HonestDoor.com officially launched 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 neighbors. 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:
As of today's launch in Edmonton, HonestDoor.com features the following free information for each property:
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.