Zillow Takes Step Towards Democratizing Home Prices

Starting today, Zillow is allowing its users to get their say in what homes are worth by allowing them to enter their own price estimates alongside the site’s proprietary Zestimates. Apparently the move was in response to feedback from the users of the site.

I’ve heard much debate about the accuracy of the Zestimates, both online and off, and I believe that this is a good move for the company. The addition of a new set of “Owner Tools” allows property owners to confirm ownership, edit their home facts, and lastly, create a price estimate and make it public. As public records aren’t always accurate or up-to-date, allowing owners to share information about remodeling work or simply correcting inaccuracies will help to improve the usefulness of the site — something we were hoping for back in April - see post: Top 7 Coolest Real Estate Web 2.0 Sites.

As many of you know already, we partnered with Zillow a few months back to provide their Zestimates right here on BiggerPockets!

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