buyer’s agent.

Most often than not, you’re last on a buyer’s agent’s list and even if his client will insist on seeing your home, he might discourage since he is not guaranteed a commission, plus it’s too risky to transact with someone who is not represented by a professional.

You might be exposed to legal risks.

Selling a house is a complex transaction. It requires skill and knowledge of the whole buying and selling process. It involves a lot of form-filling and stuff such as disclosing a defect, hazards, and nuisances. Buyers can sue you for fraud or negligence or breach of contract if you don’t do it the right way. Top real estate agents can very well guide you through a smooth and risk-free process.

You might overprice and underprice your house.

As a matter of fact, a lot of homeowners don’t really have an idea on how much their house would sell. There is a tendency that you overprice your house simply because you are attached to it and have been accustomed with its flaws. Or one day you will suddenly drop your price because you got tired of the process and wanted to just close the deal or your potential buyer said he is now looking in the foreclosed properties in Calgary, even though, for example, you have the best panorama hills real estate in Calgary. Real estate agents know their market very well and they can help you determine the correct price of your house depending on its condition, location, and style.

You can’t keep your emotions aside.

Selling your home entails a roller coaster of emotions. Buyers can say things that can offend you. You will also have to deal with rejections, and you may get frustrated along the way. But top real estate agents are trained for these kinds of situations. They can handle those negative remarks and can even turn them into constructive criticisms.

You don’t have enough time and connections.

Having enough time means working on selling your house full-time and having a wide network of potential buyers. Believe it or not, it’s always better to have a professional who can dedicate time and effort for the entire selling process and who has connection to a large HUGE network so you can get broader exposure for your property. There was a buyer who acquired a relatively cheap house in Calgary because the seller neither had enough time nor sufficient knowledge on where to find potential buyers.

You will waste your time and energy dealing with unqualified buyers.

Everyone knows how big of a deal it is to cancel meetings or excuse yourself from work just to attend to buyers and make your house beautiful and perfect like a showroom. But you have no choice, so you do it anyway only to lose a potential client or waste your time because the buyer didn’t have the financial ability to buy your house. Realtors can help you limit these hassles as they are experts when it comes to evaluating unqualified buyers. They know the right questions to ask to find out if a certain buyer is just someone who wants to view your house or someone who is only curious about it. They also know the right questions to ask to lead a qualified buyer into purchase. And take note, buyers are uncomfortable to have the seller present during a house tour, so there’s a greater chance you’re losing a potential buyer if you do the touring yourself.

You are not trained to negotiate “properly”.

Real estate negotiation requires a specialized experience in selling a home. So, even if you have sales experience in another field, selling a house is still an entirely different thing. After all, you will be negotiating on a big investment which entails a big expense and that’s a lot of paperwork, and as I said earlier, emotions. To know the correct way to negotiate, you need trainings on home inspections and mortgages, and all the financial obligations that you need to be mindful about. Also, selling your home is an emotional process, so you need to learn how to be rational and avoid making rush decisions that you will later regret about. If you are not confident at negotiating, hiring a real estate agent is simply the answer.

Selling a house requires experience and expertise. It’s not just a simple transaction. You could end up with some legal and financial drawbacks if not properly done. While there could be a few property owners who can sell their houses by themselves, the benefits of having a realtor by your side still outweighs all the risks.  A good real estate agent is worth it and hiring one could be your best decision.

When it comes to buying or selling a house, the most logical thing to do is to find a realtor.

Why? To put it simply, realtors or real estate agents are experts in the real estate market. They are trained, skilled, and have the experience when it comes to the entire home buying and selling process, from home research to negotiating with sellers and buyers, to closing a good deal.

And you don’t even have to pay them for doing all that. That’s how realtors are especially important for a buyer or a seller. You may be thinking you are paying higher because of their “commissions” but that’s not true. They are there to save you time, stress, frustrations, and yes—money! If you’re curious about that, you might want to take a look at these simple, straightforward proofs your realtor is actually saving you money:

- Realtors know their market. And with that, they know what you should be paying for a home. They know if you are getting your money’s worth based on a certain location and house conditions. Give them your budget and they will definitely know if the houses for sale in Auburn Bay or the average house price in Calgary suits you.

- They can score great deals. Let them do the home research and you’ll be surprised at how knowledgeable they are when it comes to house hunting. They will know the quality of the schools in the area you are considering, and whether it’s a place to easily shop and work in, and they can even get you the crime rates and demographics of the place.

