Plunk — the first real-time analytics platform for residential real estate — today announced that the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) has made a strategic investment into the company founded by data science luminary Brian Lent and mobile technology pioneer David Bluhm.
“We need to leverage new technologies such as AI and machine learning to bring our industry forward and empower our members with the data and tools that give them authoritative advantage,” said C.A.R. President Otto Catrina. “Plunk allows REALTORS® to provide their clients with unmatched guidance on their most important financial investment.”
To date, REALTORS® have not been able to access real-time market metrics or more advanced tools for analyzing property values – such as local market trends, remodeling advice, or image analysis. Plunk runs an independent model on every home in the U.S. to track its current value, forecast its remodeled value, and track the performance of its local market – all in real time. REALTORS® can offer more comprehensive and precise advice to their clients.
Markets for other asset types such as stocks, bonds, and commodities have long relied on real-time data and a broad suite of analysis tools. Real estate, on the other hand, has always been limited by the lack of timeliness, accuracy, and accessibility of real-time data.
“This disparity in information availability has helped create the perception that real estate markets are somehow less dynamic and responsive,” added David Bluhm, Co-founder and President, Plunk. “We are proving this is fundamentally untrue.”
Plunk built a next generation approach to home valuation called Dynamic Valuation Model™ to track and update an individual home’s value in real time.
“We continually look to invest in companies that can ensure the success of our more than 217,000 members,” added Catrina. “Plunk’s real-time and dynamic home analytics empower our REALTORS® to become their clients’ most trusted home and market expert.”
Plunk is an advanced analytics company revolutionizing the way homeowners, home experts, and investors value and invest in residential real estate — through the next-generation application of Artificial Intelligence, machine learning, and image analysis. Plunk’s analytics empower REALTORS and residential real estate professionals to be authorities on home value — turning agents into trusted financial advisors and their clients into lifetime customers.
Leading the way… in real estate news and information for more than 117 years, the CALIFORNIA ASSOCIATION OF REALTORS is one of the largest state trade organizations in the United States, with more than 217,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.