Thursday, March 15, 2012

Redfin's Answer to Zillow's Zestimates: Home Price Tool

Seattle-based Redfin, the online real estate brokerage run by Gleen Kelman, launched a new Home Price Tool Thursday, the firm's answer to Zillow's popular "Zestimates" home pricing estimator. According to Redfin, its new Home Price Tool calculates likely prices ranges for a home, and allows you to share that analysis with others, including friends, family, agents, and potential home buyers or sellers. Redfin--which already includes Zillow's Zestimates on its site--said that it's tool, unlike Zillow's Zestimates, provides a more transparent pricing mechanism which does not use a "secret formula" to calculate prices, saying that people are able to price a home "far more accurately" than a computer.