Throw them a question about interest rates, or even home listings that are not yet public, and they can readily give you an answer. If you’re one who is eyeing a home somewhere, say you might be interested in the luxury homes in Calgary, chances are they are updated in Calgary real estate news and you’ll end up being one of the first buyers to getting a “good” deal on the home. That’s how they can find you great deals.

- Negotiation is their game. Many times, a realtor may be able to get you a lower price for a home, and you get to save thousands of dollars. Appraisals, biddings, waiving of fees, name it, realtors are experts when it comes to getting you score a good deal and saving some cash without compromising the standards for your dream home.

Appraisals, biddings, waiving of fees, name it. Realtors are experts when it comes to getting you score a good deal and will do their best to cut some cost and save you some cash without compromising the standards for your dream home.

If you think hiring a realtor will cost you loads, you better think twice. Everyone knows how tedious the entire home buying process is, and you’ll know the difference when you let a real estate agent help you get through all of it. The secret is to find a realtor that you can comfortably work with, who is patient in answering your unending queries, and who will walk you through each step of your home buying process until you find the home that you’ve been praying for.

When it comes time to sell your home, there are a number of low-cost ways to increase the visual appeal of your home and make it stand out above the other listings in Calgary.

Choosing to sell or buy a property is a huge choice in and of itself, but when it comes to selling and staying competitive among other listings, you should consider how you may improve the beauty of your home.

I spent some time consulting with other Remax Calgary agents, and we came up with a list of fast modifications that we all think will assist Canadian residents boost the appeal of their listings.

Multimedia material such as video and 3d tours are increasingly being prioritized in MLS listings. Calgary is a very modern and stylish city, so if you're worried about how your home will stand out among other listings, we've got some terrific suggestions.

Even in the midst of the pandemic, we're seeing higher-than-ever numbers of new MLS listings in the Calgary area, and we've seen many incidents of fast upgrades boosting a home's asking price by more than a few percent.

Dress up your front entrance.

A welcome environment is always created by a good front entrance. Your home's first impression is created by its door. Hang planters or place pots; a thoughtful selection of artificial plants can aid those of us who don't have a green thumb or are concerned about how they will fare at the end of the season. Decorating the front of your home is less expensive and offers your home a more appealing appearance. Wreaths and other seasonal flourishes can also help, but make sure they're suited for the season given Calgary's fickle environment.

Replacement knobs and handles, as well as a fresh coat of paint on the door surrounds, may be required in older character homes. In terms of hardware, contrasting old with modern produces a lively, sophisticated design.

Refresh your House Number

When was the last time you took a close look at the look of your house number? Number plates on your door that appear to be older might detract from a home's first image, especially if they are cracked, chipped, or faded. There are numerous options for personalising your house number plates. Take a trip around some of Calgary's hippest districts, such as Marda Loop, Garrison Woods, or South Calgary, to see some very unique house numbers.

You don't have to spend a lot of money to make these things stand out, and places like Ikea and Amazon sell inexpensive outdoor LED solutions and decorations.

Check up on your windows

Spend some time looking through some of Calgary's MLS listings in a comparable price range and neighbourhood to see where your eye is directed naturally; brilliant lighting and large architecturally attractive windows are huge focal points in a property.

Depending on the condition of your windows, you may choose to deliberately replace one or two windows in your house to provide a crucial spot on the interior an airier, refreshed, and ventilated sensation, but don't forget about the basics.

Make sure your windows are clean, check at some of the budget-friendly drapery choices available at stores like Ikea or Structube, and consider using flowers to decorate focal windows.

What about lighting?

To fully transform the vibe of a space, you don't always need to completely overhaul your home's lighting. Consider which rooms can benefit from some high-efficiency LED bulbs, and keep in mind the colour temperature and brightness that these fixtures demand.

Adding one or two bright character lights to the main living area can be a cost-effective approach to revitalise a space. There are also inexpensive lighting accents available, such as battery-powered LED strips that may be quickly put beneath your kitchen cupboards and instantly elevate and expand any kitchen.

Calgary is reopening and it’s time for gatherings! Request an honest critique on your home's décor from friends and family.

While your realtor may have some fast suggestions for improving the appearance of a place (paint touchups and plants are always helpful! ), we recommend collecting some feedback from your friends and family.

If we plan to list in the near or distant future, our preferred method is to set a budget for a few quick renovations or touch-ups, as well as to identify some priorities and address them accordingly. Calgary’s home buyers will notice and appreciate this extra effort!

Patrick Hospes and his team would be delighted to walk you around your home and advise you on what a potential buyer might like to see (or not see!) Many of these adjustments are simpler than you might believe; contact us right away!