We’ve had several posts about Zillow’s Zestimates over the years so this latest development piqued our curiosity. However, a recent episode of Real Estate News for Investors reports that Zillow unveiled a new version of its Zestimate home valuation tool that’s supposed to be much more accurate than previous versions. In fact they claim that the error rate is now less than 2% thanks to the ideas it collected in its recent million dollar contest to make the platform smarter.
“Among the improvements that Zillow made to the Zestimate is the use artificial intelligence to analyze photos and automatically determine the value of upgrades. It does this with a type of machine learning called “neural networks” combined with “computer vision.” …”