Sellsius real estate marketing blog

As a Zillow board member, I am interested in your opinions.

Taz you are welcome to contribute to this blog under our Open Mike program:

http://tinyurl.com/326yu8

I think all owner should have the option to opt out of Zillows site. They call it public information yet when obvious errors are pointed out they do nothing to correct them.
This site is distructive and should not be allowed without homeowners permission, period.
It serves no useful purpose in todays housing market.
I am a Zillow board user and believe me there are many uphappy campers on those boards.

Nothing should have that much power, it is like that site is in control of the market.

Hi Andrew

Yes, but can a grossly inaccurate zestimate turn away a prospective buyer? If so, a seller should be able to have it removed.

Do you believe a homeowner should have the right to opt out of the zestimate? I think so.

BTW, how "educated" is a guess when no one visits the home? I'd say grade school level. If you take Zillow's word that's it's just a first step, then maybe that puts it in kindergarten :)

Wow! I had no idea that Zillow was causing such a controversy. They call it a "zestimate" for a reason. It's something of an educated guess about value. Everyone knows that real estate values can fluctuate wildly.

Brian

I'm not sure I understand where you're heading but any misinformation on Zillow ought to be removed without homeowners being required to "claim" a home*. It is not good for buyers or sellers. In any case, no 3rd party content should be attached to my home without my knowledge or consent.

*By claiming a home, the homeowner is (implicitly) accepting Z's Terms & Conditions-- meaning you live with what Zillow gives you-- wacky zestimates, 3rd party content, Q&A; (some rights still exist but it's harder to argue when you sign up for the site.) Still, these folks ought to have the right to change their mind and opt out of zillow.

It is funny how buyers in this Real Estate Market go to Zillow and base their purchasing timeline on Zillow’s pricing for an area. So will Zillow be held responsible when homes that would have been otherwise purchased go into foreclosure…etc? See where I’m headed.

Quote from David G, "As you probably know, the current market is extremely frustrating for many sellers and these desperate times certainly brings out the worst in some folks. It’s understandable".

What is not understandable is how "Z" knowingly distributes inaccurate information in their BStimates and then sweeps it under the carpet with disclaimers and saying that they are a media company. Visitors to the site are not looking for disclaimers to read they are looking for information and by providing them with inaccurate information you are doing the entire real estate community a disservice. Shame on you.

Daniel

Absolutely. But owners making the calls are one step closer. We shall see what happens if/when a suit is filed. My guess is Z would settle and do what the seller wants-- they couldn't risk a judgment.

David

Sorry to hear you have to work the weekends ... maybe you need to ask for a raise or "combat pay" :)

I do take slight offense to your statement that I am not constructive. I have always given suggestions on how zillow can improve-- the opt out, getting homeowner consent for Q&A;, no 3rd party 'for sale' signs-- really easy stuff, if you think about it...BUT Zillow never listens to me (well, maybe once, when I objected that Zillow public data was flawed-- later zillow did allow owners to correct it: (prior to that, owners could correct data but it would not be made public)

http://tinyurl.com/3mnwso

Notify Homeowners!

I agree with you that any owner who "claims" a home submits to the Terms of Use and must live with the Zillow rules (forget for a moment that owners are coaxed into "claiming" to oust 3rd party interlopers)-- but please consider the sellers whose homes get on zillow through 3rd parties they know nothing about---their homes become part of the zillow regime without their knowledge or consent simply by virtue of 3rd party content. This is any easy fix--- simply notify the homeowner. Easy. What possible reason would justify not informing the homeowner of 3rd party content attached to their homes? Please answer that one

If Zillow would truly think outside the box, they would be courting homeowners, who would then court their agents-- like selling toys to kids at christmas time: get the kids on your side and they sell the parents. Instead, Zillow plays it the same tired old way-- please the advertisers, please the agents. You want to be truly remarkable-- please the homeowners--make them your partners (Geez, I can't believe I am giving you this free advice. Barton won't get it anyway, he thinks it's all about the buyer from his Expedia days)

Re: Transparency and changing behavior

If you believe in transparency but the homeowner does not, the answer is not to force feed it to homeowners-- the answer is let them CHOOSE to be non-transparent and see that it doesn't work-- that they should embrace it like other Zillowists. Then the decision to be transparent becomes "theirs". That is how you change behavior. Instead, Zillow prefers to do it like a caveman-- beat the owner over the head and drag them kicking and screaming into web 2.0. Ouch.

