ziprealty Introduces Realius Community Estimator
December 17, 2008 by Emma Sorensen
US brokerage firm ziprealty.com has introduced community estimating technology to its website which allows users to say publicly what they think a property is worth.
There’s no doubt it is going to be a controversial application, but also one with a lot of potential for revolutionalising the sales process and the experience of users browsing properties online. And it’s probably a risk ziprealty.com feel able to take, having been ranked number 4 overall in terms of market share for US real estate websites in the latest November Hitwise figures
The technology is courtesy of a company called Realius, who describe it as a price prediction widget, with read-write capabilities and user state management, making it more complex than most data widgets you see on real estate websites. Realius were also responsible for real estate pricing games that hit the market earlier this year.
Basically, it will mean that any user can note what they think any ziprealty.com listing is worth, and any other user will be able to see what others have said the listing is worth. The technology makes the sales process quite transparent, showing what people really think a property’s value is.
The application joins of host of others that ziprealty.com have embraced for their 1.3 million home listings. They were the first to include one-click driving directions to multiple homes, have extensive neighbourhood and school data, home sale data and satellite images of properties.
geekestateblog.com reminded us that Ziprealty launched a “Price Me Now” sub domain back in July, but the introduction of the Realius technology has taken it a step further, allowing anyone to predict a price, and linking it directly to the listing.
What is the potential of community pricing technology for other brokerage and real estate websites? Will property portals be keen to introduce a similar function?
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