At's an algorithm based on available data... it may not be accurate, but that doesn't mean it's too wrong. Also, if you put in expensive features, doesn't mean your house will sell for twice as much in a given neighborhood. Pricing is fairly collective with main factors being property size, home size, bedrooms/bathrooms and some influence on features, namely pool, garage(s) etc.
That doesn't mean it's entirely wrong, unless there are manual tweaks happening to shape specific markets, which may be proven/disproven through discovery. Aside from that, there's the legal aspects in different states and counties in terms of what a licensed/unlicensed seller is allowed to do.
I would say that if the market is more than 20% off in terms of actual sales from the Zestimate, then there may be something up... The Phoenix market seems pretty accurate to within 5-10%, which is pretty reasonable.
That doesn't mean it's entirely wrong, unless there are manual tweaks happening to shape specific markets, which may be proven/disproven through discovery. Aside from that, there's the legal aspects in different states and counties in terms of what a licensed/unlicensed seller is allowed to do.
I would say that if the market is more than 20% off in terms of actual sales from the Zestimate, then there may be something up... The Phoenix market seems pretty accurate to within 5-10%, which is pretty reasonable.