Again, just one fella's opinion.

"I am more interested to know how Zillow has dealt or is dealing with these types of situations."

@Daniel - Zillow is a media company. With transparency as a lynchpin of our brand, we've realized that the the most important thing we can do is to allow users to publish their opinions, like these.

The bottom line on Zestimate complaints is that Zestimates are automated estimates. There are many other website that like Zillow, also publish free value estimates. But Zillow, as you know, is the only site of its kind that allows owners to publish corrections to their home's facts on the site and to have those corrections impact the estimate. And Zillow is the only site of its kind that publishes accuracy metrics. We make it clear on the site that a Zestimate is not an appraisal or a CMA and so ... these threats don't result in law suits but yes, some attempts to contact the company are more confrontational than others.

These Discussions have been public for a year; there's no news here. You'll find all Discussions about using Zillow here: http://www.zillow.com/forum/site/ViewCategory.h...

Many of the Discussions are not confrontational. We understand that Zestimate values are controversial. Whenever you publish an estimate of value, some people will want some of those estimates to be different. Totally understandable but most of those people understand that the Zestimate is an estimate (it's frankly, quite hard not to.) We do have to take legal threats and attempts to use the site to organize mass action seriously (yep, there is some crazy stuff!) and I will typically cc our GC on these threats.

On the positive side of this discussion, most of the public responses to these discussions are more constructive than Joe's. These threads will often result in good feedback for Zillow and good perspective for the homeowner. Like letters to the editor, it can often help users to merely raise their concerns publicly and it's often more constructive to have another Zillow user help a homeowner understand their Zestimate than it is for me to explain that "the Zestimate is a starting point, intended to assist you in your research." Our moderators do join some of these discussions but the primary goal of the Zillow Discussions forums is to have users help each other. Here's an example from yesterday; a seller says they'll pull their for sale posting from Zillow because they're frustrated with their Zestimate value. Before I found the thread ...

"McKylie" had responded;

"What mina and klarek are saying is that the Zestimates are supposed to be estimates only and Zillow does have some sort of disclaimer. I know that we can not stop some people from still taking them into account but there are other sites that do this as well - so what are you going to do??????"

and "Mark75NYC" had some tough love for the seller;

Zillow makes clear that its “Zestimates” are only possible starting points to consider when evaluating real estate. It sounds to me like you are simply venting your frustration -- over the plummeting value of your house and the lack of suckers/buyers willing to take it off your hands at an inflated price -- at Zillow. If your house is priced fairly, you will sell it soon. If not, that's your fault, not Zillow's."

Many of these rants have little detail about the homes whose Zestimate values are in question. Zestimate accuracy, like RE in general, is local and so where a moderator does get invloved we'll usually try get the details of the home in question and at least help the seller explain the Zestimate. We point out the value range or local Zestimate accuracy metrics. But more importantly, we try to help a seller understand their options for promoting their listing on Zillow.

IMO, the most important thing I can do in a conversation like this is to help the seller understand that they're allowing their Zestimate value to distract them from doing those things on Zillow and elsewhere that will help sell their home. And sometimes, even if it mean pulling their home on a competitors website, we'll do it so that the owner understands the ubiquity of and the variance in automated estimates. As you probably know, the current market is extremely frustrating for many sellers and these desperate times certainly brings out the worst in some folks. It's understandable. We try to help where we can. The Discussion forums on Zillow are a big part of that. Many of these sellers will go on to find other sellers and agents there that will talk help them through their sale and offer advice for better promoting their listing.

Again, there's no news here. Zillow Discussion is a vibrant real estate forum where transparency, community and information come first. Check it out; http://www.zillow.com/forum/site/Index.htm

@Joe - Waiting for the weekends is becoming so predictable, how about you mix it up a bit? I really needed the break today!

Interesting stuff. You know as well as I do, though, that CALLING a lawyer, and receiving a judgment in your favor are two very different things.

I am more interested to know how Zillow has dealt or is dealing with these types of situations.