Real estate values need human interpretation

Part 2: Assessing accurate home values

(This is Part 2 of a two-part series. See Part 1.)

It’s probably safe to assume that the early surge in Zillow’s traffic resulted in part from real estate agents and brokers who fear what Zillow may do to their business. Are “Zestimates” (Zillow’s estimate of what your property is worth) something brokers should fear?

The billion-dollar question for the real estate industry is whether computers can do a better job of accurately pricing property than experienced agents can.