Real-estate brokers have long complained that the numbers give sellers, in particular, a distorted view of their home’s true worth. ( Zillow / TNS )Now the Zestimate, that little number that appears at the top of every home’s Zillow page and updates daily, is in line to get more accurate. On Wednesday, the Seattle-based company awarded a $1 million prize to the winners of a public contest to improve its algorithm. Sometimes Zillow is really off — the median error rate of 4.5 per cent nationally means half of home values are wrong by more than 4.5 per cent. Zillow says about 1 in 8 Zestimates winds up being wrong by at least 20 per cent.

Source: thestar February 01, 2019 02:26 UTC