What Things Differentiate Zillow and Redfin?

Here are basic the differences between Redfin and Zillow you should know.

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Usually, one of the first times I’ll ever hear from someone is when they call wanting to know the value of their home. More often than not, these soon-to-be sellers mention estimates they got from Redfin and Zillow; they want to make sure they’re looking at the most accurate comps and that they know what’s been happening in their market over the past 30, 60, or 90 days.

The main difference between Zillow and Redfin is that Redfin works with a smaller number of homes—about 74 million compared to Zillow’s 110 million. However, of the 74 million homes that Redfin uses, one million are actually active on the market. Zillow may have a larger total pool of homes, but a smaller percentage of those homes are active on the market.

Redfin takes most of their listings right from the MLS.

 

Additionally, Redfin factors in the list price of properties on the market, whereas Zillow does not. Instead, Zillow will use the square footage, room count, and general tax information to figure out an average of sorts. Redfin takes most of their listings right from the MLS, which is the most accurate source. Their margin of error for estimates of value is roughly 1.77%, which is very low compared to Zillow; a couple of years ago, Zillows margin of error was around 7.9%, but they’ve managed to get that down to 4%.

Redfin and Zillow are great tools to use if you’re looking for a place to start, but I strongly recommend reaching out to a professional who has a lot of experience working with your local marketplace.

If you have any questions about your particular property, don’t hesitate to call, text, or email me. I’d be more than happy to help you.