Comments on: Zillow.com Told to Stop Issuing Home Value Estimates in Arizona

By: Ron Asteak

Ron Asteak — Sat, 11 Aug 2007 03:23:32 +0000

Zillow “Guess-Idiots” appear to rely on public tax records that in some cases haven’t been updated in twenty-five years. The zestimator is a sketchy tool to rely on. I believe it’s best to use a Professional Realtor when appraising property.

By: berealct

berealct — Wed, 18 Apr 2007 20:23:40 +0000

You’re right – I haven’t heard too many appraisers talking about Zillow. I think because they are typically hired by the bank, they don’t have to justify themselves to the general public.

By: Sock Puppet

Sock Puppet — Wed, 18 Apr 2007 19:28:11 +0000

Well this is a fine how do you do isn’t it. Zillow has never claimed to be an appraisal and is steadfastly claiming it is nothing but an Automated Valuation Model (AVM) as defined at http://commerce.appraisalfoundation.org/html/2006%20USPAP/ao18.htm

Also Zillow isn’t charging for it’s zestimates so their seems to be a gap between a free AVM and a paid appraisal.

If there is a public disconnect between thinking a free AVM is a paid appraisal, isn’t that a statement on how shockingly poor appraisers public relations and education is. In fact considering AZ appraisers are acting like ZIllow is an actual threat to their jobs, it likely only underscores the idea in the publics mind that Zillow is in fact an accurate appraisal.

If Zillow has to stop providing zestimates, then so should ALL online AVM providers. Which is currently every major brokerage in some form or another.

Maybe I need to read more widely, but I’m not hearing much of a defense from appraisers to the value they bring to a transaction.