Comments on: Redfin and Zillow: Stats of a Feather http://blog.sellsiusrealestate.com/zillow/redfin-and-zillow-stats-of-a-feather/2007/03/01/ Fri, 21 Nov 2008 01:18:48 +0000 http://wordpress.org/?v=2.3 By: Homes in Eugene Oregon http://blog.sellsiusrealestate.com/zillow/redfin-and-zillow-stats-of-a-feather/2007/03/01/#comment-174749 Homes in Eugene Oregon Thu, 03 Jan 2008 22:43:03 +0000 http://blog.sellsiusrealestate.com/zillow/redfin-and-zillow-stats-of-a-feather/2007/03/01/#comment-174749 I've actually sold one of my clients homes through Zillow. He was researching his homes value and it just so happened to be that my listing was a couple blocks away from his home. He called me up and we had a transaction in play within a week. Thanks Zillow. I’ve actually sold one of my clients homes through Zillow. He was researching his homes value and it just so happened to be that my listing was a couple blocks away from his home. He called me up and we had a transaction in play within a week. Thanks Zillow.

]]> By: Zillow Needs More Money and Gets It http://blog.sellsiusrealestate.com/zillow/redfin-and-zillow-stats-of-a-feather/2007/03/01/#comment-127756 Zillow Needs More Money and Gets It Sat, 22 Sep 2007 07:59:25 +0000 http://blog.sellsiusrealestate.com/zillow/redfin-and-zillow-stats-of-a-feather/2007/03/01/#comment-127756 [...] Did Zillow Actually Listen To Sellsius? Discrimination by Zestimation: The Law of Unintended Consequences Has Zillow Spiked the Google Juice? Is Zillow Betaproof? I See, Said the Blind Man to the Deaf Lady Mining The Elusive Unzillowable Realtor.com v. Zillow Video Realtor’s Allan Dalton calls Zillow Carnival Act Sellsius Conversation with NCRC The Truth Is: Zillow has a Right To Exist Unzestimate My Home: Will Zillow Let Owner’s Opt Out? Unzillowable, To Coin A Phrase Will Listing Your Home Above the Zestimate Turn Away Buyers? World’s First “Unzillowable” Listing Z-Day: Z for Zendetta Zillow Confesses… Zillow, Dem’s Fightin’ Words Zillow Housing Reports: The Statistical Lie of Estimated Truth Zillow’s Real Prey: It’s Not Brokers Zillow: Truth by Association Zillow Ultimate Poll Zillow Poll Results Zillow Zapped with FTC Complaint Zoophole: Only Humans Have to Post Conspicuous Disclaimers Will Zillow Let Listing Owners Opt-out now? Zillow Doubt Why Arizona Went After Zillow Zillow Bans Unzillowable Ad The Power of Print: Perception as Truth Comment of the Day Is Zillow Using Our Homes as Bait? Zillow Tales: Where do you want to Start? Property Shark in Zillow Waters Dear Arizona: Zillow May be a Dog, But it is not a Poodle Is Zillow Q&A Lookie Loo Heaven or Lisitng Agent Hell? The Human Listing Site: Zillowfying Your Privacy Under the Guise of Transparency Redfin & Zillow: Stats of a Feather [...] […] Did Zillow Actually Listen To Sellsius? Discrimination by Zestimation: The Law of Unintended Consequences Has Zillow Spiked the Google Juice? Is Zillow Betaproof? I See, Said the Blind Man to the Deaf Lady Mining The Elusive Unzillowable Realtor.com v. Zillow Video Realtor’s Allan Dalton calls Zillow Carnival Act Sellsius Conversation with NCRC The Truth Is: Zillow has a Right To Exist Unzestimate My Home: Will Zillow Let Owner’s Opt Out? Unzillowable, To Coin A Phrase Will Listing Your Home Above the Zestimate Turn Away Buyers? World’s First “Unzillowable” Listing Z-Day: Z for Zendetta Zillow Confesses… Zillow, Dem’s Fightin’ Words Zillow Housing Reports: The Statistical Lie of Estimated Truth Zillow’s Real Prey: It’s Not Brokers Zillow: Truth by Association Zillow Ultimate Poll Zillow Poll Results Zillow Zapped with FTC Complaint Zoophole: Only Humans Have to Post Conspicuous Disclaimers Will Zillow Let Listing Owners Opt-out now? Zillow Doubt Why Arizona Went After Zillow Zillow Bans Unzillowable Ad The Power of Print: Perception as Truth Comment of the Day Is Zillow Using Our Homes as Bait? Zillow Tales: Where do you want to Start? Property Shark in Zillow Waters Dear Arizona: Zillow May be a Dog, But it is not a Poodle Is Zillow Q&A Lookie Loo Heaven or Lisitng Agent Hell? The Human Listing Site: Zillowfying Your Privacy Under the Guise of Transparency Redfin & Zillow: Stats of a Feather […]

