HonestDoor, an Edmonton-based SaaS company with a platform aimed at helping home buyers and sellers get a fair price on their next home, has officially launched its product in Calgary.
“Our mission is to provide free and instant real estate transparency to everyone.”
– Dan Belostotsky
HonestDoor offers home buyers and sellers multiple data points on their next home, including the last sold price of all residential properties in Calgary, to ensure each user is getting a sensible price. The company was founded by Dan Belostotsky, a venture partner at Panache Ventures, which recently closed its first venture fund at $58 million.
“We are excited to offer Calgarians the easiest way to access all the information they need to make the best decisions about keeping, selling or buying a home,” said Belostotsky. “Our mission is to provide free and instant real estate transparency to everyone, then to provide analytics and predictions to help people with their decisions and, in the near future, to help them buy and sell property.”
HonestDoor’s tool offers its users access to all property data points for free, some of which include assessed price history, daily price estimates, permit data, transaction data, and neighbourhood growth rates. The company plans to use machine learning and other data analytics tools to add more information to its platform.
Belostotsky joined Panache in March 2018 to help the firm establish a presence in Edmonton. He launched HonestDoor after buying his own properties for years, having access to data that was otherwise inaccessible to the public. The startup has plans to expand the platform to cover the rest of Alberta, and eventually, all of Canada. HonestDoor said it is currently working with investors and advisors on this national expansion plan.
“HonestDoor is a prime example of Edmonton’s growing expertise in machine learning and artificial intelligence and I am pleased to help the company expand its offerings to consumers and businesses,” Ashif Mawji, an advisor to HonestDoor and venture partner at Rising Tide, said when the company first launched in May. Other advisors to the company include Panache’s Patrick Lor, and Kyle Campbell, co-founder of Retsly, acquired by Zillow in 2014.
The next stage of features for HonestDoor will reportedly include future price projections on each home and identification of homes and neighbourhoods likely to appreciate more quickly, HonestDoor said.
Image courtesy HonestDoor via Facebook