Tech Tuesday: Zillow?s Home Valuation Algorithm
Zillow?s Home Valuation Algorithm
It’s Tech Tuesday – our weekly dose of?tech innovations that are rapidly changing the real estate industry.
The article of the week: “Zillow awards $1 million to team that reduced home valuation algorithm error to below 4%.”
Are you familiar with Zillow’s Zestimate?
It’s Zillow’s estimated market value for a home, computed using a proprietary formula.
Well, two years ago Zillow launched?an open contest called the Zillow Prize. This contest challenged users to improve the accuracy of Zillow?s home valuation algorithm.
A winner emerged, and now Zillow expects that the improvements could bring it $1,300 closer to the actual home’s sale price.
Pretty cool, right?
You May Like
Our Predictions for 2023 Technologies and Trends
As we head into 2023, our eyes are on the real estate sector as new technological advances emerge. In recent years, the industry has undergone some turbulence due to changes in how we buy and
Tech Tuesday: Real Estate Marketing Ideas & Trends
It?s Tech Tuesday ? our weekly dose of tech innovations that are rapidly changing the real estate industry and beyond. Article: 19 Real Estate Marketing Ideas & Trends That Will Dominate 2019 Author: Emile L'Eplattenier