Barb Schlinker The Real Estate Voice

Why Zillow Zestimates are Wrong - the Failed Algorythm StorySegment 1Why Zillow Zestimates are Wrong – The Failed Algorythm StoryBarb, the latest news is Zillow quit buying homes.  Can you explain what happened there and whether or not it affects our real estate market? Who is Zillow?An Internet Company WhoMastered Google Dominance – always on page 1 of Buyer and Seller SearchesBusiness Model to Generate Leads and Sell them to AgentsWhat is Zillow Now?Changed their Mission and Decided to ENTER & DOMINATE THE REAL ESTATE BUSINESSStarted Zillow Offers based on their Computerized ZESTIMATE of Home ValueZillow Created a False Sense of Convenience in the Sale Process in order to Profit from a Home Seller’s Hard-Earned EquitySomething Went REALLY Wrong…Lost ½ BILLION DOLLARSOffering Easy ButtonWhy?  They were paying too much and when they tried to re-sell them the market did NOT respond.Zillow quit Buying Homes and is laying of 25% of their workers!IN OTHER WORDS…THEIR COMPUTER ALGORYTHM OF A HOMES VALUE LET TH