Zillow CEO Spencer Rascoff sold home for much less than Zestimate

Clients putting Zestimates on a pedestal? Point them toward this sale

Key Takeaways

• Agents can demonstrate the Zestimate’s shortcomings by showing the discrepancy between the sales price of a home formerly owned by Zilow CEO Spencer Rascoff and its Zestimates.
• Luxury home Zestimates are more likely to be off than others due to ‘non-quantifiable facts.’
• Irregular lot sizes or proximity to ‘arterial’ roads can sometimes throw off Zestimates.

“Zillow readily acknowledges that Zestimates can be inaccurate, but some consumers can still take them at face value, causing headaches for agents.”