Transcript for Zillow faces lawsuit over Zestimate tool
Back with our big board and "Shark tank's" Barbara Corcoran here to talk about a new lawsuit. Thanks for coming in. That could affect millions of homeowners. A woman against the online site zillow. Zillow has a zestimate which estimates the cost of homes and she's saying this hurt her ability to sell her home. What's that about? It makes good sense. What happened with this particular woman in Illinois is she felt her home was worth $626,000 and the zestimate came in at 562. That's a $64,000 difference. Her feeling is is that a typical buyer checks his estimate and thinks her home is worth less. She's claiming her home was put in with a basket of other homes that have no bearing on the value of her home. Zillow responded to this and said, zestimate is a starting point to determine a home's value and isn't an official appraisal. The plaintiff can update her own zestimate by adding the square footage of her home so are these online tools accurate and exactly how do they work? Well, the zestimate you have to realize is just an estimate. That's why they named it that way. Not intended to be an appraisal and the company has been very forthcoming in saying that all along. Here's what goes awry. A typical buyer goes in and doesn't realize that the fault factor in it is roughly 5%. Doesn't sound like a lot but one in ten hopes are estimated at more than 20% less than they're actually worse so if you were in that 1 in 20 homeowner that's a sizability difference and could be injurious to you. It's a starting point and it is a starting point. Reliable, no. And it's only a starting point. Here's the rub, every consumer out there knows about a zestimate and always check it and so the consumer is using its though it's an appraisal and that's the basis of the lawsuit. Claiming they should be licensed as an appraisal firm. What do you recommend? If you want to get the best price what you must know is the real value of the home and must be extremely accurate about what other homes are compared to yours and not just used as an algorithm and rely on an agent who know what is they're doing or pay for a real appraisal. I've looked at those my estimate. I love the name. Best marketing tool and makes them a fortune. Absolutely. A lot at stake. Thank you. Appreciate it. That backlash over the bbc's new royal drama "King Charles III," the show which aired last night in the uk, imagine the royal family after the queen has died and Charles has taken the throne. ABC's lama Hasan joins us from Buckingham palace with more on that. Good morning, lama. Reporter: Yeah, good morning to you, Michael. So the bbc film is based on the award winning play. The queen is dead. The country is in transition with a dysfunctional royal family and princess Diana's ghost appears in a couple of eerie scenes ruffling quite a few feathers. The queen is dead. Long live the king. That's me. Reporter: It is a brand-new royal drama igniting a firestorm. Your father rules today. Reporter: "King Charles III," a shocking 90-minute fictional film imagining what life would be like for the house of Windsor after the queen gdies. This is perhaps the most unstable moment the royal family will face. Reporter: Charles becoming king. My life has been a lingering for the throne. Reporter: Embarking on a constitutional crisis so extreme Kate Middleton is portrayed as a manipulative lady Macbeth figure threatening to depose him. Perhaps I might relieve the H harshness. Reporter: Principal seas Diana's ghost appears telling Charles he would make a good monarch. This whole life, I want more. Reporter: Harry wants to lead a low-key life. It's not what I was born into. Reporter: Anti-monarcher commoner and he living in the projects and Kate pushes William to take on his father. Become the man I know you are. I am not king. Reporter: If that wasn't controversial enough, tensions running high and the future of the royal family reaching boiling point, Camilla slaps William. Well, some of the most heated criticism focuses on what it brings about about prince Harry's father suggesting it was princess Diana's former lover because of their likeness. In a recent interview James Hewitt categorically denied those claims. Rosa mosque ton, one of princess Diana's closest friends called the film salacious saying it was deliberately causing prince Harry pain. Lama, we know a lot of people are in an uproar. Has the royal family commented at all? Reporter: Yeah, Michael, no comment from the family living in the palace behind me yet but that's hardly surprising. Given that they don't normally comment on things like this. But it does have one member of parliament up in arms who called this just a wrong perception of the royal family. He had some pretty harsh words to say about this film. Let's be honest. All of us including Barbara were hanging on that clip. Will we get to see it here in the states. Reporter: Oh, absolutely, George. Yes, U.S. Viewers will get to see what the fuss is all about when it airs this Sunday on pbs. All right. Good news, right. I want to sleep with Charles. All right. On that note, Barbara, thank
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