Plunk’s repair and renovation analysis tools will serve investors who frequent Xome, which also markets nontraditional listings, such as auctions, foreclosures and other investor-minded assets.
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Plunk, an artificial intelligence-supported software solution for home valuations and marketing, has entered into an agreement to provide services for real estate search experience Xome, Inman has learned.
In an Aug. 22 announcement, Plunk said its repair and renovation analysis functionality will serve especially useful to investors who frequent Xome, which also markets nontraditional listings, such as auctions, foreclosures and other investor-minded assets.
“Plunk enables investors to make more fully informed, confident decisions,” said Brian Lent, co-founder and CEO of Plunk, in the announcement. “Xome is already one of the world’s largest home search and investment property resources, and now investors have access to the best search, valuation and renovation analysis tools — all on one website.”
Plunk introduced itself to the market as a tool for determining home renovation value, using hyperlocal labor cost breakdowns, national material costs databases and extensive market analysis to fuel an ROI estimate for homebuyers, aspiring sellers and the agents working with them. The company has steadily evolved into a comprehensive property valuation solution, offering its multifaceted API to a wide range of proptech partners and its web experience to a wide range of real estate industry stakeholders.
On Aug. 8, Plunk unveiled its latest, Plunk Pro, an extensive offering focused on real estate professionals who function outside of the buy-and-sell ecosystem, such as investors, lenders, underwriters and insurance providers.
Plunk’s algorithm dynamically processes information on more than 104 million U.S. homes, churning that data into actionable insights for users. Its applications are many, ranging from predicting a home’s value after a primary bathroom renovation to pinpointing specific reasons for local home price differences, allowing agents to be better informed, faster.
“We’re on a mission to unlock confident investing in the largest asset class in the world, leveraging next-generation applications of AI and deep learning,” said Lent in August.
Clearly, the Xome affiliation overlaps with Lent’s stated mission.
Investors using Xome to unearth auction deals can analyze properties in greater detail leveraging Plunk’s Remodel Value tool, which helps users determine after-repair value, including large-scale renovations.
Buyers can also view Project Recommendations, which highlight the remodeling projects that would add the most value to a specific property, according to the announcement.
Xome CEO Mike Rawls said in a statement that the new relationship will become a quick value-add for his site’s users.
“With these new tools, Xome clients can examine a variety of potential scenarios as they consider both the costs and value impacts of full rehab or smaller home-improvement projects,” Rawls said.
Plunk’s API is working for a number of its colleagues in proptech, namely Mosaik, Milestones, DropOffer, Roomvu and Spherebuilder, among others. It also powers valuation tools for The MLS in Southern California.
In an Inman review, Plunk was described as mature beyond its relative launch date, “polished, engaging and able to distill vast amounts of property intelligence to help its users arrive as close as possible to what a home may go for on the open market.”