The folks behind the RealtyThoughts weblog today launch eppraisal.com, a Zillow-like Automated Valuation Method promising results for 70,000,000 homes. The site is wicked clean, but it wasn’t wicked fast — but I’m willing to cut ’em a break on the assumption that they’re seeing a lot of first-day traffic.
Differences from Zillow:
- Runs on Safari
- No ads
- Looks like the business model will be lead generation
- Produces a range of values instead of a dubious Dr. Science Zestimate
- Likes my house better than Zillow does
The eppraisalites (sounds biblical, don’t it?) will be in New Orleans signing up Realtors for the lead generation part of the product.
Give it a try. Same elaborate promises, but without the troublesome lawsuits…
Technorati Tags: blogging, disintermediation, real estate marketing
Erik says:
Hey Greg, thanks for the write-up. We are having some server issues – I’m beginning to think it’s just a trendy thing to do upon launch of a new app. 🙂 Hopefully we’ll have that figured out for next week’s full launch at NAR.
“eppraisalite” sounds like I’m a zealot…
October 31, 2006 — 6:29 pm
CJ, Broker in L A, CA says:
Erik, I would like to play around with eppraisal some more. But I really hesitate to fill in information on a registration form. If I do, you’re not going to sell me off as a “lead”, are you? I don’t want to receive emails or phone calls from some pesty salesperson.
October 31, 2006 — 7:29 pm
Athol Kay says:
LOL. I’m sure Appraisers are just *loving* the name of it. I call lawsuit/legal issues within 6 months on the naming issue.
Tried it and it just returned “Unable to Return Value” on my current house. Gave a $207,000-280,000 range on my old house which went for $203,000 a few months back.
Zillow does my old house at $210,000, and my current house at $597,000. Which I’m sure you agree is just a tad over the $287,000 we brought it at.
Seeing valuing a house is seeingly beyond human programming skills, I’m starting to lose faith that robots will become self aware and enslave us
October 31, 2006 — 7:35 pm
Erik says:
@CJ, Feel free to play around with it. When we do institute our “virtual handshake” with a certified real estate professional, it will be an assignment to only one. This won’t start happening until after NAR next week anyway. Also, you don’t have to do business with them, and professionals who we receive an inordinate amount of complaints about will be dropped from our system.
November 1, 2006 — 6:38 am
Dave Barnes says:
Better than Zillow on the estimate for my house.
But, how useful is a range of 577K$ to 771K$?
But, 5 of 6 comps are from the wrong side of the street. We live in a neighborhood with a large difference between prices on one side of University blvd and the other.
Easy to use.
But, I still would pay a human to do a real appraisal as I feel their report would be more accurate.
,dave
November 1, 2006 — 6:44 am
REBlogGirl says:
Greg, thanks for this write up. Loving this site. You’re right, not “wicked” fast just it is “wicked” cool. I’m in Boston today, so your lingo just feels right! I am waiting with anticipation to see what these guys do with this and will definitely introduce myself in New Orleans…
November 1, 2006 — 7:26 am
Erik says:
Dave, we’re hoping you’ll use a real estate agent or a professional appraiser to get the full report on your house as well. That’s our whole business model in a nutshell.
November 1, 2006 — 9:19 am
Galen says:
The need to log in to get any details is sort of annoying. The comparison is unfair (it’s a very nice site), but is it a kinder, prettier and more informative HouseValues?
November 1, 2006 — 5:32 pm
Lee Ovington says:
Looks like Eppraisal has learned some lesson from Zillow.
http://valuation411.blogspot.com/2006/11/eppraisal-younger-wiser-mouse.html
Lee
November 8, 2006 — 8:10 am