It was only a matter of time until someone filed the first complaint against Zillow. The National Community Reinvestment Coalition(NCRC) has filed a
bogus complaint with the FTC, alleging that Zillow’s property value estimates are misleading, uncool, unsavory, and basically- the devil.
Of course, anyone can file a complaint against anyone, for about any reason, so this may not even go anywhere. Seems to be another example of the “I’m a victim” mentality.
Oh, so Zillow’s estimates aren’t accurate?!?
You mean a 4 second calculation really can’t tell me exactly what my home is worth? Duh…
Zillow is simply a fun tool to look at homes and get a very broad range of a possible value of a property. A professional Realtor will obviously give you a much better idea of a home’s market value, and Zillow knows this and does not claim to take the place of a Realtor. They rely on the real estate agent to advertise on their site, yet many in the industry are so paranoid of what Zillow might do that they whine and complain about everything they do. Why? What’s the big deal with a company giving people a fun way to see a very broad range of value?
I agree with Gregg Swan that this stinks of a shakedown, and the scary part is, many people take this crap seriously.
I say get over it and just focus on giving your clients something they can’t get online.