Change is Good - Parts 1 and 2

By: Zillow Team, Zillow.com | January 16, 2007

Last week Zillow President Lloyd Frink sat on the opening panel at Inman Real Estate Connect NYC. Called "Change is Good," the panel also included Sherry Chris, COO of Coldwell Banker Real Estate Corp.; Richard Sommer, CEO of ZipRealty; and Glenn Goad, EVP at Network Communications, Inc. Brad Inman moderated the panel discussion.

To get this on YouTube we had to break it up into several segments — here are parts 1 and 2. We’ll upload the rest tomorrow.

Part 1 — YouTube Link

Part 2 — YouTube Link

Update: Due to interference with our sidebar, we kindly ask that you watch these videos over on YouTube.

Update 2: We uploaded the videos to Yahoo! Video and embedded them on this blog.

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Categories: Real Estate Industry, Zillow

Comments

2 Comments so far

Victor on February 2, 2007 7:28 am

Aparently, Zillow does not do their homework.

I reside in wellington florida, Zillow has decided to undervalue my property by 39K dollars.

Hey were do you get your information!

If you are not going to value my property correctly, please do not listed..in fact i have never given permission for your estimates.
I’m finding houses in the getto according to your Zestimates valued more than in my neighborhood.

I find it not only unprofesional but disturbing.

My house was just valued at 325k a bank did this, they know better.

903 lake wellington, wellington florida. valued at 325K
Please correct it!
David G from Zillow.com on February 2, 2007 7:52 am

Hi Victor, it’s David from Zillow,

I’m sorry you’re disappointed with your home’s Zestimate but I am happy for you that your bank gave you a figure you agree with.

Automated valuations are not an exact science. For that reason, we also publish a value range for each Zestimate on Zillow. The range for your home on Zillow is: $263,814 - $364,597 (see your home’s detail page). This range accounts for the uncertainty resulting from the fact that we have not actually visited your house. As you’ll notice, the maximum Zestimate value in the value range is well above the appraisal your bank did. If your bank did not physically inspect your property, you should note that their automated valuation process will be subject to a similar margin of error. An automated valuation is a good starting point when researching house values but is no substitute for an on-site appraisal performed by a local expert.

If you disagree with your home’s Zestimate on Zillow and would like to set the record straight publicly, please consider claiming your house and publishing your own estimate.

For more perspective on the accuracy of automated valuations and the value range, you might appreciate these blog posts:
http://www.zillowblog.com/zillow_blog/2006/05/home_in_the_ran.html
http://www.zillowblog.com/zillow_blog/2006/08/your_very_far_i.html