I just went and tried this. The Zestimate for my place is... ludicrous. Probably 30% below market value. What's more, similarly sized apartments on the same floor vary by 15%!
I'd always thought this number was dumb but wow. This is even more ludicrous than I could've believed.
How can it be this far off with apartments with recent sales history in a building with lots of unit (and thus lots of sales activity)?
Could this be a case of them A/B testing on the Zestimate model to maximize lead generation with the "disagree?" link?
similarly sized apartments on the same floor vary by 15%
Is that so unreasonable. In the building I used to live in for example the apartments on one side of the house had a beautiful view from the balcony and the ones on the other side didn't. The view side apartments consistently sold for more. I've also looked at apartment buildings where the floor size is basically them same for two apartments, but the layout was different, and people where willing to pay more for the apartments with the better layout.
Highly unlikely. You do not cause this level of pricing swings in an A/B test. Additionally, A/B testing this much of a price swing heavily discounts the value of the tool.
I'd always thought this number was dumb but wow. This is even more ludicrous than I could've believed.
How can it be this far off with apartments with recent sales history in a building with lots of unit (and thus lots of sales activity)?
Could this be a case of them A/B testing on the Zestimate model to maximize lead generation with the "disagree?" link?