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October 31, 2006

Comments

David G from Zillow.com

Hi, it's David G from Zillow,

FYI - our president has discussed the NCRC's letter to the FTC on our blog:
http://www.zillowblog.com/zillow_blog/2006/10/zestimate_accur.html

I wanted to address your comments about the impact raw data has on our accuracy:

Because public property records can be incomplete and incorrect, we now allow homeowners to update and publish their own facts on Zillow.com -- and to also recalculate estimates based on this data which can also be shared publicly on the site, next to Zillow's starting point.

Accuracy is important to us and we continue to improve in that area -- but equally important is educating homeowners that their Zestimate is just a starting point. Zillow.com is a research tool and is not intended to replace a local expert. We actually think Zillow's a great place for consumers to engage an expert and are therefore bullish about the future of our ad-driven business model.

GuyFromConnecticut

I don't understand how Zillow can blame errors on incorrect or incomplete public records. In many cases the charted "value" of a house does not even pass through actual sales points.

On the date my house sold for $810,000 the Zillow estimate is nearly $100,000 high. How can they be so wrong on an actual sale date. (and no, there was nothing strange about the sale).

I have seen this error repeated on other houses.

I am not sure what their game is, but accuracey doesn't seem to be it. Cool idea though.

Anon

A month ago, zillow had the correct square footage for my house. Today, the Zestimate has gone up but the square footage is now 400feet less. Amazingly inaccurate. It also says my house is now a brick house(guess that's why the estimate went up!).

So they made the data worse? And I'm supposed to correct this? You know buyers will use this against buying my house. I think they had the about-face and let user-entry to fend off possible lawsuits. I mean their data is dead wrong. And they updated good data with bad data.

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