Industry News

Partnership creates valuation tool for broker Web sites

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Two real estate technology-focused companies have teamed up to create an automated valuation model, or AVM, that combines assessor property records and multiple listing service data, so that real estate professionals can offer home valuations to consumers through their Web sites, the companies announced today. Florida-based Visient Inc. and Denver-based IntelliReal entered an agreement to create the service and make it available to real estate brokers and agents to display on their Web sites. By combining property records and MLS data, the companies aim to create home valuations that include neighborhood "trended" values, price-per-square-foot values and graphical comparative market analysis (CMA) reporting. The valuations would be available to consumers through broker and agent Web sites. New market entrants such as Zillow and HomeSmartReports are offering home-valuation services direct to consumers, and the new valuation tool from Visient and IntelliReal aims to help brokers and age...