I couldn’t have said it any better than Amy Bohutinsky of Zillow did.
Professionals have to work daily to correct wrong consumer inpressions gained from misleading information diseminated by sites that are driven to create internet traffic volume so they can charge increased advertising fees. Finally, the N&O, with some help from the Charlotte Observer, cast a light on the huge home valuation inaccuracies on commercial real estate sites. These are sites that propose to help folks guess what a home is worth.
Included in the article are mention of Zillow, HomeGain, CyberHomes, eappraisal, move.com, and homepricecheck.com, in an example showing a huge range in valuations of homes.
Home valuation is not an exact science, but if a Realtor or licensed appraiser blows a home valuation by $100,000 or more, they can be held accountable. Not so the fluff and pop sites which function without the constrictions of ethics, legal regulation, or fiduciary duty.