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The accuracy of home value estimator tools has become such a topic of debate, in fact, that a group of Chicago homeowners once sued Zillow over their allegedly inaccurate estimates.
Redfin It says it bases its estimates on hundreds of data points, including information about the home itself, the neighborhood the home is in, the overall real estate market and more.
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Zillow Group, Inc., or simply Zillow, is an American tech real-estate marketplace company that was founded in 2006 [4] by co-executive chairmen Rich Barton [5] and Lloyd Frink, former Microsoft executives and founders of Microsoft spin-off Expedia; Spencer Rascoff, a co-founder of Hotwire.com; David Beitel, Zillow's current chief technology officer; and Kristin Acker, Zillow's current ...
A multiple listing service (MLS, also multiple listing system or multiple listings service) is an organization with a suite of services that real estate brokers use to establish contractual offers of cooperation and compensation (among brokers) and accumulate and disseminate information to enable appraisals.
Redfin, a Zillow competitor, also has its own model. Kennedy has been studying AVMs for more than three decades, but it wasn't until the advent of Zillow that the masses became aware of them.