• Reali App Expands with Innovative PricePredictor™ Tool •
Today we are announcing the launch of the Reali PricePredictor™, a new AI-powered tool that predicts the probability of placing a winning offer on a home.
Reali, a real estate technology company transforming home-buying and selling, today announces the release of an AI-powered tool that predicts the probability of placing a winning offer on a home. The PricePredictor™ reduces the amount of guesswork required to determine a home’s ultimate selling price and shows buyers the estimated probability of what a home will sell for at a range of bids.
One of the biggest frustrations buyers face is determining the true selling price of a home. Reali’s PricePredictor™ goes a step further than existing tools that estimate a home’s value to predict its actual selling price. For example, homes in the Bay Area are often intentionally underpriced to spark bidding wars and buyers are often outbid even when placing offers over the asking price.
It’s a painful process and many home buyers have placed multiple offers without success. In these cases, the PricePredictor™ helps predict the true selling price of the home and shows buyers how much over the asking price they should offer. Outside the Bay Area, where pricing is more transparent, the PricePredictor™ helps buyers save money by showing them how close to the listing price they could get without overbidding.
We believe the Reali PricePredictor™ will help more buyers place successful offers because it offers up probabilities of winning a home at various offer prices and shows you what your offer should be to win that home.
About Reali PricePredictor™
Our global AI team designed the tool after hearing from dozens of home buyers in competitive markets who placed multiple offers without success. One of the biggest frustrations buyers face is determining the true selling price of a home. To address this problem, we designed an innovative tool that goes a step further than existing tools (that only estimate a home’s value) and predict its actual selling price.
So how does it work?
When you’re browsing for homes in the Reali app, just look for homes with the PricePredictor™ tag and click into the home and tap the circular PricePredictor™ icon. Once the tool is launched, slide the percent slider to see the estimated probability of what a home will sell for at various offer prices.
Expanding the Reali App
The PricePredictor™ picks up where competitor estimator tools leave off. Reali’s AI team designed the tool to give buyers an intelligent way of looking at a home’s ultimate selling price where traditional estimators focus on leveraging information for sellers and offer one static number. It’s also an interactive experience. Buyers launch the feature from within the Reali app and use the percent slider to see a range of suggested offer prices based on their willingness to assume risk above or below a home’s listing price.
“We want our customers to maximize their chances of a successful offer,” said Amit Haller, Reali CEO. “The more you know about the home’s predicted selling price, the better off you’ll be in making an optimized offer. There are many apps and tools for home discovery or to determine the value of a home. But with the Reali app, buyers get AI-powered price predictions backed up with licensed Reali Experts to boost their efficiency and chances of a successful home-buying journey.”
One in four Reali buyers have used PricePredictor™ to predict the probability of placing a winning offer on a home.
Reali is on a mission to change the way people experience home buying and selling. We offer cash back to buyers instead of commission, and cash savings to sellers thanks to our flat seller fees. Keep in touch at http://www.reali.com or download the Reali app for iOS and Android.