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FREE Realas.com Property Predictions - 5% Accuracy on Average - Australia Wide

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FREE Realas.com Property Predictions - 5% Accuracy on Average - Australia Wide
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AssociatedLrealAs on 03/06/2015 - 23:23 realas.com (605 clicks)

Get a FREE realAs.com account (email registration required) to see realAs predictions for homes for sale by auction or private sale Australia wide.

Competitors charge $24.95 for similar reports, realAs.com predictions are yours FREE.

Can't believe real estate agents? Get realAs.com. Property price predictions averaging within 5% of sold prices plus reports by buyers like you.

You've found the home? Now see how much to pay.

realAs.com is a free web site and app that helps home buyers and investors find their next home.

realAs.com :

  • is a tool made by buyers, for buyers;
  • provides accurate predictions of sale prices and a forum where buyers can exchange information about individual homes;
  • uses a unique proprietary learning algorithm that has been developed over three years;
  • reduces buyer stress and saves time and money; and
  • is ‘owned’ by its community

realAs.com predictions are on average within 5% of final sale price
- 64% of predictions are within 5% of final sale price
- 89% of predictions are within 10% of final sale price
- 99% of predictions are within 20% of final sale price

realAs.com predictions are significantly more accurate than many other online valuation tools.

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closed Comments

  • [Deactivated] on 03/06/2015 - 23:26

    who are the Competitors that charge?

    • AssociatedrealAs @ realas.com on 03/06/2015 - 23:28

      RP Data (CoreLogic) charge for $24.95 for their home valuation reports. Manual (in-person) valuers charge even more. You can see our accuracy reports each week on the blog, e.g. https://realas.com/blog/3-auction-bidding-strategies/

      • mini2 on 03/06/2015 - 23:39

        Ever done a 4 way comparo of properties between yourselves, CoreLogic, Onthehouse and Pricefinder? Who got the closest to the final selling price without any manipulation on the result? i.e. those minor adjustments, add your own feedback, chop and change houses that you compare with etc.

        • AssociatedrealAs @ realas.com on 03/06/2015 - 23:51
          +1

          We would welcome a public "bake off" with a statistically representative sample of properties for sale from across Australia.

          All of our predictions are publicly available through the http://realAs.com web site for anyone to access.

          I didn't believe in the accuracy of the realAs.com algorithm at first either:

          http://www.smh.com.au/small-business/entrepreneur/the-app-th…

          Josh Rowe

  • mini2 on 03/06/2015 - 23:28

    I assumed you're using RP/CoreLogic's feed?

    • AssociatedrealAs @ realas.com on 03/06/2015 - 23:33
      -2

      We have our own proprietary algorithm which uses a combination of past sales information and current market activity - right down to the individual property.

      It helps to know how realAs.com predicts prices …

      realAs.com is based on one simple truth: It's buyers, not agents, who decide how much to pay. That's the key.

      How realAs is different is that it brings proven methods together in a new way — including crowd-sourced data (your own and other buyers' estimates) with machine learning and predictive computing (the realAs algorithm).

      It's first-in-the-world accuracy that has not been possible before.

  • Olokun on 04/06/2015 - 06:43
    +1

    I have been using realas for a few months now and even though this post is more an ad then a bargain I do advocate that it is an awesome tool for home buyers as the accuracy (at least where I have been looking) has been quiet accurate. The last 2 auctions I attended were $1K and $9K off. Where the agent quote was $100K off.

    https://realas.com/property/335333/51-Warleigh-Rd-Footscray-…

    Sold $651k

    • AssociatedrealAs @ realas.com on 04/06/2015 - 07:58

      Thanks for the feedback and good luck with your home hunting.

  • ShannonIngram on 04/06/2015 - 07:23
    +1

    Most addresses I checked didn't have any data available but the ones that did were fairly accurate. RP Data gives a lot of additional information though and my gut feel is that it's a lot more accurate in percentage terms as well.

    • AssociatedrealAs @ realas.com on 04/06/2015 - 07:55

      There are over 500,000 homes on realAs.com, 80% of them have realAs predictions.

      If you see a home on realAs without a prediction, then simply enter the agent quote &/or your estimate & we'll get one for you.

      When dealing in real estate, knowledge is king, here is our advice on how to value property: https://realas.com/blog/4-steps-value-property/

  • SmiTTy on 04/06/2015 - 09:01

    Does this only work on homes that are currently listed?

