"Zillow, the US's largest real estate listing site, has removed a feature that allowed people to view a property's exposure to the climate crisis, following complaints from the industry and some homeowners that it was hurting sales. In September last year, the online real estate marketplace introduced a tool showing the individual risk of wildfire, flood, extreme heat, wind and poor air quality for one million properties it lists, explaining that climate risks are now a critical factor in home-buying decisions for many Americans."
"The complaints included those from the California Regional Multiple Listing Service, which oversees a database of property data that Zillow relies upon. Zillow said it remains committed to help Americans make informed decisions about properties, with listings now containing outbound links to the website of First Street, the nonprofit climate risk quantifier that had provided the on-site tool to Zillow."
"The risk doesn't go away; it just moves from a pre-purchase decision into a post-purchase liability, Eby said. Families discover after a flood that they should have purchased flood insurance, or discover after the sale that wildfire insurance is unaffordable or unavailable in their area. Access to accurate risk information before a purchase isn't just helpful; it's essential to protecting consumers and preventing lifelong financial consequences."
Zillow removed an on-site climate-risk index that showed wildfire, flood, extreme heat, wind and poor air-quality risk for one million listed properties after complaints from real estate agents and homeowners that rankings appeared arbitrary, unchallengeable and harmed sales. Complaints included the California Regional Multiple Listing Service, which provides property data used by Zillow. Zillow replaced the on-site scores with outbound links to First Street, the nonprofit that supplied the ratings. First Street's founder warned that removal shifts crucial pre-purchase risk information into post-purchase liabilities, exposing buyers to unexpected unaffordable or unavailable flood and wildfire insurance and lifelong financial consequences.
Read at www.theguardian.com
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