INSTANT OFFERS is a new program by Zillow that leverages the credibility of Zillow to help sophisticated investors buy homes from unsuspecting consumers at thousands below market. Homeowners and agents have tolerated inaccurate Zillow Zestimates for years. Even Zillow’s own CEO sold his home 40% below the Zestimate price. These online valuations (no one sees the home) consistently mislead consumers about home values, making it harder for real estate professionals to help buyers and sellers make good decisions. The Stop Zillow petition is reasonable and clear. It respectfully requests the National Association of Realtors demand that Zillow discontinue Instant Offers in the best interest of the public and in fairness to the real estate industry that empowered it.
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