To calculate the Realo Estimates®, Realo developed a complex system that uses publicly available data about homes (and neighbourhoods) and specific information about homes provided by the owner or real estate agent.
The estimate is based on three types of information:
Information about the property itself like the habitable floor area, the number of bedrooms and bathrooms, the construction and renovation year, the energy efficiency and the presence of a pool or sauna.
Information about the neighbourhood, like the average selling price of properties in the past year / months and the average price per square meter land
Information calculated by Realo like the M Score (mobility score) with the distance from the property to public transport, schools, highways, etc.
The technology behind the Realo Estimate® is self-learning and gives more accurate results every week.