Barbara Anderson, a Glenview, Illinois homeowner has filed suit against Zillow over use of its Zestimate. Anderson, who recently had a townhome for sale, alleges that Zillow’s Zestimate has impaired the marketability of the sale of her home. Taking up an opinion that many others have put forth, she claims Zillow’s Zestimate constitutes the unlicensed practice of real estate appraising, and on top it all it doesn’t do a very good job! Many people in the biz agree with her, especially about the quality of the product.
Many home buyers turn to Zillow for information about homes for sale. Included in that is a Zestimate or estimate of market value. It is a ready tool and 
easily understood on the surface. However, Realtors and mortgage lenders get tired of explaining to home buyers the many flaws with the Zestimate and find it causes some home buyers to pass on looking at homes that might just work for them (all because of a flawed Zestimate). Count me in that group. I have no use for the product. It’s flaws out number its’ benefits. I hope she wins.
If you’re shopping for a new home and want more personalized and accurate insight into the market value of homes for sale, give me a call. I work harder to make good things happen!
