Homeowner Sues Zillow
Despite efforts by the title industry and others to educate consumers about the risk, homebuyers continue to be targeted.
(Boonton, NJ, July 14, 2017) — Since 2006, Zillow has been posting "Zestimates" of property values for the world to see.
And for just as long, homeowners and agents have griped about what they consider inaccurate estimates.
Disgruntled seller Barbara Andersen went farther than just complaining. She filed a lawsuit against Zillow in May, seeking an injunction that would force Zillow to remove the estimate of her Chicago-area home’s value from its site.
Andersen, a real estate attorney, paid $630,000 in 2009 for a new home in Glenview, IL. She is trying to sell the house by owner for $626,000, but she says she’s being undermined by Zillow’s low-ball value, which has presented "a tremendous roadblock."
Andersen says her suit is unlikely to be the last legal action filed against Zillow by a homeowner. "They’re going to become the subject of a lot more litigation," she predicts.
Indeed, in late May, Andersen switched gears representing a group of homebuilders in a suit against Zillow. She’s seeking class-action status for that suit.
"Plaintiffs and the class will continue to suffer irreparable injury with the current Zestimate placed by Zillow relative to their properties without the granting of an injunction to prohibit this conduct," the suit says.
More on Andersen’s lawsuit, plus new discount models, and data on Realtor income appear in the July issue of Real Estate Broker’s Insider newsletter.
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