Why can't Zillow show the properties they use to come up with their Zestimate?

I keep getting emails where people see the Zestimate that is lower than the list price and they want to know why it is priced too high. If Zillow is going to continue to show their Zestimate I wish they would show the houses or property used to come p with their price. Just like agents do when completing a CMA??
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February 25 2012 - Summer Shade
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Answers (1)

Zillow doesn't use "comps" at all.  It is not a "comp" method.  They model to all non-distressed "recently sold" ownership housing units in the vicinity, within the same county.  It is a "non-linear learning model method", not an "average", not a "CMA", and not "linear regression".

And besides, I didn't find a "link" or "listing" of each of the "comps" you used in any of your listings either.  Nor did I find your "tolerance range" for your CMA's posted.   Until you post your tolerance range for your "estimates" as Zillow does, your "list price" is "meaningless".

Zillow does provide links on each home details pages for "similar listings" and "similar recently sold", but those lists are created from the estimates, not vice versa.

If you want to find the "recently sold" in the area, you can use the "home search", with the "homes" link at the top of the page.
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February 25 2012
 
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