Well it’s official, last week FNRES (Fidelity National Real Estate Solutions) launched “Cyberhomes” lead by Marty Frame, former Realtor.com chief information officer. Now Marty is the Sr. Vice President / Chief Information Officer for FNRES.
The new FNRES product “Cyberhomes” is going to be the newest and hottest valuation tool on the Internet for a consumer. With Cyberhomes having access to IDM and Hansen Data it’s sure to dominate over tools such as Zillow, House Values and Real Estate ABC. For example, as I understand it, Cyberhomes has access to over 100 million property records compared to Zillow who has around 67 million. Cyberhomes will also be updating more than 575,000 new ownership records every month.
The valuation data derived from Cyberhomes is based on the AVM Fidelity has been refining for years, most recently know as “Value Your Home.” With Cyberhomes valuation, the volume of data is amazing, but even better is how the consumer can include adjustments on things they know are positive or negative about the home, neighborhood, or even the community.
The tool also boasts upwards of 18 dynamic graphs detailing the property and its comparables, property in the neighborhood and key market fundamentals. I should also mention these graphs do not look like the Value Your Home graphs. They’ve reinvented the visuals, the graphs are now colorful and dynamic. Users can change the time period on the fly.
Like Zillow and others this tool will be free for the consumer. However, unlike its closest competitors Cyberhomes also promises to be a lead generation tool for REALTORS. Brokers will have the option of having their listings show up on the tool. This is much easier than Trulia who requires the broker to setup a live feed to communicate inventory. With these lead generation aspects, Cyberhomes promises to be REALTOR friendly.