Crowd Sourcing Real Estate Pricing

Cincinnati Living Online points to Red Oak Realty in San Francisco has developed a neat application that asks game players to assign perspective sale prices. What is exceptional is that this system actively polls the populace what they think market price (sale price) should be. This is an powerful tool because i provides the perceived starting point for sellers to create a fair market value (asking price). On the flip side is give buyers information on what other home buyers and agents think the house should sell for - preventing overpayment.

Comments

[Harold]

Pretty interesting what's happening in the real estate space. I have been playing a different site, HomePredict, which was first to crowdsource prices http://www.my-currency.com/. They seem primarily focused on FUTURE zip code values but individual homes are also up for grabs.