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May 7, 2017

Zillow sued over 'sloppy' estimate

The home on Commons Drive - VHT Studios

Photo by VHT Studios - The home on Commons Drive

Read the full article here: http://www.chicagobusiness.com/realestate/20170502/CRED0701/170509969/zillow-sued-over-zestimate-by-glenview-homeowner

Ryan's take:

As a professional real estate agent, I can tell you that the Zestimate is flawed and often very wrong.  Zillow claims it has been improved to only have an 8% margin of error now.  The major problem with the zestimate or any "automated valuation" is it has no way of knowing factors that a trained Realtor knows, such as one side of the street being worth more because it has a view or doesn't back a main road.  A computer cannot tell the condition of the house, the upgrades and has no way of knowing how your home compares to other homes in the area.

If you really want to know what your home is worth, call me.  Don't rely on a flawed system such as the Zestimate or home value estimation from any website, including Redfin or Realtor.com

 

#Realtor #RealEstate #NoZillow #zillow #lawsuit #ClassAction

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