The other day I randomly looked to see if Realius still existed (see this, this, and this). It doesn’t. For those of you that never played with Realius, it was a game that allowed people to guess the value of homes. I was always a fan of the product’s potential. Like so many other startups, they could never get enough distribution to realize their potential.
Yesterday, I saw the article in the Las Vegas Review Journal about the Exactimate (I’m not a fan of the branding, first of all because it’s false. There is no possible way to get an exact value except on the day a buyers signs paperwork with a dollar amount on it). That said, the concept certainly has legs. Opinions of value by agents are likely to be more accurate than Zillow more often than not.
I really truly believe something incredibly interesting is going to come from the CMA space (see my marketplace of public CMAs post). Why those in the industry who make big investments aren’t doing something along these lines is beyond me.