Friday, August 10, 2018 / by Vanessa Saunders
We've written in the past about Zillow and the problems it has with its Zestimates of home sale listings. (We even caught it listing the White House for sale, which we thought was hilarious until we remembered that it's inhabited buy a guy in commercial real estate.)
Recently, Zillow was caught using listing prices to tweak seriously off-the-mark estimates., something it said it never did. But in a story in Inman News recently, Zillow confessed that they have used listing prices in certain circumstances.The story details how Sacramento appraiser Ryan Lundquist noticed homes Zestimated at one price, which magically changed when the property appeared at a price divergent from Zillow's.
Since then Zillow has been trying to fix the automated estimate algorithyms by publishing warnings with a robot icon when listings are priced differently than Zillow estimates. The warning, accompanied by the cute but broken robot icon says, "“The list price and Zestimate for this home are very different, so we might be missing something.”
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