The Newest Kid on the Block: Revaluate

There’s a new kid on the block in the real estate website world.  However, unlike your typical brokerage site that might pull data and statistics only from the MLS, and the “Big 3″ (Zillow, Trulia, Realtor.com), who rely on third-parties to provide them with similar information, Revaluate has launched, promising enhanced search via livability ratings.

What’s a livability rating?

For Revaluate, a livability rating isn’t just how close a residence might be to public transportation or the nearest grocery store. Revaluate also takes into consideration code violations, noise complaints, crime reports, utility records, expenses, zoning and more.  A Revaluate score is broken into four summary sections:

  • Quality of Life Summary:  Includes valid registration with the City (New York City), elevator repair calls, noise complaints, maintenance requests and noted issues between management and residents.
  • Expenses Summary: Includes ground leases, property tax information and utility repairs
  • Safety Summary Includes crime reports, emergency incidents and recorded safety hazards
  • Environment Summary: Includes historical and potential existing health hazards, neighborhood cleanliness, utility system information and pest control reports.

Take this address, for example:  575 Park Avenue on the Upper East Side of New York City

 

575 Park Ave, NYC

 

575 Park Avenue received a Revaluate score of 83:

 

Revaluate Score

 

And here’s how Revaluate broke it down:

Revaluate Safety and Environment Summaries

 

Revaluate Quality of Life and Expenses Summaries

 

You can also drill down deeper by clicking on anything that is underlined (hyperlinked) in blue, or by clicking on “View All Records” at the bottom of each category’s summary.

If that’s still not enough information for you, Revaluate also throws in a little “Local Culture” by showing you some famous sites and faces that might live nearby:

Local Culture on Revaluate

 

Sounds good, right?  As it’s only recently launched, Revaluate is still in beta and currently only works in New York City…Manhattan, specifically.  If, however, that’s somewhere you’re interested in living, you can sign up on Revaluate’s site for one of two plans:

 

Revaluate Pricing

 

Take a look.  See what you think about Revaluate.  I think it opens a number of possibilities in an information-hungry age, although real estate agents have to beware that their clients don’t become more informed than they are.

If it catches on in other areas of the United States, would it be a site that you would use as a real estate professional?  Do you think your real estate clients would be interested?  What if these metrics were to become available for professionals, including brokerages, to use – would you be interested then?

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