Kelley Blue Book Co. Inc., the vehicle valuation and automotive research company, has expanded into the real estate realm with the launch of Kelley Blue Book Homes.
The new consumer platform is now available in 11 states – Arizona, California, Colorado, Florida, Idaho, Nevada, North Carolina, Oregon, Texas, Utah, and Washington. In a press statement, the company said the new platform “evaluates homes using neighborhood-level pricing intelligence combined with real property information supplied by homeowners including renovations, improvements, condition, amenities, and other characteristics that automated models cannot reliably capture.”
The company added that its platform is powered by TrueTracts, True Footage’s proprietary appraisal technology.
“At a time when many Americans are approaching retirement, considering a move to relocate, or sizing up or down, the Kelley Blue Book data distinction matters enormously,” said John Liss, CEO of Kelley Blue Book Homes. “The Kelley Blue Book Homes experience is designed for people to maximize their outcome through a comprehensive valuation and sales strategy with a vetted agent guiding the process.”
Are they going to have DRE or NMLS designations? Are they going to be able to keep up with the daily changes that are posted through MLS?
Sounds good, but I’m not buying it.
They can’t even get automobiles valued right, and now they want to value residential real estate. What a joke!
I’m with you, Gary.
I envision AI lowering values, especially in low income neighborhoods. Appraisers will follow suit. Sellers won’t make the money they should because Buyers’ loans won’t be approved if the appraisal doesn’t work out. Unless the Buyer can fork over more cash. Flippers will have a party.
Every claim big biz makes to help people just robs them, instead. They’re trying to bypass the need for real estate agents, altogether. Big biz is working hard to train buyers to purchase houses like cars.
Sooner or later, everything will be leased. Yuk.