Kelley Blue Book Launches Home Valuation Platform

Kelley Blue Book, a company recognized for its automotive valuations, has entered the real estate market with the launch of Kelley Blue Book Homes. This new platform provides homeowners with free, data-driven home valuations and offers real estate agents subscription-based access to seller leads. The initiative is a joint venture between True Footage, a firm specializing in valuation and appraisal technology, and Cox Enterprises, the parent company of Kelley Blue Book. True Footage had previously secured $40 million in Series C funding in April, with Socium Ventures, part of Cox Enterprises, leading the round.

John Liss, CEO of True Footage and the leader of Kelley Blue Book Homes, stated that the company has been supplying appraisal technology to leading appraisers nationwide through True Footage. He highlighted the platform's advanced analytics and tools, such as TrueTracts, designed to generate highly accurate and comprehensive property valuations. Liss expressed a desire to make these tools accessible to consumers, noting that existing options often lack accuracy or may have conflicting incentives regarding property pricing.

The Kelley Blue Book Homes platform is now available to consumers and real estate agents in 10 U.S. states: Arizona, California, Colorado, Florida, North Carolina, Nevada, Oregon, Texas, Utah, and Washington. The company plans to commence seller marketing services and lead distribution on August 1. Real estate agents can acquire marketing rights for specific ZIP codes and gain access to homeowners who request valuation reports within those areas. Liss indicated that the platform employs a rigorous screening process for agents, evaluating factors such as their closed sales volume, average days on market, and sale-to-list price ratios.