Isn't another problem that people who would use their automated service to sell their houses will skew towards those whose houses have some value-diminishing problem (which their algorithms have a hard time accounting for) or for other odd reasons have lower than usual market price?
People who can fetch a premium for their houses probably wouldn't use an automated algorithm, which tends towards the mean?
E.g. a self selection of those who would use this service tends to give Zillow a bunch of houses of lower value than average.
People who can fetch a premium for their houses probably wouldn't use an automated algorithm, which tends towards the mean?
E.g. a self selection of those who would use this service tends to give Zillow a bunch of houses of lower value than average.