The debate over valuation of homes. Zillow has grown to be an extremely popular website. Although the Zestimate of value that they show can have a wide margin of error. By the admittance of their own website, the Zestimate "Our data shows us that the vast majority of Zestimates are within 10 percent of the selling price of the home.". Most people can't afford to be off by 10%!!!
If you are interested in seeing a debate between Zillow president, Lloyd Frink, and RISMEDIA CEO Allan Dalton in regards to the issues facing valuation and the use of real estate professionals, I encourage you to visit the California Association of Realtors to see their debate.
Friday, November 03, 2006
Your 10% matters!
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1 comments:
I read an excellent analysis regarding the "MLS mess" in the new 2007 Swanepoel Trends Report. I have also seen several posts about Zillow's lack of accuracy in their "zestimates". What do you think? Is Zillow capable of replacing MLS or is Zillow a new national MLS?
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