Zillow's chief analytics officer and chief economist offers insight into the company's approach to data, models, and the real estate market.
Michael Krigsman examines the influence of Zillow Estimate, or Zestimate, on the real estate industry. The Zestimate system "uses a variety of data sources and models to create an approximate value for residential properties," explains Krigsman, and its effect "has been considerable, to say the least."
From the home buyer perspective, Zillow's Zestimate enables significant transparency around prices and information that historically was available only to brokers. The company has genuinely democratized real estate information and adds tremendous value to consumers.
The article includes a transcript of an in-depth interview with Stan Humphries chief analytics officer and chief economist at Zillow. A video of the conversation is show below.
FULL STORY: Zillow: Machine learning and data disrupt real estate
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