Couple weeks ago, Zillow lowered my house price by $15000, today, they lower it again by $11000. I can never sell my house if they keep screwing my house price. My agent set my selling price and it is much higher than the Zillow price. Zillow has no idea about the quality of newer house and older house in this area. Builders are building low quality and very small house or condo now. Zillow should not just "guess" about the house price. ZIllow has no business about my house, I have not given them any permission to list my house or to estimate the value of my house. It is none of their business. It is VERY BAD. My agent said most agents do not like Zilliow at all. I hate Zillow.
The problem with Zillow and the nonsense Zestimates that it imposes on over 100 million homes is the fact that over 17% of Zestimates are more than 25% incorrect. If a typical home costs $240,000 that means that the Zestimate could be $60,000 wrong with a valuation of $180,000 published. An even bigger problem is that Zillow refuses to take responsibility for the accuracy of its Zestimates, and refuse ALL requests by homeowners to correct or delete these substantially inaccurate Zestimates.
The time has come for Zillow to be Regulated as it has demonstrated that it cannot be trusted to act in a fair minded way despite the misery and potential financial damage they they inflict on homeowners. As an absolute minimum there should be a DoNotZestimate website so that homeowners can opt out of Zillows nonsense in the same way as 'phone users can use DoNotCall to stop spam 'phone calls.
What Zillow relies on is that most homeowners make a handful of complaints then give up. The answer is NOT to give up but to persue your grievance with Zillow as the more people who do highlight their BS the more chance there is of getting the problem fixed.
I couldn't agree more! As a builder, there are so many factors that go into a home price, there is no way on God's green earth any 1 site can accurately price every home in America without doing a personal inspection. Even when you use comps, that is rarely accurate ! How in the world did this joke of a company ever get valued this high? A value of 3B????? Doubt it is worth a tenth of that.