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Zillow Vs Redfin: Yes It Is An "appraisal"__no, It Is Not An "appraisal"

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Julio E. Sune Jr. (FL)

Senior Member
Joined
Jan 16, 2002
Professional Status
Certified Residential Appraiser
State
Florida
Zillow vs. RedFin: Which home appraisals are less wrong?

http://www.floridarealtors.org/NewsAndEvents/article.cfm?p=2&id=352595

"The home appraisal tool has recently come under fire amid multiple lawsuits from home sellers, claiming that its inaccuracy was costing them money".

"Both companies are committed to delivering the most accurate tool to appraise properties and continue to improve the technology".
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
Velly intellesting...
Strand was referencing a third-party study conducted by SSRS earlier in the year that stated in over 5,000 home sales evaluated, 64 percent sold within 3 percent of the price predicated by Redfin, compared to 29 percent for Zillow.

"Our findings are clear: Redfin performed significantly better than Zillow and Homes.com at predicting home-sale prices," said Dr. Aniruddha Banerjee, SSRS's senior vice president of advanced analytics. "We hope that others attempt to replicate our results.​
 

Mike Kennedy

Elite Member
Joined
Sep 28, 2003
Professional Status
Certified Residential Appraiser
State
New York
Zillow vs. RedFin: Which home E-VALUATIONS are less wrong?

http://www.floridarealtors.org/NewsAndEvents/article.cfm?p=2&id=352595

"The homeE-valuation tool has recently come under fire amid multiple lawsuits from home sellers, claiming that its inaccuracy was costing them money".

"Both companies are committed to delivering the most accurate tool to E-valuate properties and continue to improve the technology".

fixed it for 'em.
 

CindyR

Senior Member
Joined
Oct 26, 2003
Professional Status
Certified Residential Appraiser
State
Arizona
Hmmmm, Maybe zillow and redfin can't really do appraisals until they figure out how to include the bulls eye for them to aim for .... (don't get excited - this is a joke for mike)
 

AMF13

Elite Member
Joined
Jan 24, 2002
Professional Status
Certified Residential Appraiser
State
California
Whose guestimate is farther off base? :leeann:
 

Terrel L. Shields

Elite Member
Gold Supporting Member
Joined
May 2, 2002
Professional Status
Certified General Appraiser
State
Arkansas
Their motto is "we aren't any worse than the competition."
 
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