Well many things have long used AI: Google, Netflix, Social Media, Amazon, etc. We've been subjects to it for years. Zestimates are hated because they are an AVM (automated valuation model) which is inferior to how we resource data through RVM (Realtors Valuation Model) which considers far more data points and criteria - not to mention that we actually enter the properties, live in and walk the neighborhoods and work the market areas with "boots on the ground"...something an APP can't do. We are more accurate and ethical than Z.
We are better!

What is there to love about a zguestimate  Michael Elliott .? It ranks right up there with political campaign promises.

My words came right out of Candice A. Donofrio's fingers.

I am not surprised.  Some form of AI is likely integrated into everything these days. 

It is best to assume that many of the Zestimates are not accurate.

Of course it does . . . everything about Z is artificial. 

You'd think by using AI, accuracy would be there (LOL)...yet, another huge reason to hire local agents and affiliates!

Their best guess has been a formula for years.

No surprise there.  

Would like to see the source of this claim to understand HOW they are using it. Don't hate the Zestimate, easy to explain how inaccurate it is and disclosed on their very own website.

Yes. I suspect with new technology it will get better. I wonder how long it will take for it to become hyper local and learn the nuances of neighborhoods and areas.

I had assumed that. I guess with the large mainstream explosion of "AI", the name has finally hit the mainstream lexicon.

I am one that is not a fan of Zestimate or other A.I. out there

Que the music.......of course they do as it only makes perfect sense.  And I' ve been on record for years with this - I could care less what Z does. Period.

Yes, and yes.

And Katina Hargrove 352-551-0308,

The properties can be claimed and info changed!

Michael Elliott 

It is interesting, if the price drops, the zestimate goes down, if the price goes higher, the zestimate goes up.

The Zestimate folk have established a brand, something we should all be doing & thinking about. AI is perfect for doing appraisals too

The Zestimate is one of the all time great Lead Generation tool to produce income for Big Z  …..

Any estimate is just that, a good start, whatever method is used to arrive at it. 

I knew that Zillow was using Algorithm's for the zestimate from the beginning of the Zestimate launch but I didn't know that they had moved to AI. Algo's and AI are different but related. Algo's are far more rigid in their results- so it would make sense that Zillow would seek out AI which is far more adaptable. Algo's rely on If- Then statements or formula's while AI can identify patterns in the data and make thoughtful decisions. Algo's need to be manually modified to improve the quality of the results, while AI can learn and adapt on it's own.  AI needs to be trained, and once it learns- the results can be modified as it learns. I think this is where we are right now- it's still learning. While I have found the Zestimates overall getting closer to numbers I have come up with on my own- there are still way too many variances that don't make sense. Not too long ago I had a client freaked out that called me about the Zestimate on her apartment- valuing it at around 2/3'rds what she expected it to be. The problem with the Zestimate - it was pulling recently closed sales that on the surface appear to be comps- but are anything but comps. The difference was that my client had a condo, and the only data points that were recent were co-op's (condo's are worth about 15-30% more than an otherwise similar space that is a co-op). But also not factored in- these co-op's were income restricted vs. my clients apartment was free market.  The AI hasn't learned these differences yet. 

Yes, that doesn't take a genius to figure it out.