Zoopla.co.uk - revolutionary new website set to transform the UK property market
15th Jan 2008
Providing FREE, instant home value estimates and much more...
Zoopla.co.uk, a revolutionary new property website, is set to become the must-use resource for everyone interested in the property market by offering all the information and tools necessary to help UK consumers make smarter property decisions. Zoopla provides free, instant value estimates on any home together with recent sold prices and allows users to list homes for sale free and make offers on ANY home, whether on the market or not.
Ever wondered how much your friends' or boss' homes are worth? It's natural to be intrigued by property prices but, short of organising valuations behind their backs, it's unlikely you'll ever find out. That is until now...whether buying, selling or just curious, Zoopla.co.uk satisfies the voyeur in all of us by providing free, instant value estimates on over 26 million UK homes, along with recent sold prices and much more, all in one place...so go ahead, Zoopla it.
Zoopla Estimates are the most accurate automated value estimates available in the UK and are calculated using a proprietary algorithm (secret formula) developed by analysing millions of data points relating to property sales and home characteristics. As a community website, Zoopla.co.uk allows users to refine their estimates and input data to help the valuation tool learn and get more accurate over time.
Another exciting feature of Zoopla is the ability for potential buyers to make offers on ANY home, whether they are currently for sale or not. By making TemptMe Offers, buyers can try to entice owners to consider selling. Owners also benefit from this unique feature by being able to dip their toe in the water without listing their homes for sale. By setting a TemptMe Price - the magic number that they might be willing to consider - owners can test the interest in their home by telling the market what that figure is.
And if you want to find out more about any home or neighbourhood that you're interested in, the AskMe community feature on Zoopla allows you to post any questions you like for those in the know to answer. Zoopla.co.uk is a community website that encourages its users to add content and share information - all with the aim of helping consumers make more informed property decisions.
Alex Chesterman, founder and CEO of Zoopla commented: "Zoopla has been created to transform the way users find, track and market homes in the UK by providing free information and tools to empower them. We have designed our services with the aim of creating a transparent marketplace and believe that information should be free and easily accessible to everyone. Zoopla is the UK's first community property website where all users can view and share information."
What are you waiting for? Visit www.zoopla.co.uk to get an advantage in property today.
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For further information, please contact PR Team on pr@zoopla.co.uk or +44 (0)20 3873 8770.
Notes to Editors:
What is Zoopla.co.uk?
Zoopla is a revolutionary online publishing service and community website providing information and tools to give users an advantage in the UK residential property market. Our aim is to create a transparent marketplace and we believe that information should be free and easily accessible to everyone.
How did it start?
In early 2007, following the success of bringing DVD rental to the internet with LOVEFiLM.com, Zoopla founders Alex Chesterman and Simon Kain realised that the internet had yet to deliver meaningful change to the UK property market. It became clear that consumers lacked essential tools and information to help them understand home values, view similar properties, learn about past transactions...
...and then we thought:
- Why not offer users a tool to get access to FREE, instant value estimates on their homes or anyone else's?
- Why not let buyers make offers on ANY home, instead of just the 4% of homes currently on the market 'for sale'?
- Why not let owners find out if there is any market interest in their homes without having to list them 'for sale'?
- Why not let agents and sellers market their 'for sale' listings FREE by providing them with easy-to-use tools?
- Why not let anyone ask/answer questions and share their knowledge about any homes or neighbourhoods?
- Why not put current value estimates, sold prices, homes for sale and local information all together in one place?
So, we have started by providing FREE value estimates and sold prices on homes, allowing sellers and agents to list homes for sale FREE, and letting all users edit information and upload photos. We have also launched some unique features, like TemptMe™ and AskMe™ which allow users to gain an insight into the market and discover information they won't find anywhere else.
Value estimates
Our value estimates are calculated using a proprietary algorithm (secret formula) that we have developed by analysing millions of data points relating to property sales and home characteristics throughout the UK. The algorithm works by comparing relationships between home prices, economic trends and property characteristics in given geographic areas. Our estimates are constantly refined by our team of analysts, using the most recent data available and a variety of statistical methodologies, in order to provide the most current information on any home.
Zoopla Limited is a privately held company, backed by leading international venture capital firm Atlas Venture.