RedDoor Mobile App Makes Waves in Toronto's Real Estate Market

The app shares crowdsourced home sold prices helping Torontonians find their next purchase

TORONTO, May 16, 2016 /CNW/ - With data on 130,000+ homes and growing by the week, RedDoor is creating Toronto's largest publicly-available crowdsourced mobile database!

Crowdsourced Home Sold Data
Historically Toronto home-sold prices are available only to agents. This and other important elements of real estate data were not easily accessible by average Torontonians.

"RedDoor takes this challenge and turns it on it's head by allowing people to input what they paid for their homes. Hundreds of home sold prices were entered in the first few days of the app being live on the App Store." said Adrienne Scott, RedDoor's Co-Founder & CEO.

Mobile Taking Over Real Estate
Mobile apps are quickly becoming one of the most common ways for buyers to search for properties and learn about real-estate, outpacing internet searches, which have slowed in growth.  More people use real estate apps than attend open houses – a sign of the times, and causing some disruption to an old-fashioned business model.  Real-estate mobile apps in the US are strong and growing, led by Zillow, and starting to spill-over into Canada.

Launch Makes History
RedDoor is Toronto's newest entrant in the real-estate mobile app space, and it had a historic first week on Apple's Canadian iTunes store.  With almost 2,000 downloads in the first few days, RedDoor is set to beat records for the most-downloaded new Toronto real-estate app in history.

Competition Tribunal Rules Against Toronto Real Estate Board (TREB)
"We couldn't have timed this better" said Scott, in reaction to the news that Canada's Competition Tribunal recently ruled against TREB. "We think consumers win when they have more access to information". 

More About the RedDoor App
Whether you are a first time home buyer, or a seasoned real-estate investor, RedDoor allows you to better understand the Toronto market. Our data allows you to analyze your home or condo's current comps, while allowing you to estimate any home's average monthly expenses including property taxes.

Female-led and Toronto-born, RedDoor is your trusted mobile real estate hub for people to learn, share and get strategic about their housing financials.

Armed with our data, you will ask better questions of yourself, your agent or your trusted advisors.  And, by "our data" we really mean OUR data: yours and ours. Because RedDoor leverages a strong community of like-minded people who believe we are better with more information. By sharing home-sold data with each other, we collectively benefit. And each time data is shared, our corporate sponsors donate to a local charity.

Further Information on Facebook
iTunes Link: http://apple.co/255SCqI

SOURCE RedDoor App

Image with caption: "RedDoor App: Toronto's Crowdsourced Real Estate Community. (CNW Group/RedDoor App)". Image available at: http://photos.newswire.ca/images/download/20160516_C4812_PHOTO_EN_691027.jpg

For further information: Adrienne Scott - Adrienne@reddoorapp.com, or call 416-300-7390


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