We have recently added a new feature to RealDirect search called the RealBargain. This is an algorithm we have devised for finding homes that are priced particularly aggressively. We look for homes that have a total cost per foot that are in the bottom 20th percentile or lower for comparable homes. We exclude homes that are unrenovated, are dark, and have other associated issues. They are then flagged in our Finder so that you can easily spot them.

Keep in mind that these are not necessarily the lowest price homes in a neighborhood. A home may have a very low maintenance, but be priced in line with other homes in the area. But the very low common charge may make it a bargain. And the opposite is true as well – a home that is priced low, but with very high common charges will not qualify. And we only look for bright, renovated apartments because most buyers put “light” as their top must have, and they are typically unwilling to do more than a moderate renovation. Of course, if you are willing to renovate a dark apartment, you will find even lower cost/foot opportunities, but they are not necessarily bargains for the average buyer.

Take a look and let us know if you think this is a useful feature.

The core of our mission at RealDirect is to utilize technology to simplify the process of buying and selling real estate. With everything we do, we continue to push toward more efficient methods of matching properties with buyers. To this end, we have recently released new features which make it easier for buyers to quickly find the most suitable properties for their needs.

Buyer Survey
One way we’re helping buyers find their new home faster is through integration of our Buyer Survey with property search. Buyers wishing to receive personalized property recommendations can fill out all or part of our 65 point survey which helps define which criteria are most important in a new apartment. Our survey asks buyers questions such as which schools, parks or transit lines they wish to live near, are they willing to do renovations or live in a walk-up, and how important are these criteria. We then take all of the survey respondent’s answers and compile the data into “Must Have,” “Wish-List,” and “Deal Breakers.” This information is compared against available listings in order to recommend the most accurate matches for each buyer.

Tips

The goal of a real estate listing is to make the property seem as appealing as possible in order to get potential buyers through the door. But with the need to give a strong overview of the apartment, little details are often missed. For example, a built in bookcase in the living room, the view from the kitchen window, or a better look at the outdoor space. While the listing may not note that there’s a dry cleaner conveniently located in the lobby, this is the sort of thing that may be a selling point for some buyers. That’s why we’ve created the ability to leave tips on a an apartment or building. Anyone who visits the listing can leave a text and/or photo tip which will be shared with registered RealDirect users searching for properties. Much like Yelp or TripAdvisor, RealDirect brings a candid crowd sourced perspective to real estate.