- Software carefully manages incredible amounts of data to create comprehensive but manageable property overviews
- Publicly available data is being used in more and more commercial software products
- Consumers today are highly informed of their property options well before engaging an agent
Have suggestions for products that you’d like to see reviewed by our real estate technology expert? Email Craig Rowe.
Revaluate is a home and neighborhood ranking tool.
Platform(s): Safari, Firefox, Chrome; mobile responsive
Ideal for: All agents, teams of all sizes; agents working with younger, web-savvy clients
Top selling points
- Agents can buy exclusive prospecting rights to specific ZIP codes
- Powerful community data reach far surpasses what’s available on majority of MLSs
- Sharp, fun interface
Things to consider
Agents not comfortable with giving control of data over to their buyers may have an issue with Revaluate. Of course, it’s a free website, so there’s little that can be done once a client finds it.
Well, well, well. Real estate used to be all about location, location, location.
It’s safe to say it’s now all about data, data, data.
Revaluate leverages its accesses to what I would call an excessive number of public databases to assemble property and neighborhood reports for what is right now, almost any home, apartment or condo in Manhattan and San Francisco.
The company plans to add 18 more markets in the next 18 months.
The easiest comparison is CarFax. But Revaluate is about much more than the physical condition of a property.
The tool uses its proprietary Liveability score to rank properties market-by-market, from 1 to 100.
Scores are based on an the average points in each of the following categories: Safety, Environment, Quality of Life and Expenses.
Naturally, I’m a big fan of the clever wordplay Revaluate uses to succinctly describe each sub-rating. For example, a property in a relatively crime-free locale will be described as “Secret Service: It basically comes with its own secret service agent.”
The tool uses its proprietary Liveability score to rank properties market-by-market
If it’s an environmentally friendly place, it’s labeled as “Greenpeace,” and summarized thusly: “Mr. Clean lives nearby.”
Revaluate’s developers are clearly having a good time with their product. The sharp interface and clear reporting layout further demonstrates that.
Additionally, the informal, conversational approach to not just the descriptive language, but the entire concept of the tool, makes it evident that they’re are skewing toward the younger, more progressive homebuyer — the buyer who will drive 25 miles out of the way for a better Yelp-rated pumpkin vanilla latte.
Of particular interest is Revaluate’s in-depth crime reporting stats, which detail the type of violation, the date of occurrence and the number of feet within the property it happened. Talk about neighborhood watch.
Structural damage, public health notices, utility use history and records of vermin control efforts all make it into each property’s report.
The site also allows for ZIP-code-wide reporting sorted by category.
Each search is also accompanied by a Google street view.
Even though Revaluate is largely consumer-focused, it does value what the real estate agent offers the home buying public.
Agents can buy advertising rights to ZIP codes tracked by the site. Any listing searched within it will be accompanied by a branded call to action from the requisite agent.
Real estate agents need to prepare themselves for Revaluate reports better than doctors did for the onset of WebMd. Or the Zestimate.
The site is in beta now, but upon full adoption, the industry should prepare to be outgunned by customers who come across its witty, highly granular property breakdowns.
In fact, it would be wise for agents to use the site to double-check their own listings, as well as use its native sharing tools to broadcast reports to prospective buyers.
Revaluate is big real estate data made manageable, and a little bit snarky.
Oh, and it also includes a list of any famous neighbors.
Because why wouldn’t it?
Have a technology product you would like to discuss? Email Craig Rowe.