The Impact of Machine Learning Algorithm in Real Estate

The purpose of this study is to understand the impact of Zillow and their machine-learning algorithm Zestimate on the real estate market. We will interview real estate agents, home buyers, and home sellers to explore their experiences with this AI system. This case study comprises an intriguing example of not only the transformative power of algorithms in society but also how AI systems may transform the role of real estate agents as knowledge experts, and how effective partnerships between different stakeholders and AI can be achieved or hampered. The proposed research project aims to dive deep into this socio-technical phenomenon, focusing on the concept of human-AI collaboration and trustworthy AI, and how this new technology is disrupting societal and economic practices in a systemic fashion.