In a 21 - point legal brief outlining their specific violations, two things become immediately clear (assuming of course there is truth in these allegations): Zillow is giving preferential treatment to preferred brokerages (labeled «co-conspirator Broker [s] in the lawsuit) and Zestimates are wildly inaccurate (as many have adamantly stated
since Zestimates» conception).
And
since Zestimates were introduced on the site in 2006, the company has deployed three completely new versions of the algorithm, in 2006, 2008 and 2011.
«
Since the Zestimate is calculated using thousands of data points, it's only as good as the data provided.»
But
since the Zestimate was higher than the asking price, buyers might think the home was «a bargain.»
Not exact matches
If you built a new bathroom, that could be added to your profile, which would likely increase your
Zestimate,
since this estimate is based on things like the number of bathrooms in a home and how it compares to similar properties.