Qube Realty, a Montreal real estate start-up, is offering instant home valuation technology and a map of sold-prices in the province of Quebec. The company says it took two years to develop the technology, which is now available to the public at no cost or obligation.
“Quebec has always been at a serious disadvantage when it comes to real estate technology,” says Qube Realty in a news release. “Unlike the United States and many other Canadian provinces, historical sold prices and home estimates are difficult to acquire in Quebec, and even more difficult to have in one place. This is because real estate information such as sold values of homes is not easily accessible in Quebec rather than being publicly available like in the United States. Since the data is government-owned, it is difficult to navigate and must be purchased. As a result, there have been very few attempts to compile this relevant and helpful data in one place.”
Qube Realty says it “has taken it upon themselves to provide Quebecers with historical sold home values in Montreal, Laval and the Monteregie area in an easy and interactive way. This includes data from people who sold using a broker, but also those who sold through other methods.”
The company’s website offers instant on-line home valuation of any home in the Montreal, Laval, and Monteregie areas, as well as the sold prices of all homes in those areas after 2020.
“We use neural networks and different levels of machine learning to create an industry-first algorithm to give home values,” says Nicola Ricciardi, the head designer for Qube Realty. “Our intentions are primarily aimed at reducing the error margins. Some home valuation technologies have up to 30-per-cent margins of error, and we believe this is just unacceptable.”