• Welcome to AppraisersForum.com, the premier online community for the discussion of real estate appraisal. Register a free account to be able to post and unlock additional forums and features.

Should Zillow Need Appraisal License?

Status
Not open for further replies.
I attribute the drop off in my volume of appraisal orders for Divorce, Estates, bankruptcy, etc. to Zillow and its fellow web sites. A lawyer recently told me that he always uses the "free" services instead of paying for a "paper" appraisal. Since the public seems to consider Zillow's product as the equal to an appraiser's product it seems logical That Zillow be licensed and regulated the same way that appraisers are.
 
"I think Danny is saying "Opinion" cannot be "accurate" nor "inaccurate". It is opinion after all. "

But they continue to pay us to try our best, and give as accurate of an opinion as possible.
Sorry Danny but I don't feel like getting into a big battle this morning about semantics...
 
Fake listing scam still going strong

"Received a very alarming call this morning from a girl that was getting ready to send cash to someone for keys for a rental she found on Zillow/Trulia," Heartland Real Estate Agent Dawn Dell posted Tuesday on Facebook. "This is my listing, currently active, and the sellers are not interested in renting."
Click to expand...
In this case, the scammers – who Dell said are sophisticated – posted on Zillow.
Click to expand...

Zillow, Truilla et al will post just about anything found in public records or elsewhere. Without even a smidgen of research, verification or vetting.

http://www.floridarealtors.org/NewsAndEvents/article.cfm?p=1&id=351660



 
miktay said:
"I think Danny is saying "Opinion" cannot be "accurate" nor "inaccurate". It is opinion after all. "

But they continue to pay us to try our best, and give as accurate of an opinion as possible.
Sorry Danny but I don't feel like getting into a big battle this morning about semantics...
Click to expand...
What you dismiss as semantics is actually the crux of the discussion when it comes to automated systems vs a professional appraiser. An appraisal is, by definition, an opinion. Opinions are neither accurate nor inaccurate, but they may be credible.

Fortunately, some still realize the value of that credibility, and, hence, the appraisal profession still exists :)
 
Zillow and any other AVMs problem is their inherent "crap in crap out" data scouring. Whatever method they are using does a poor job when any parameters beyond Date of Sale, Age, GLA, and Site size show any variance. 4 of the 24 line items of the typical 1004 form will never be adequate to replace an appraisal by a professional appraiser. But even a blind squirrel finds a nut every once in a while and certainly in areas of seriously homogeneous housing where the other 20 lines are reasonably similar makes it more reliable, accurate or plausible or whichever term you choose to use.
 
DWiley said:
What you dismiss as semantics is actually the crux of the discussion when it comes to automated systems vs a professional appraiser. An appraisal is, by definition, an opinion. Opinions are neither accurate nor inaccurate, but they may be credible.

Fortunately, some still realize the value of that credibility, and, hence, the appraisal profession still exists :)
Click to expand...

My sincerest apologies for my error. I will work hard at not making the same mistake again. Have a nice day.
 
Arizona Board of Appraisal lost a lawsuit baring Zillow from doing appraisals in AZ
 
Status
Not open for further replies.
Find a Real Estate Appraiser - Enter Zip Code

Copyright © 2000-, AppraisersForum.com, All Rights Reserved
AppraisersForum.com is proudly hosted by the folks at AppraiserSites.com
Back
Top