Mar 12, 2019
Listen in as I interview Bryan
Copley, Co-Founder and CEO of CityBldr in Seattle, Washington.
Most automated valuation models attempt to determine the
value of real estate in its present use. As Bryan and his
co-founder worked their way through two previous residential real
estate technology startups, they learned that there was an
opportunity to use technology to discover value in the shadow
inventory of properties that might be for sale “at the right price”
and that builders, developer and investors were very willing to
trade-in the historical manual process of determining the “what
could be” valuation for a model that can replace that process in
- Bryan’s first real estate startup, Real Estate
Buyers Listing Service, attempted to aggregate the demand side of
the residential real estate market and discovered that a key
missing piece was the presence of the human broker to manage the
next startup, Everyhome, attempted to expand the market of homes by
exposing more properties to buyers by putting a digital “for sale”
on every home in the country and allowing buyers to make bids on
homes even when they were not listed.
and his team learned that most users of Everyhome were investors,
builders, developers and others involved in commercial real
also discovered that there was another way to underwrite the value
of properties, that being what a property (or multiple properties)
might be worth based on highest and best use.
- Citybldr’s technology uses machine learning to
- Citybldr does not license their technology.
Instead, they partner with traditional brokers, builders and
developers who are putting deals together and are paid a portion of
the commission income that is generated as part of those
facilitate the creation of assemblages by allowing potential
sellers to create groups of sellers via their website.
- CityBldr’s mission is to help to create happy,
functional sustainable communities. There is the potential for
CityBldr to provide a social good by optimizing how cities are
developed and re-developed by leveraging underdeveloped properties
to meet the increasing need for affordable housing