Zestimate
For as long as it has existed, Zillow’s “Zestimate” has been something of a joke to real estate agents. Since the firm launched the Zestimate in 2006, the first conversation between potential sellers and listing agents often deals with the misconception that the Zestimate is anything more than a computer program’s Hail Mary that lands…
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Zillow made it clear this morning when it announced its new service for Zillow Offers clients, Zillow Homes, that it’s on its way toward having a hand in every part of the real estate transaction. The program essentially creates a brokerage within Zillow — an area of the real estate business the company long said…
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JP & Associates, a North Texas independent broker, becomes the first indie brokerage to offer agents and consumers an iBuyer interchange. But this time, the agent is in the drivers seat!
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Are Zestimates an invasion of privacy? Back in May, Zillow was sued by several flippers in Chicago who were annoyed that Zestimates were undervaluing their flips (likely because the system hadn’t caught up) and bringing in bottom feeders using Zestimates as holy writ on appraised value and therefore purchase price. In my May coverage, I…
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Real Estate aggregation and data website Zillow.com is in hot water in Illinois. Zillow has been successfully sued in the past for using photos without permission. They’ve been hauled to court over low Zestimate “appraisals” by sellers who’re listing well above the estimates. Even at the other end of the spectrum, they’ve been accused of…
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