Kelley Blue Book Homes opens to consumers in 11 states
The company said its new platform, which launched for agent applicants last month, aims to provide property valuations within 3% of a home’s final sale price.
Just a few weeks after moving into the home valuation business, Kelley Blue Book is officially opening its new service to consumers in several U.S. states, with plans to complete the platform's national expansion by early 2027.
The brand known for assessing the value of new and used vehicles said Kelley Blue Book Homes is intended to give consumers confidence while seeking a value estimate for their home.
An 11-state roll-out: In its Aug. 3 announcement, the company said Kelley Blue Book Homes is now available to consumers in Arizona, California, Colorado, Florida, North Carolina, Nevada, Oregon, Texas, Utah, Idaho and Washington.
The platform launched last month for real estate professionals, who can apply to become a Kelley Blue Book Homes Verified Agent via the company's agent-facing website. Applicants are assessed and placed on the platform based on their sales volume, sale-to-list ratio and other "performance metrics," Kelley Blue Book said.
Aiming for accuracy: Homeowners may encounter varying home valuation estimates before selling their home — some of which miss the mark by double digits, the company claims. But Kelley Blue Book Homes' neighborhood data, powered by appraisal firm True Footage's "TrueTracts" technology, is designed to estimate a home's value within 3% of its final sale price, the company said.
True Footage's data factors in seasonal housing market fluctuations, a property's condition and neighborhood-level pricing context. Kelley Blue Book Homes also considers homeowner-supplied information for its estimates, including details about home improvement projects and amenities the homeowner may have added to their property.
"At a time when many Americans are approaching retirement, considering a move to relocate, or sizing up or down, the Kelley Blue Book data distinction matters enormously," Kelley Blue Book Homes CEO John Liss said in a statement.
The platform "is designed for people to maximize their outcome through a comprehensive valuation and sales strategy with a vetted agent guiding the process," Liss added.
The bigger picture: Kelley Blue Book's move into the home valuation business could be part of a larger recent trend: companies from outside the industry dipping their toes in the residential real estate waters.
Notable examples include Bed Bath & Beyond, which entered the industry earlier this summer through its planned acquisition of Fathom Holdings, and Google, which partnered with HouseCanary in May to bring property listings to the consumer search giant.