Industry NewsOpinion

Zillow needs neither license nor exemption

Perspective: Warning label could limit misuse of automated valuations
Published on May 17, 2007

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by CareyBot

Automated valuation models, known as "AVMs," aren't new. In fact, lenders and appraisers have used these computer-generated estimates of property values for some years as both a supplement to and substitute for an opinion of value prepared by a state-licensed appraiser.

So why has the state of Arizona turned Zillow's "Zestimates," which differ little if at all from other automated valuations, into a political ping-pong ball?

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