5 ms·

Since when is providing a housing estimate a regulated activity?

mbroshi 10y ago
This is from the article: "...the fact that they offer market-value estimates and 'are promoted as a tool for potential buyers to use in assessing [the] market value of a given property,' shows that they meet the definition of an appraisal under state law. Not only should Zillow be licensed to perform appraisals before offering such estimates" It can be surprising when seemingly innocuous activities are in fact heavily regulated (cf. Stanford needing to remove all their learning videos from their website).
- ChairmanPao 10y ago
  Berkeley. But never let the Truth stand in the way of a good story, especially on hacker news.
- wuliwong 10y ago
  I don't believe the article is correct in the definition of appraisals. A valuation or an approximation of value by impartial, properly qualified persons; the process of determining the value of an asset or liability, which entails expert opinion rather than express commercial transactions. http://legal-dictionary.thefreedictionary.com/appraisal http://legal-dictionary.thefreedictionary.com/appraisal
  - djrogers 10y ago
    The article doesn't have to be correct about the definition, it's about how Illinois regulations define it.
- cwkoss 10y ago
  Why did stanford have to take the videos down?
  - wuliwong 10y ago
    It doesn't look like the did. At least not the ML course https://see.stanford.edu/Course/CS229/47 https://see.stanford.edu/Course/CS229/47 Still has that blistering audio though, wish somebody would regulate that to a lower volume. :)
    - WillPostForFood 10y ago
      OP may have confused Stanford with Berkeley, which was forced to remove thousands of videos because they weren't captioned for the hearing impaired. https://news.ycombinator.com/item?id=13815764 https://news.ycombinator.com/item?id=13815764
  - e15ctr0n 10y ago
    It wasn't Stanford, it was Berkeley. UC Berkeley makes course video content unavailable to public https://news.ycombinator.com/item?id=13768856 https://news.ycombinator.com/item?id=13768856 Berkeley Removes 20,000 Free Online Videos to Comply with DOJ Ruling https://news.ycombinator.com/item?id=13815764 https://news.ycombinator.com/item?id=13815764
cmiles74 10y ago
At least since 1989. Take a look at the "Appraiser Qualification Board" section. https://www.appraisalfoundation.org/imis/TAF/About_Us/TAF_Boards/TAF/TAF_Boards.aspx?hkey=40ed8f0a-c2de-482e-8bf3-e00eb0db4f93 https://www.appraisalfoundation.org/imis/TAF/About_Us/TAF_Bo...
JBReefer 10y ago
This is a lawyer, who can sue people at very low cost compared to the rest of us. If this is a regulated activity, it absolutely shouldn't be. This reminds me of the absurd barber regulations.
- JustSomeNobody 10y ago
  Surely most regulations are in place because someone at some point in time tried to take advantage of someone, yes?
  - wuliwong 10y ago
    No.
    - mcguire 10y ago
      Source?
    - JustSomeNobody 10y ago
      Then what?
      - cnnsucks 10y ago
        Typical rent seeking behavior that happens during long periods of peace.
        srdev 10y ago
        Any proof of that?
- kevin_b_er 10y ago
  When the value of your $100000, $200000, $300000, or more home can be greatly affected by a someone else's declared valuation of your home, its how you get regulations.
- 10y ago

This is from the article: "...the fact that they offer market-value estimates and 'are promoted as a tool for potential buyers to use in assessing [the] market value of a given property,' shows that they meet the definition of an appraisal under state law. Not only should Zillow be licensed to perform appraisals before offering such estimates" It can be surprising when seemingly innocuous activities are in fact heavily regulated (cf. Stanford needing to remove all their learning videos from their website).

ChairmanPao 10y ago
Berkeley. But never let the Truth stand in the way of a good story, especially on hacker news.
wuliwong 10y ago
I don't believe the article is correct in the definition of appraisals. A valuation or an approximation of value by impartial, properly qualified persons; the process of determining the value of an asset or liability, which entails expert opinion rather than express commercial transactions. http://legal-dictionary.thefreedictionary.com/appraisal http://legal-dictionary.thefreedictionary.com/appraisal
- djrogers 10y ago
  The article doesn't have to be correct about the definition, it's about how Illinois regulations define it.
cwkoss 10y ago
Why did stanford have to take the videos down?
- wuliwong 10y ago
  It doesn't look like the did. At least not the ML course https://see.stanford.edu/Course/CS229/47 https://see.stanford.edu/Course/CS229/47 Still has that blistering audio though, wish somebody would regulate that to a lower volume. :)
  - WillPostForFood 10y ago
    OP may have confused Stanford with Berkeley, which was forced to remove thousands of videos because they weren't captioned for the hearing impaired. https://news.ycombinator.com/item?id=13815764 https://news.ycombinator.com/item?id=13815764
- e15ctr0n 10y ago
  It wasn't Stanford, it was Berkeley. UC Berkeley makes course video content unavailable to public https://news.ycombinator.com/item?id=13768856 https://news.ycombinator.com/item?id=13768856 Berkeley Removes 20,000 Free Online Videos to Comply with DOJ Ruling https://news.ycombinator.com/item?id=13815764 https://news.ycombinator.com/item?id=13815764

cmiles74 10y ago

At least since 1989. Take a look at the "Appraiser Qualification Board" section. https://www.appraisalfoundation.org/imis/TAF/About_Us/TAF_Boards/TAF/TAF_Boards.aspx?hkey=40ed8f0a-c2de-482e-8bf3-e00eb0db4f93 https://www.appraisalfoundation.org/imis/TAF/About_Us/TAF_Bo...

JBReefer 10y ago

This is a lawyer, who can sue people at very low cost compared to the rest of us. If this is a regulated activity, it absolutely shouldn't be. This reminds me of the absurd barber regulations.

JustSomeNobody 10y ago
Surely most regulations are in place because someone at some point in time tried to take advantage of someone, yes?
- wuliwong 10y ago
  No.
  - mcguire 10y ago
    Source?
  - JustSomeNobody 10y ago
    Then what?
    - cnnsucks 10y ago
      Typical rent seeking behavior that happens during long periods of peace.
      - srdev 10y ago
        Any proof of that?
kevin_b_er 10y ago
When the value of your $100000, $200000, $300000, or more home can be greatly affected by a someone else's declared valuation of your home, its how you get regulations.
10y ago