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Real estate investors, advisors and analysts will now have access to up-to-the-minute information on the housing market with the release Tuesday of Plunk Pro, a new tool from AI-powered home valuation and analytics company Plunk.
Plunk Head of Mobile Product Ian Brillembourg compared Plunk Pro to how Wall Street professionals monitor the activities of public companies.
“Stockbrokers and investors have had access to real-time data for decades and currently deal with an average trade size of $10,000, which is much less than a real estate deal,” Brillembourg said. “The average sales price of a home in the U.S. was $495,100 as of Q2 2023, yet until now, there was no way for real estate brokers and investors to have access to real-time property valuation data and analysis.“
Plunk’s algorithm dynamically processes information on more than 104 million U.S. homes, churning that data into actionable insights for the industry’s many stakeholders. The uses are many, ranging from predicting a home’s value after a primary bathroom renovation to pinpointing specific reasons for local home price differences, allowing agents to be better informed, faster.
The application allows for manual updates of outdated home features, which will become part of future valuations across the app, market-wide housing performance stats and tools for understanding what physical updates offer the most return on investment, among other features offered by Plunk, which initially launched as a tool for comparing the ROI on home renovations.
Plunk is among a growing family of applications that are helping to make the built world into a living one subsisting on countless sources of data. This organic transformation is affecting home search, mortgage, inspections, renovations and resales, among other aspects of the real estate economy. Inspectify, for example, is using housing data to create uniformity in the inspection space while Restb.ai, Mosaik and ListAssist use computer vision to extract property data to be used in home search, MLS compliance and appraisals, among other uses.
“We’re on a mission to unlock confident investing in the largest asset class in the world, leveraging next generation applications of AI and deep learning,” said Brian Lent, Co-founder and CEO of Plunk, about the release of Plunk Pro.
Plunk also actively markets its Market Analytics API to proptech companies that have installed it across a range of platforms to share dynamic real estate industry data with their users and to augment product offerings.
In May 2021, Plunk raised $6.5 million in seed funding. It’s also a 2021 alumnus of the National Association of Realtors’ Reach Accelerator program.
