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Zillow, Inc. Message Board

  • surbiton99 surbiton99 Jan 17, 2013 10:24 PM Flag

    FAA grounds Boeing Dreamliner but what about a Regulator to stop nonsense Zestimates by Zillow?

    What the FAA have done is demonstrate the importance of a proper regulatory environment to stop commercial organizations abusing consumers. Following a number of safety incidents with the 787 Dreamliner the FAA did the right thing by grounding the aircraft until Boeing engineers develop a satisfactory fix to the battery problems.

    Put that in the context of a totally unregulated business like Zillow which generates 110 million automatically generated home valuations called Zestimates on US homes as proudly publishes a median error rate of 8.4% so that almost 10 million homes are erroneously valued. Not only was the Zillow algorithm developed by a team who had no prior real estate business, and it imports zillions of bits of raw data, which poor configuration control by Zillow causes millions of errors in the zestimates produced - garbage in garbage out.

    So in the circumstances one would expect Zillow to be consumer oriented and correct seriously inaccurate zestimates when requested to do so by the homeowner. Not with Zillow however, who REFUSE all reasonable requests by homeowners to correct their nonsense valuations imposed without permission on private property. In my personal experience Zillow behave like Nazis and dismiss all requests stating a First Amendment Right to publish whatever valuation they want.

    It is time that our legislators implemented a regulatory framework over AVM companies like Zillow to stop them abusing property owners the way they do currently. Zillows flawed algorithm is causing serious financial damage and misery to 10 million homeowners and it was time that the Zillow 'nightmare' is grounded just like the FAA grounded the Boeing 'dreamliner'.

 
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