Proposed legislation in Arizona that would have formally legalized Zestimates -- the home-value estimates generated at Zillow.com -- failed in the state House of Representatives today. Senate Bill 1291 had already passed the state Senate, and a House amendment sought to exclude Zillow and other automated home-valuation sites from the need to have an appraisal license to offer value estimates in the state. Arizona state Rep. Michele Reagan, R-Scottsdale, proposed the amendment to the legislation that would have clarified what constitutes an appraisal and exempt Web sites like Zillow from securing an appraiser's license to offer home-value estimates in that state. A spokesman for state House Republicans said that the amendment may be added to another appraisal-related bill. State law already provides specific exemptions from licensing for the value estimates of real estate brokers, salespeople and others, so long as those individuals do not refer to the value estimates as appraisals. "Co...
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