Here’s why Zillow’s iBuyer program was doomed to fail from the start.



Zillow has been in the news a lot recently. We want to thank everyone who sent us the Zillow news articles and shared your opinions. It was certainly big news for the real estate industry when they decided to cancel one of their most popular services.


The big news is that Zillow is canceling their iBuying program due to a lack of results. One of the reasons this program failed is because their pricing model, based on the site’s Zestimates, does not work. Over the years, both buyers and sellers have brought up a home’s Zestimate to me to back up a price on a home. We have had many conversations with them as to why Zestimates don’t work.


The bottom line is that real estate is hyper-local. Zillow can’t see inside your home to learn about any improvements or shortfalls. They don’t know what is happening in your town or neighborhood. 



"Regardless of where you are, working with a local professional is important."



We hope the takeaway for all homeowners and prospective homeowners throughout the U.S. is that there is a difference between trusting and speaking with a local real estate professional and using any of the out-of-state real estate listing portals. A reputable local team like ours has their finger on the pulse of their service area, the latest local data, and reviews real estate statistics daily.


Regardless of where you are, find a local real estate company, use their website, and develop a relationship with a licensed agent to help you buy or sell a home. If you don’t know an agent where you are, just let us know, and we can use our national network to connect you to someone who is. 


We would love to be your Maine real estate resource. Don’t hesitate to reach out via phone or email with any questions you might have. We are always here to help.