Zillow Opens Database to Homeowners

WebKnowHow
Wednesday, September 20, 2006; 04:10 AM

Zillow.com, a real estate Web site with valuations and data on 68 million U.S. homes, now allows consumers to contribute updated and detailed information about their own homes to Zillow's national database.

To use Zillow's opened database, homeowners simply go to Zillow.com, register under their own name, and "claim" their home's record through an online private verification process. Once the short process is complete, homeowners can add remodel information, update or change facts (such as square footage, beds/baths, etc.), as well as provide more specific details such as a waterfront view, type of parking or roof composition.

Based on those additions, as well as choosing their own "comps," or comparable transactions, homeowners can then re-calculate an estimated value for their home and choose to publish this estimate for other Zillow users to see. All homeowner-contributed information will be shown alongside Zillow's existing data for that home, including the Zestimate valuation.

"Opening up Zillow's massive database and allowing homeowners to contribute factual information and commentary will, over time, dramatically enhance the quality and relevance of Zillow to buyers, sellers, and homeowners," said Rich Barton, Zillow co-founder and CEO.

Previously, Zillow allowed consumers to modify any home's estimate via a private worksheet -- adding in remodel information, additions and choosing their own comparable transactions to calculate a more accurate value. Now, a home's owner can choose to publish this information for anyone to see. They can also choose to keep it private, or to email it to select others.

"We've received loads of feedback since our launch from homeowners who want to be able to publish things they know about their own homes, such as a kitchen remodel, a view or deck addition, that we aren't able to glean form public records," added Barton. "We're happy to now give them this option."

Zillow launched its home valuation service in February of this year, quickly becoming one of the top-visited real estate Web sites. Online measurement company Hitwise ranks Zillow as the fourth largest real estate site in the U.S., based on market share of visits. Zillow received 3.7 million unique visitors in August according to internal tracking systems.

As part of the same site update, Zillow now offers even more ways for consumers to be active participants in real estate. One such feature lets visitors choose their favorite homes (including their own) as part of "My Zillow" and "watch" them -- tracking Zestimate movement, comparing them easily to each other, and easily finding any updates made by their owners.

Consumers who activate this feature can also opt to receive the free Zillow Home Report via email, which highlights a 30-day Zestimate trend for the favorites and provides comps of recently sold homes.

To find a Zestimate valuation on a home or to create your own estimate, visit www.zillow.com . To read about and comment on the latest Zillow news and observations, visit the Zillow Blog at www.zillowblog.com .