Zillow cease and desist

By
Real Estate Agent with MavRealty

It seems like all one has to do is mention Zillow and an argument can break out.  Well here is more fuel for the fire.  The Arizona Board of Appraisal has issued two cease and desist letters to Zillow claiming that Zillow needs an appraiser license to offer its "zestimates" in Arizona.

Last October, the nonprofit National Community Reinvestment Coalition filed a complaint with the Federal Trade Commission alleging Zillow was intentionally misleading consumers and real estate professionals with its estimates.

Zillow states that they hope to engage the Arizona Board of Appraisal in a productive dialog.  Hmmm  It will be interesting to see where this leads.  We all know how far off base some of the zestimates can be.  And with the constantly changing market, is there really any better substitute for a Realtor prepared CMA. 

Now I know that may seem like self (or Realtor) promotion, but can a data service really supply the best info on a local basis?  Only someone on the ground doing the day to day work can provide the insight that a buyer or seller of real estate needs.   Sure Zillow may serve a purpose, but anyone who relies solely on a zestimate is sure to be surprised in the future.  That's where the Board's decision weighs heavily.  There may be a disclaimer on the site, but how many people pay attention to any disclaimer on any site?

It will be interesting to see where all this lands

Adam Tarr,ePro
Sharon Kotula, ABR
RE/MAX Excalibur
Scottsdale, AZ
www.WeAreAZRealEstate.com
480-483-3333
Your Phoenix Area Real Estate Source

Comments (2)

Scott Daniels Florida Real Estate 2.0. Agents Earn 100% Commission.
Florida List For Less Realty, Inc. Broker/Owner. - Cooper City, FL
We tell people that Zillow is 6 months behind the times!
Apr 13, 2007 11:33 AM
Anonymous
Shane - Apella

In a responce to a Bloodhound post about Zillow I stated that per USPAP and most states occupational code that Zillow may in fact be violating state consumer laws as proceived by the state occupational laws.  I was wondering when appraisal boards were going to enact on this view. 

Thank you for the post - I found it to be very informative.

Apr 14, 2007 06:31 AM
#2