A New Realty Reality?

Posted on July 21, 2008

What if…2000 reasonably astute Americans could tell you what your home would sell for +/-2%…more than a month before closing?  It could happen.  Actually, it already has.

I am big on mashups and bullish on prediction markets.  In the wake of the mortgage meltdown, Realius and Zip Realty have combined forces to create “Price Me Now”.  Think one part Google, two parts Zillow.  This prediction market asks average Americans to guess the sales price of home in Boston and Bay Area.  Game players who most successfully pick the sales prices get IQ points.  Playing off of one’s desire for “cred”, Zip and Realius are reaping the rewards of unparalleled data.  Then of course, the educated real estate buyer can take advantage of Zip to buy said property outright.

 Its an alliance the provides even more power to the people….at a time when those in real estate are feeling particularly powerless.  Realtor beware.  James Surowieki would be so proud!  If the rollout goes as planned, “Price Me Now” may be coming to your neck of the woods.

Google is certainly paying attention.  Care to map out their next move?

 

©2009 Peacock Nine • Powered by Wordpress.