Zillow Taps AI to Improve Its Home Value Estimates
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Summary
Redfin CEO Glenn Kelman recently highlighted the craziness with a tweet recounting the story of a home buyer who offered to name their first-born child after the seller—and was turned down.As the hot US housing market began to overheat, in February Zillow began making initial cash offers to buy homes based on its price estimate. Now Zillow has updated its algorithm behind those estimates in a way the company says will make them more accurate—and allow Zillow to offer to buy more homes.The owners of about 900,000 properties were initially eligible to receive automatic cash offers to purchase a home.
As said here by Wired