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Updated almost 12 years ago, 01/08/2013
Explaining to New Investors Why "Comps" From Trulia & Zillow are Not Reliable
As the topic states, sometimes when I speak with individuals new to real estate they will often site Trulia and or zillow to pull comps.
Thats not for a general estimate mind you, but for actual comps for the subject property.
How do you explain that such sources are less reliable than the MLS? To my knowledge, trulia/zillow use some sort of algorithm that aggregates prices. In other words, its decent for a "ball park estimate" but for specific comps its no good.