    • AssociatedrealAs @ realas.com on 04/06/2015 - 09:09
      +1

      That's correct, realAs predictions are for residential homes listed for sale by auction or private sale Australia wide.

  • Thunderchunt on 04/06/2015 - 09:27

    I just gave it a go and got "Contact Agent" and "ToCome" - what does this mean?

    • AssociatedrealAs @ realas.com on 04/06/2015 - 09:35

      That means we don't have a prediction yet. If you enter the agent quote &/or your estimate we will get you a realAs prediction.

  • atlas on 04/06/2015 - 09:35

    There's a house near me going for auction that's not listed… I also checked results for 2 houses nearby. One sold this past weekend, and the other 2 weeks ago. Neither have sales results - despite being published on other websites…

    • AssociatedrealAs @ realas.com on 04/06/2015 - 09:38

      If you find a home not listed use the contact form on the web site to let us know and we will add it in with the realAs prediction.

      We are working on some new features to make it simpler to filter out sold vs unsold homes, including the prices which homes sold for.

  • fox81 on 04/06/2015 - 12:18

    I see lots of Blue owls, but then no price listed. I wouldn't mind if this was the exception, but seems to be the majority across Brisbane.The FAQs were a bit misleading with the whole blue owl/grey owl thing. Maybe you need a 3rd colour.
    When you say strong across the east coast, this is just Melb and Syd?

    • AssociatedrealAs @ realas.com on 04/06/2015 - 12:48

      Blue owls = realAs prediction. Grey owls = no realAs prediction, but you can request one by putting in the agent quote &/or your estimate.

      For Queensland it's against the law to provide auction prices (which is another whole discussion topic), so realAs will only provide predictions for private sales.

      We will update our FAQs to make it clearer about the QLD predictions - thanks for the feedback.

      • fox81 on 04/06/2015 - 14:30

        I get blue owls and no price prediction, that was my point.

        None the less, RPData gives me price estimates for properties up for auction. My understanding was that it was illegal for the agent to give me a price indication for an auction property. No doubt you've had a good look at this though.

        • AssociatedrealAs @ realas.com on 04/06/2015 - 15:01

          If you're seeing ***'s where the price prediction is, then that means that either your account is not activated or you're not logged in.

          Shoot us an email through the contact form on the web site and we can help you out. It's quick and simple for us to manually activate accounts.

        • fox81 on 04/06/2015 - 15:09

          @realAs:
          No, I see the "ToCome" comment.

        • AssociatedrealAs @ realas.com on 04/06/2015 - 15:33

          @fox81: shoot me an email -> [email protected] with the home address and I'll check it out for you straight away.

  • bargained on 05/06/2015 - 09:36

    I come across many properties with something like the following:

    Agent Quote:
    $995,000
    realAs predicts:
    $9**,***

    Why not a more precise figure?

    • Olokun on 05/06/2015 - 10:03
      +1

      oh my

      https://www.ozbargain.com.au/node/196910#comment-2801067

      Josh, perhaps the website should be clear that users need to log in to see the price, seems people are confused with the $**** appearing and walking away thinking that RealAs only predicts to within a $100K range.

      • AssociatedrealAs @ realas.com on 05/06/2015 - 11:10

        Great feedback - thank you, we will make it more clear.

    • AssociatedrealAs @ realas.com on 05/06/2015 - 11:09

      Once you register/login to realAs (which is free) you can see the full realAs prediction.

      • bargained on 05/06/2015 - 15:15
        +1

        I did register already, but seems I failed to stay logged on. Works fine now. I agree with @olokun that you should have a message there to register/logon to see the full estimate.

      • bargained on 05/06/2015 - 15:32
        +1

        PS: I sent you a PM with question on a certain listing.

  • hsct on 06/06/2015 - 16:17

    Forget it.
    I've been watching the NSW lower north shore for the last few years. Signed up your website last week - since then I've been so tired updating the auction sale price for your database. The "predicts" price is extremely out of wack. Go and rewrite your algorithm.

    • AssociatedrealAs @ realas.com on 07/06/2015 - 22:55

      Do you have some specific examples (more than one) which back up this claim?

      realAs predictions are on average within 5% of final sale price
      - 64% of predictions are within 5% of final sale price
      - 89% of predictions are within 10% of final sale price
      - 99% of predictions are within 20% of final sale price

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