I read today that Zillow Company is making available on line free estimates of a homes value. It is completely anonymous and it is free. All you have to do is enter some basic information about your house and push a button, and up pops the value of your home.

Now I am wondering what is wrong with me!! After 25+ years in the business I still find myself agonizing about the value to place on a residence. I tour the home to see its condition and floor plan. I study the comps… homes in the same neighborhood and with similar characteristics that have recently sold.  I sometimes even brainstorm with other agents to get their opinion before finalizing mine. And, I am not alone. Most of the truly professional agents I know do the same thing. Now along comes a company that can do in seconds, without ever even seeing the house, what it may take me hours or days to accomplish.

Zillow chairman, Rich Barton, has said Until now, finding out a current market value of any home – whether its yours or the one your want to bid on – has been quite difficult. Duh? I have breaking news. It still is!!

Pricing a home is one of the most critical components whether you are on the buying or the selling side. In my mind it is dangerous and naïve to believe that a computer generated valuation will generate anything more than a general ballpark figure, with a wide margin or error.  It may be a useful starting point, but I would not want to bank on its accuracy. For that you need an experienced agent who knows the area, who can sift though all the variables, and who can come up with a figure that is accurate to within just a few percentage points. Anything less than that will cost you!

For more information go to:

http://www.rismedia.com/index.php/article/articleview/13419/1/1/ or visit www.zillow.com and try it for yourself. If it works, it will make my job a whole lot easier!