Latest / Connor with Honor: AI, Real Estate and Real Life / Zillow: Friend or Foe? Uncovering the Risks of Online Real Estate Data

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Zillow: Friend or Foe? Uncovering the Risks of Online Real Estate Data · Connor with Honor: AI, Real Estate and Real Life

• 0:00
  SPEAKER_00: If you've been around real estate for any particular period of time, maybe you're a home buyer, home seller, you've probably looked at the Zillow website, maybe trying to find out what your property is worth.
• 0:08
  SPEAKER_00: And right after you put your information in, you were just completely bombarded by the people, the real estate agents, and other vendors that are paying Zillow to give them your information.
• 0:17
  SPEAKER_00: So that happened.
• 0:18
  SPEAKER_00: Zillow now just reported that it's going to be putting out information on climate change.
• 0:23
  SPEAKER_00: And you sellers out there might have looked at your Z estimate on Zillow and actually saw that it was completely either too low, that's most cases, sometimes too high.
• 0:33
  SPEAKER_00: So there are different variables there that could impact your psychology when it comes to putting your house on the market.
• 0:40
  SPEAKER_00: So then when you have your agent come over and look at things, then those numbers don't really jive with what the syndication site is telling you that your property happens to be valued.
• 0:49
  SPEAKER_00: One of the things that I would say is find out where that data is coming from.
• 0:53
  SPEAKER_00: Now that Zillow is going to be embarking and including climate change into their algorithm when they have people search for real estate, I don't know if that's going to help or if it's going to hurt.
• 1:44
  SPEAKER_00: It might not be very helpful, but at least before you believe anything online, even on any other site, syndication or otherwise, make sure you find out where the data is from.
• 1:55
  SPEAKER_00: It's so easy to be told something as if it's a fact, depending on who's telling you, and then all of a sudden finding out later that that information is totally bogus and it was only placed in front of you to try to elicit either a buying or a selling decision.
• 2:10
  SPEAKER_00: With the advent of artificial intelligence and them using those particular systems whenever they're building real estate ads and even just building websites to make them super optimized.
• 2:21
  SPEAKER_00: You look at your social media, they have that tapped into as well.
• 2:25
  SPEAKER_00: So they're going to be speaking, interacting, and dealing with you as you want to be dealt with.
• 2:31
  SPEAKER_00: And in those circumstances, again, it's much easier to buy from a friend than a stranger.
• 2:37
  SPEAKER_00: I'm Connor with honor.
• 2:38
  SPEAKER_00: We'll see you in the next one.