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Answers (6)
- user29860
- Contributions:2
To Zillow CEO: I would think that with so much criticism of your "imperfect" estimating algorithm, you would find a better way instead of defending it. After all, isn't that what CEO's get the big bucks for?
- Tug of War
- Contributions:1947
The CEO of Zillow says...
"Regarding why we don't let owners opt their home out of Zestimates: we believe that providing home valuations, as imperfect as they might sometimes be, is in the public interest. Access to this type of information benefits the overall market, and frankly if real estate data including Zestimates had been more readily available in the 2003-2006 bubble era (which was pre-Zillow), perhaps we wouldn't be paying the price today in our overall economy. Information empowers people to make smarter decisions. This is true in every part of our economy, especially the ones where decisions are particularly important (e.g., health care, financial services, real estate). I truly believe that the real estate market is better off due to the information that Zillow provides."
(LINK)
You are part of a Public Service..
They are doing this for YOU..US..the good ol US of A! ...ain't we lucky?
"Regarding why we don't let owners opt their home out of Zestimates: we believe that providing home valuations, as imperfect as they might sometimes be, is in the public interest. Access to this type of information benefits the overall market, and frankly if real estate data including Zestimates had been more readily available in the 2003-2006 bubble era (which was pre-Zillow), perhaps we wouldn't be paying the price today in our overall economy. Information empowers people to make smarter decisions. This is true in every part of our economy, especially the ones where decisions are particularly important (e.g., health care, financial services, real estate). I truly believe that the real estate market is better off due to the information that Zillow provides."
(LINK)
You are part of a Public Service..
They are doing this for YOU..US..the good ol US of A! ...ain't we lucky?
- sunnyview
- Contributions:25127
"They argue a 1st Amenedment right to publish their inaccurate valuations."
It is Zillow's right to publish them as long as they are clear about their limitations, just like it is an agent's right to use the best advertising platform that they can for their clients property.
Agents control the listings and it is their right to vote with their feet if they feel that the Zestimate is detrimental to their marketing. I respect that.
It is Zillow's right to publish them as long as they are clear about their limitations, just like it is an agent's right to use the best advertising platform that they can for their clients property.
Agents control the listings and it is their right to vote with their feet if they feel that the Zestimate is detrimental to their marketing. I respect that.
@Sandra
It is outrageous that Zillow does not allow for correction or deletion of erroneous zestimates. Particularly as their record of accuracy is so poor in regard to rural or bespoke communities. They argue a 1st Amenedment right to publish their inaccurate valuations without any accountability for the consequences on homeowners when the valuations are substantially below market value and the ensuing chaos and confusion caused. It is time our Legislators woke up to the changes in technology and introduced some form of regulation to ensure fair play to the homeowner in such circumstances.
It is outrageous that Zillow does not allow for correction or deletion of erroneous zestimates. Particularly as their record of accuracy is so poor in regard to rural or bespoke communities. They argue a 1st Amenedment right to publish their inaccurate valuations without any accountability for the consequences on homeowners when the valuations are substantially below market value and the ensuing chaos and confusion caused. It is time our Legislators woke up to the changes in technology and introduced some form of regulation to ensure fair play to the homeowner in such circumstances.
- Sandra Hargett, "Sandra.Hargett"
- Contributions:11
Thanks for the info. and speedy response but we are in a rural area and the zestimates are totally wrong, we are a waterfront community so the land value is what we are typically selling and zestimates did not add that correctly, the major down side to Zillow. No worries though Trulia and Realtor don't make this something that the agent is not able to edit, Zillow should put more thought into that, markets are not something that can be controlled by an online zestimate, especially in our area. Hey, thanks again for your help. Enjoy your day!
- wetdawgs
- Contributions:26794
No, Zillow doesn't allow Zestimates to be removed. You can learn more about their philosophy in their FAQ "Can I remove my home from Zillow?"
As they can't be removed, it is useful to understand them fully as well as the value range so you can explain the Zestimate and value range to the seller as well of potential buyers.
As they can't be removed, it is useful to understand them fully as well as the value range so you can explain the Zestimate and value range to the seller as well of potential buyers.
Can I remove a zestimate?
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- 5.0/5.0
- (2 reviews)
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