Zillow Zillow.com Trulia.com Ruined My House Price
I listed my house with a local real estate agency and they posted it on the MLS, so it would get nationwide exposure. It was placed on Zillow and they have a bogus property estimate. In my case their estimate was over 50k lower than my asking price. They based their numbers on old outdated records and placed it at the same amount the house was listed on their site in 2007.
Since then, I've added a large shop, out buildings and renovated much of the house and put another 20k into the place making as much new as I could. Zillow didn't take any of this into consideration and doesn't even have a place where you can disclose additional buildings and improvements. They base their numbers on ecomomy, tax records and who knows what else.
Zillow is destroying the housing market and has most likely cost me sales. All I can do is put a disclaimer on their website stating as much. I would love the government to run them out of business.
3 Updates & Rebuttals
coast
United StatesProperty Value is a Matter of Opinion
#4Consumer Comment
Mon, March 04, 2019
There are several publications and online companies that post their opinions as to the market value of automobiles, boats, planes, antiques, rare books, rare coins, rare stamps, wine, electronics, appliances, silverware, rugs, jewelry, leather goods, pictures, hand tools, power tools, vinyl records and musical instruments. Their opinions as to the stated value of goods is protected by the First Amendment.
On August 23, 2017, a U.S. District Court judge in Illinois dismissed a proposed class action suit against Zillow for appraising real estate at prices below market levels. The judge agreed with Zillow’s claim that the First Amendment protected their Zestimates.
Poldie
Palmer,United States
First Admendment Not Unlimited
#4Author of original report
Mon, March 04, 2019
You can't yell fire in a crowded theater. There are limits to free speech. Causing someone harm, whether emotional through false slander or financially through deceipt shouldn't be tolerated or legal.
Zillow uses faulty information for their pricing and that hurts some people. There wouldn't be lawsuits against Zillow if this was just Free Speech.
coast
United StatesThe Bill of Rights
#4Consumer Comment
Fri, March 01, 2019
“I would love the government to run them out of business.”
Zillow’s business practice is to express its opinion as to the value of property.
It would be a clear violation of one’s constitutional rights if the government or any organization were able to put someone out of business for expressing their opinion.