Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
What he/she said.....Zillow is nothing more than an advertising vehicle, for agents and lenders. Forget about the integrity of the data. It's well known they are not a valid source for data. LOL, could you see an appraiser putting, "source: Zillow?"
It didn't take long for Zillow executives to sell their giveaway 8.5 cent stock options. When they listed on Nasdaq in July they was a 90 day restriction on them selling any of their stock. Virtually all IPO's have a 180 day lock-in period but these guys insisted on the minimum 90 day period and within days of it expiring they were selling. Spencer Rascoff the CEO made $2.4m, Chad Cohen the CFO only a lousy $500k, and a bunch of other chiefs walked away with amounts up to $1m.
Just think of how the home owner victims who are saddled with garbage "zestimates" and can't sell their homes or refinance at lower rates feel when they realise how these guys profit from their misery. The sooner Zillow implements a process to correct such erroneous valuations the better. Currently their attitude is to laugh all the way to the bank at your expense as they draw advertising to their website my inflicting misery
What he/she said.....Zillow is nothing more than an advertising vehicle, for agents and lenders. Forget about the integrity of the data. It's well known they are not a valid source for data. LOL, could you see an appraiser putting, "source: Zillow?"
Believe it or not, I actually reviewed an appraisal where zillow was one of the data sources
They don't provide a free service; what they do is 'cyber trespass' of property and publish valuations which in over 20% of cases are incorrect and they don't take any responsibility of their actions on any consequences to the home owner. There needs to be proper Regulation imposed on companies like Zillow so stop them using other peoples property as a means of generating advertizing revenue.
And no I am not an employee or never have been of Zillow - and wouldn't want to be
Quote:
Originally Posted by TurtleCreek80
These execs provide a FREE service (whether it's of any value to buyers/sellers is another issue altogether) and make enough cash off advertising revenue & whatnot that they had a successful IPO. Good for them if they've figured out how to make a buck off their idea. No one's getting hurt (except possibly VOLUNTARY investors), so live & let live.
OP sounds like an angry employee/ex-employee of Zillow. All his posts on city-data have something to do with Zillow.....
They provide an estimate of home values. Of course they will be wrong. A lot. There is no exact science for this. Anyone who doesn't understand this is quite frankly an idiot.
There are hundreds of websites that talk about stock values. Should those people be held responsible if someone goes out and buys or sells based on their opinion and it turns out to be wrong?
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
People running Zillow are idiots
