Zillow and the Zestimate…
Real estate professionals have been complaining about the inaccuracy of the Zestimate since Zillow created it.
How do you deal with buyers/sellers who look at Zillow as the oracle?
Did Zillow use its Zestimates when determining what to pay for properties under its “IBuyer Program?”
Homebuyers and sellers: What the Zillow fiasco can teach you about property pricing:
Problems with the company’s estimates forced it to shut down its home-buying business and lay off a quarter of its staff. Zillow stock plunged 80% from its peak value.
Here’s why it was so hard for Zillow to accurately predict home prices and what you can learn for when you buy, sell or refinance.