Zillow


THERE IS A GOOD SUPPLY OF HUMAN DONOR SKIN IT IS MORE LIKE IT WILL BE USED IN COUNTRIES LIKE BRAZIL. THE POPULAR REAL ESTATE SITE ZILLOW IS UNDER FIRE OVER CLAIMS IT PROVIDES BAD INFORMATION. IT WAS SLAMMED WITH A CLASS- ACTION LAWSUIT SAYING THEIR VALUATIONS ARE WAY OFF. JOHN ROGERS JOINS US LIVE MAC FROM SARASOTA TO EXPLAIN. THIS IS A PRETTY POPULAR APP. Reporter: IT CERTAINLY HAS. THE STORY GOES TO SHOW IF YOU’RE BUYING OR SELLING A HOME, IT PAYS TO DO YOUR HOMEWORK. Reporter: YOU GUYS HAVE DONE A LOT OF WORK ON THIS HOUSE. YES WE HAVE. Reporter: THEY WERE RECENTLY SEARCHING FOR THE FIRST HOME AND USED A POPULAR REAL ESTATE SITE, ZILLOW. SUSPECTED YOU PUT A LOT OF FAITH IN ZILLOW. NO. Reporter: THE WEBSITE PROVIDES’S ESTIMATES. THE PRICES WERE ALL OVER THE PLACE. YOU WOULD LOOK AT ONE HOUSE AND ANOTHER HOUSE AND ANOTHER HOUSE THAT WAS SIMILAR IN SIZE IN THE PRICES WOULD BE DIFFERENT. THEY TREAT THESE ZESTIMATE AS ACTUAL APPRAISALS. Reporter: THE COMPANY IS NOW FACING A CLASS-ACTION LAWSUIT THAT CLAIM THESE ZESTIMATE’S ARE HURTING THE REAL ESTATE MARKET AND THE COMPANY SHOULD NOT BE DOING APPRAISALS WITHOUT A LICENSE. ZILLOW PROVIDED A STATEMENT SAYING WE BELIEVE THESE CASES ARE WITHOUT MERIT. WE BELIEVE THE ZESTIMATE IS AN INITIAL STARTING POINT AND IS NOT AN APPRAISAL. CONSUMERS SHOULD DO MORE ON THEIR OWN TO FIGURE OUT WHAT THE VALUE IS. Reporter: BUYERS AND SELLERS SHOULD USE PROPERTY RECORDS AND PROPERTY APPRAISAL WEBSITES. IT WOULD ALSO HELP TO USE THE SERVICES OF A REALTOR. DO YOUR HOMEWORK, RELY ON YOUR REAL ESTATE AGENT AND REMEMBER IT IS AN EMOTIONAL SALE. REMEMBER AT THE END OF THE DAY THE BUYER WILL DICTATE THE PROPERTY. Reporter: THEY SAY ZILLOW SHOULD BE USED SPARINGLY. DON’T GET TOO HUNG UP ON WHAT THE PRICES ARE BECAUSE I DON’T THINK IT WILL BE TO — TO RELIABLE. Reporter: ZILLOW IS OFFERING A $1 MILLION PRIZE TO ANYONE THAT CAN IMPROVE THEIR ALGORITHM SO THAT THE ZESTIMATES ARE MORE ACCURATE. THEY EMPHASIZE IT HAS NOTHING

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