Both Zillow and Redfin are popular online real estate platforms that provide estimates for home values. However, it is important to understand that both websites use different methodologies and algorithms to calculate these estimates, and they may not always be perfectly accurate.
Zillow uses a feature called "Zestimate," which provides an estimate of a property's value based on public and user-submitted data, as well as predictive analytics and machine learning algorithms. While Zillow claims a median error rate of 7.9%, the accuracy can vary significantly depending on the location and availability of data.
Redfin, on the other hand, uses a similar feature called the "Redfin Estimate." This estimate is based on data from multiple listing services, public records, and the expertise of real estate professionals employed by Redfin. While the company claims to have a lower error rate compared to Zillow, it is important to consider that these estimates are still just approximations.
Ultimately, neither Zillow nor Redfin can guarantee complete accuracy when it comes to estimating home values. It is always recommended to consult with a real estate professional or get a professional appraisal for a more accurate valuation.