Zillow.com has landed in the hot seat over claims that its home valuation tool is inaccurate.
The National Community Reinvestment Coalition, a Washington, D.C.-based nonprofit that promotes equal access to credit and capital for underserved communities, has filed a 12-page complaint against Zillow with the Federal Trade Commission.
It says that Zillow's valuation "mechanism is highly inaccurate and misleading to consumers, including the general public, as well as to real estate and financial service providers." The NCRC also notes -- citing its own audit -- that Zillow is off the mark with its home value estimates more than two-thirds of the time.