]]> By: Danilo Bogdanovic http://blog.sellsiusrealestate.com/zillow/redfin-and-zillow-stats-of-a-feather/2007/03/01/#comment-69311 Danilo Bogdanovic Tue, 06 Mar 2007 16:14:27 +0000 http://blog.sellsiusrealestate.com/zillow/redfin-and-zillow-stats-of-a-feather/2007/03/01/#comment-69311 Great post and I'm right there with you. I did a post a while back on the accuracy of Zillow and other AVMs followed up by an update post just a short while ago. David from Zillow left a few comments on my posts saying that my conclusions were incorrect and that the median margin of error was 7.8% rather than what I had concluded. But the data I had (which was supplied by Zillow itself) clearly showed otherwise. Seems that they're pulling these numbers out of thin air and that they think the public is too dumb to see otherwise after reviewing the true data. Great post and I’m right there with you. I did a post a while back on the accuracy of Zillow and other AVMs followed up by an update post just a short while ago.

David from Zillow left a few comments on my posts saying that my conclusions were incorrect and that the median margin of error was 7.8% rather than what I had concluded. But the data I had (which was supplied by Zillow itself) clearly showed otherwise.

Seems that they’re pulling these numbers out of thin air and that they think the public is too dumb to see otherwise after reviewing the true data.

]]> By: sellsius° http://blog.sellsiusrealestate.com/zillow/redfin-and-zillow-stats-of-a-feather/2007/03/01/#comment-68636 sellsius° Sun, 04 Mar 2007 02:41:58 +0000 http://blog.sellsiusrealestate.com/zillow/redfin-and-zillow-stats-of-a-feather/2007/03/01/#comment-68636 Good question Michael. It depends on what you want to know. Good question Michael. It depends on what you want to know.

]]> By: Michael Daly http://blog.sellsiusrealestate.com/zillow/redfin-and-zillow-stats-of-a-feather/2007/03/01/#comment-68633 Michael Daly Sun, 04 Mar 2007 02:27:27 +0000 http://blog.sellsiusrealestate.com/zillow/redfin-and-zillow-stats-of-a-feather/2007/03/01/#comment-68633 So - where do we get reliable information and statistics? So - where do we get reliable information and statistics?

]]> By: sellsius° http://blog.sellsiusrealestate.com/zillow/redfin-and-zillow-stats-of-a-feather/2007/03/01/#comment-68620 sellsius° Sun, 04 Mar 2007 00:56:42 +0000 http://blog.sellsiusrealestate.com/zillow/redfin-and-zillow-stats-of-a-feather/2007/03/01/#comment-68620 The statisticians' bag of tricks never fails to amuse us. Company averages do not indicate the ability of a particular agent to save you money on a particular home. We have used the example of zillow. Just because the median error rate is 7.5% is no reason to rely on a zestimate on a particular home. The forest is not the tree. The statisticians’ bag of tricks never fails to amuse us.
Company averages do not indicate the ability of a particular agent to save you money on a particular home. We have used the example of zillow. Just because the median error rate is 7.5% is no reason to rely on a zestimate on a particular home. The forest is not the tree.

