Are Zestimates accurate? And if they’re off the mark, how far off? Zillow chief executive Spencer Rascoff answered that they’re “a good starting point” but that nationwide Zestimates have a “median error rate” of about 8 percent.

When “CBS This Morning” co-host Norah O’Donnell asked the chief executive of Zillow last week about the accuracy of the automated property value estimates — known as Zestimates — that can be found on his company’s Web site, she touched on one of the most sensitive perception gaps in American real estate.

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