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Kelley Blue Book launches home valuation platform aimed at seller leads
The new venture pairs an automated valuation model with seller intent to deliver listings, and analysts say it could be watched closely by Rocket Companies and other mortgage servicers.
HousingWire reports that Kelley Blue Book has entered residential real estate with Kelley Blue Book Homes, a home valuation platform built to combine consumer valuation with seller-intent lead generation for real estate agents.
Consultants quoted by the outlet said the product is best understood as competing less with portals like Zillow and more with mortgage servicers and large housing platforms that already contact homeowners with valuation offers for potential refinancing, HELOCs, or sales.
HousingWire also noted that the effort is a joint venture involving the valuation and appraisal technology firm True Footage and Cox Enterprises, the parent company of Kelley Blue Book.
Analysts said Rocket Companies, which bought Redfin and mortgage servicer Mr. Cooper, is among the firms likely to track whether a human-aided, valuation plus seller-intent model can generate listings and expand sales pipelines.