Trouble for Zillow

Funny – the same day techcrunch writes up zillow (again), they get hit with multiple FTC complaints.

“Zillow is placing the American dream of homeownership at risk for countless working families,” says John Taylor, NCRC President and CEO. “For a company that represents to consumers that they are the ‘Kelley Blue Book of Homes,’ this is a very dangerous situation. We call upon the FTC to intervene and ensure that Americans receive accurate appraisals and valuation information to protect the single most important investment of their lives: their home.”

“NCRC and its members are aware of a growing number of real estate and lending professionals who use the misinformation on Zillow.com to perpetrate fraud in our nation’s markets, often by targeting consumers in violation of Federal and State Fair Housing Laws.” continues Taylor. “During this time in our economy when the real estate market is changing and consumers are already at risk of being over extended due to the increased access to non- traditional loans, Zillow’s misinformation exacerbates the situation. Practices like theirs undermines the critical importance of valuation protections that benefit consumers and lenders alike, and guide the actions of all valuation professionals.”

It will be interesting to see what happens.

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10 Responses to “Trouble for Zillow”

  1. Welcome to Race Piracy 2.0: Zillow.com is targetted for the crime of having deep pockets . . . | BloodhoundBlog | The weblog of BloodhoundRealty.com in Phoenix, Arizona Says:

    […] Head’s up, folks. It’s a shake-down. […]

  2. Seattle Housing Buzz » Blog Archive » Just Plain Dumb Says:

    […] You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site. « John L. Scott will continue Realtor.comfeed […]

  3. REBlogGirl Says:

    This has become an industry soap-opera. I am still a proponent of Zillow. It seems as the technology has legs, the data- well, that is a different story. But don’t all new technologies have growing pains? Zillow is a victim to it’s own adoption rate, nothing more.

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