]]> By: Kevin Boer http://blog.sellsiusrealestate.com/zillow/redfin-and-zillow-stats-of-a-feather/2007/03/01/#comment-68608 Kevin Boer Sat, 03 Mar 2007 23:21:58 +0000 http://blog.sellsiusrealestate.com/zillow/redfin-and-zillow-stats-of-a-feather/2007/03/01/#comment-68608 As somebody who takes great delight in crunching numbers, let me say that for the entertainment value, it's a lot of fun. Tell me what outcome you want, and I can probably find you a data set and a methodology that will prove my point. Republicans tout the stats that show the tax cuts over the recent years have gone disproportionately to the middle class; Democrats tout the stats that show these same tax cuts have overwhelmingly benefited the rich. They're both right. As somebody who takes great delight in crunching numbers, let me say that for the entertainment value, it’s a lot of fun. Tell me what outcome you want, and I can probably find you a data set and a methodology that will prove my point.

Republicans tout the stats that show the tax cuts over the recent years have gone disproportionately to the middle class; Democrats tout the stats that show these same tax cuts have overwhelmingly benefited the rich.

They’re both right.

]]> By: Realivent Real Estate Technology Blog » Blog Archive » All the real estate flunkies are silent http://blog.sellsiusrealestate.com/zillow/redfin-and-zillow-stats-of-a-feather/2007/03/01/#comment-68458 Realivent Real Estate Technology Blog » Blog Archive » All the real estate flunkies are silent Sat, 03 Mar 2007 11:05:44 +0000 http://blog.sellsiusrealestate.com/zillow/redfin-and-zillow-stats-of-a-feather/2007/03/01/#comment-68458 [...] Sellsius Redfin and Zillow: Stats of a Feather [...] […] Sellsius Redfin and Zillow: Stats of a Feather […]

]]> By: sellsius° http://blog.sellsiusrealestate.com/zillow/redfin-and-zillow-stats-of-a-feather/2007/03/01/#comment-68236 sellsius° Fri, 02 Mar 2007 18:31:39 +0000 http://blog.sellsiusrealestate.com/zillow/redfin-and-zillow-stats-of-a-feather/2007/03/01/#comment-68236 Thanks Mark. It's always great to hear from an expert on these matters. Thanks Mark. It’s always great to hear from an expert on these matters.

]]> By: Mark Brandemuehl http://blog.sellsiusrealestate.com/zillow/redfin-and-zillow-stats-of-a-feather/2007/03/01/#comment-68230 Mark Brandemuehl Fri, 02 Mar 2007 17:26:37 +0000 http://blog.sellsiusrealestate.com/zillow/redfin-and-zillow-stats-of-a-feather/2007/03/01/#comment-68230 Since I'm a stats junky who hates it when the media jumps all over the latest study that shows cancer risk going up by 10% (from a 0.01% chance of getting that particular cancer to a 0.011% chance...), I have to comment. It seems to me that independent of what you're measuring. a 1 percentage point difference between two means, especially when one distribution is a small number of samples (Redfin's sales) and one is large (overall market) means nothing unless you have done a statistical test for significance to determine the probability that the two distributions are really different. I'll bet the significance of the difference is pretty low - in other words a serious statistician would dismiss this difference as meaningless. In my opinion, reasonable (though somewhat dishonest) marketing, complete junk stats. Cheers, Mark B. VP Marketing at Movoto.com Since I’m a stats junky who hates it when the media jumps all over the latest study that shows cancer risk going up by 10% (from a 0.01% chance of getting that particular cancer to a 0.011% chance…), I have to comment.

It seems to me that independent of what you’re measuring. a 1 percentage point difference between two means, especially when one distribution is a small number of samples (Redfin’s sales) and one is large (overall market) means nothing unless you have done a statistical test for significance to determine the probability that the two distributions are really different. I’ll bet the significance of the difference is pretty low - in other words a serious statistician would dismiss this difference as meaningless.

In my opinion, reasonable (though somewhat dishonest) marketing, complete junk stats.

Cheers,

Mark B.
VP Marketing at Movoto.com

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