Zillow Plans to Add Home Search By Zestimate

Published by Joseph Ferrara (2) January 18th, 2009 in zillow. Comments

Apparently, Zillow is working on a search feature to let visitors do a home search and then sort the results by zestimate.

The question/suggestion was posted on Zillow on December 18, 2008:

zillow-question-zestimate

It drew this answer from Zillow CEO Rich Barton:

barton-answer

This should be interesting. Perhaps this feature will cause homeowners whose zestimates are inaccurate to claim their homes and attempt to correct them. After all, who wants to be at the end of the zestimate line?

Technorati Tags: zillow, zestimate, real estate search

jfsellsius

As I understand it, you'll do your normal price range search and get the normal results within your price range. Then you can sort those results by zestimate-- your results will be arranged according to hi-low or low-hi zestimates-- no results should fall off.

Not sure if there is a benefit to consumers unless consumers believe a high zestimate to list price ratio shows a bargain.

Manuel J Iraola

You perform your search but the results are always ordered by best deal based on the difference between the AVM and the list price. Even if you change the sort to price, then we will sort by price and then best deal. Granted you may encounter a few properties for which an AVM cannot be obtained, but when there are hundreds of properties that meet your serach criteria, the cream of the crop will flow to the top. And those consumers that find those first have an advantage.

Manuel J Iraola

If you would like to see a real estate search with ValueSearch already implemented go to Homekeys Search(http://serach.homekeys.net).
Homekeys has had ValueSearch before Zillow's web site went live. Homekeys listing search only works in Florida today but we have our own technology to drive the search.
If you want to see what Zillow will do, I invite you to visit Homekeys today.
How does this benefit the consumer? Send me an email at mjiraola@homekeys.net with your phone # and I will call you back.
Manuel J Iraola
CEO,Homekeys

jfsellsius

Thanks for sharing Manuel.

Ken Montville

So, let me get this straight.

I'm gonna be looking for a house between, say, $300,000 and $350,000 and the Seller's offered price will be in the range but the "Zestimate" may be much higher (or, gasp, lower). The Seller's house will fall outside of the search range even though it's clearly on the market within the search range.

How does this benefit the consumer, again?