The AI-powered platform allows comparisons of sales price data in the Montreal, Laval, and Montérégie regions
Start-up Qube Realty has announced the release of its new AI-powered online platform designed to help Quebec residents estimate home values and compare these to residential sales prices in the Montreal, Laval, and Montérégie regions.
Qube said that it has spent the last two years building the instant home valuation technology and map of sold-prices. The platform is available for public use with no cost or obligation, the firm said.
The platform stemmed from a need for historical sold prices and home estimates – data that are difficult to acquire in Quebec, the company said.
“Since the data is government-owned, it is difficult to navigate and must be purchased,” Qube said. “As a result, there have been very few attempts to compile this relevant and helpful data in one place.”
Read more: What’s driving the Quebec housing market?
Precise data that has been made accessible to Quebecers include sales prices of broker-facilitated transactions, as well as those sold through other methods, Qube said.
“We use neural networks and different levels of machine learning to create an industry-first algorithm to give home values,” said Nicola Ricciardi, the head designer of Qube’s platform. “Our intentions are primarily aimed at reducing the error margins. Some home valuation technologies have up to 30% margins of error, and we believe this is just unacceptable.”
