HonestDoor launches new era in real estate price information and transparency
HonestDoor.com, the first website in Canada featuring the sold price of homes and condos, kicked off today in Edmonton and will soon expand nationally
EDMONTON, May 28, 2019 /CNW/ - HonestDoor.com launched today in Edmonton, giving home buyers and sellers the information they want – including the last sold price of all residential properties in the city – to make the right offer on their dream home or to ensure they are receiving a fair price for a home they are selling. As part of the unprecedented amount of free, detailed property information available on the website, daily updated price estimates appear for each property using a proprietary machine learning valuation model called HonestDoor Price.
HonestDoor is the new starting point for real estate buyers, sellers, investors, future investors and curious neighbours. The website provides them the freedom and transparency to find what a home last sold for before making buying and selling decisions, and prior to contacting a real estate agent.
"HonestDoor was born out of my own frustration when searching for properties to buy," said Dan Belostotsky, founder and CEO of HonestDoor. "It seemed wrong that consumers didn't have access to the information they needed to make informed decisions when this information had been available to Americans for years.
"Now, Edmontonians can find that information at their leisure and free of any pressure to make quick decisions."
HonestDoor to expand nationally
Based in Edmonton, HonestDoor plans to expand to Calgary, Winnipeg, Vancouver, Toronto and other cities across Canada. HonestDoor joins a growing wave of real estate technology companies in Canada, often referred to as "PropTech" companies. They include Zillow Canada, Redfin and Purplebricks.
What are homes selling for in my neighbourhood?
HonestDoor encourages Edmontonians to visit the website to:
- Check the HonestDoor price (home estimate) of their own as well as other neighborhood homes
- Check the last sold price(s) of neighbourhood homes or filter for most recently sold (2018-2019)
- Look at neighborhood growth rates
HonestDoor features
As of today's launch in Edmonton, HonestDoor.com features the following free information for each property:
- Last sold price of a property (residential and commercial)
- HonestDoor Price – the latest price estimate for a property
- Neighbourhood growth rate
- Annual property taxes on the property
- Permit data
- Transaction history
HonestDoor will add new tools and information over the coming months.
HonestDoor works with a team of data scientists at the University of Alberta. The HonestDoor Price Tool changes pricing every day or as variables dictate, using the latest data and inputs to provide the most accurate price estimate.
HonestDoor has been self-funded and will seek new partners and investment to grow its service and expand across Canada. For more information visit honestdoor.com.
About HonestDoor
HonestDoor.com is your real estate starting point. Based in Edmonton, Alberta, HonestDoor is the only free source for sold prices of real estate and real-time price estimates in Canada. The company's mission is to help consumers across Canada make the best real estate decisions with up-to-date, accurate information about residential and commercial property pricing.
About the founder
Dan Belostotsky is a serial entrepreneur based in Edmonton. In his early 20s, Dan co-founded a digital billboard and media company that was acquired by The Jim Pattison Group, one of Canada's largest companies. He later partnered with Cieslok Media, which was acquired by Bell Media. He continues to invest in businesses and real estate through his private investment company, Otto Capital. Dan is a Venture Partner with Panache Ventures, Canada's most active seed-stage venture capital fund. He is a mentor with Venture Mentoring Service of Alberta, helping entrepreneurs across Alberta.
Additional Quotes:
"Technology is changing real estate and HonestDoor is the next stage in the PropTech revolution, allowing people to take charge of their own data and make buying and selling decisions based on the best data available." – Kyle Campbell, an Advisor to HonestDoor and co-founder of Retsly, acquired by Zillow in 2014
"HonestDoor is a prime example of Edmonton's growing expertise in machine learning and artificial intelligence (AI) and I am pleased to help the company expand its offerings to consumers and businesses." – Ashif Mawji, an Advisor to HonestDoor, Venture Partner at Rising Tide and serial entrepreneur, investor and community builder.
SOURCE HonestDoor
Media Contact: Jim Rudolph, Cell: (780) 690-5166, Email: [email protected]
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