Sent: Wednesday, February 11, 2015 4:43 PM
Subject: QValue Contact form submission
Comment by the user:
Is your QValue up and running yet? Thanks.
Hi [removed], it is, but not quite public yet. The test from two weeks ago discovered some additional bad data from the MLS we are using for testing. The broker input for “subdivision name” is not a drop down, nor is it assigned by geographic location such as from a lat/long point, but is a free-form field. Brokers can input anything they like.
As just one example we found seven (7) different subdivision names input by brokers in just a single city block of 18 homes—one of which was “N/A”—nice. But it gets worse. That was based on the first entry for the field. Many of the brokers are tossing in up to three subdivision names into the field—you know the trick, input names you know are hot even though that’s not where the house is.
Additionally, we found about 5% of the homes were assigned bad lat/long numbers by the MLS or whoever is supplying that to them. They either land in the street somewhere or in some non-residential plot of land in the middle of nowhere. We had to create a program pulling them into proper location so they can be correctly identified and used in valuations.
Honestly, over the last six months all of our work is creating fixes for a really poorly designed MLS database and all of the inaccuracies in it (stuff like above plus misspellings, etc). If the public knew and the brokers realized just how bad the data in the MLS is they would give the function over to Zillow today :).
The software is done and has been fully functioning well for six months. It’s just that I won’t let it go public until I fix all of the MLS data inaccuracies.
We’ve created a fix of four new processes and algorithms to correct for this latest series of bad data discoveries. We will be running tests again in about a week. I am sorry for the delays.
800 W 8th Avenue #103
Denver CO 80204