Honely is excited to announce the start of a new partnership with NeoZips, an Irvine startup that provides Korea-based clientele an end-to-end service for investing in American real estate.
Honely will provide important analytics to help fuel NeoZips’ robust, digital “property management system.” Its purpose is to provide a way for NeoZips’ clients to monitor the economic status of their current investments and to potentially locate new investment opportunities. Honely uses advanced AI and machine learning models to produce accurate, predictive analytics for the entirety of the U.S. residential real estate market.
Using Honely’s AVM, NeoZips will be able to instantly show its clients what their investment property is worth today, whether the home is on or off market. Other popular AVMs struggle to accurately estimate a home’s value when it’s off market because they heavily rely on listing prices. Honely’s model’s accuracy is more consistent as they weigh thousands of data points outside of the property’s features and listing price, such as macroeconomic indicators and real estate indices. Accurate home-value estimates for off-market homes are critical for NeoZips as many of their clients already own one or more investment properties. Armed with accurate AVM data, investors can make a wiser decision on whether they should sell their property now or continue to hold.
NeoZips also plans to leverage Honely’s innovative future-value data. Honely is able to estimate what a home will be worth anywhere from 3 months to 3 years into the future. This unique data will allow for NeoZips clients to remain ahead of the curve when it comes to future market changes. Through its “property management system,” NeoZips investors will be able to monitor the rolling changes to their investment property’s value by simply searching its address, similar to how a stock investor is able to view the changes to a stock’s value by searching the ticker via a mobile application. Honely’s future value estimates are available on over 100 million homes and will also be used to help investors locate neighborhoods and properties that are primed for growth.
Through teaming up with Honely, NeoZips proves its commitment to keeping their clients informed and involved with their investments. NeoZips’ digital “property management system” will become available to its clients by February of 2023. It will serve as a first-of-its-kind and innovative platform for real estate investing.
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