If you want to know how much your house is worth without having to contact a real estate agency or pay €150 to a bank, then Urbiwise could be the answer.
This new online platform was launched recently and aims to be a helpful tool for anyone who wants to receive a free assessment of their property’s market price.
According to Jornal de Negócios, anyone can use Urbiwise by simply inputting their house’s zip code, how many rooms it has and its size. The platform then generates an estimate of the property’s market price using around 1,000 sources of information, some of which are not accessible to the general public.
But while this may be the service that appeals to most people, this is not how Urbiwise plans to make money.
The platform says it can provide real estate agencies with detailed information about the services that are available near a certain property.
Urbiwise also plans to “sell data” to companies and carry out “personalised reports based on the needs of the client”.
In other words, Urbiwise can advise clients – such as insurance companies, telecommunication providers and many others – which are the best areas to promote their services.
“We are already negotiating with big clients,” co-CEO Pedro Martins told Jornal de Negócios, revealing that the company is in negotiations with three to four potential clients.
Urbiwise currently employs 10 people although the plan is to bump this number up to 25 by 2020. The company also plans to expand to France and Germany next year.