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Condopedia is Yelp + Wikipedia for NYC condos

Condopedia has launched in New York City to give residents a comprehensive resource for local condos, and they aspire to expand nationally.

condopedia

condopedia

Condopedia brings together condo data in one place

Launching first in New York City with plans to expand nationally then internationally, Condopedia seeks to add transparency to the market to help consumers make more informed decisions. With over 200 building profiles in the city already featured at launch, the site mixes Wikipedia with Yelp and offers organically updated information on properties.

Founded by real estate agent Laurence Putnam, the service compiles public information on properties like floorplans and developer experience and user-updated information and photos to offer information the founder says his clients wouldn’t normally be able to readily locate.

“Consumers are able to seek out reviews before making just about every major purchase — except when it comes to real estate, one of the most significant transactions in one’s lifetime,” Putnam said in a statement. “Condopedia.com’s user-sourced rating system helps potential buyers make a more educated decision when comparing properties.”

In addition to highlighting notable building details and images, Condopedia.com also features a review section where users are able to rate a property’s construction, location and maintenance, among other qualities.

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The challenges of a national wiki

Condopedia makes perfect sense in the wild west of New York City which doesn’t operate under a MLS like the rest of the nation, and condo living is common for renters and buyers, but for much of the rest of America, the company will be fighting an uphill battle. That’s not to say they won’t win, but it will be challenging.

User reviews have been attempted by small startups and the big boys alike, and ultimately were cut by almost all as it presents unique challenges. Especially given that the site is owned and operated by a real estate professional, there will be some licensing issues in other states for Condopedia, but transparency is important, so we hope they’ll fight that uphill battle and find the secret combination of ingredients that no one else has yet discovered. Consumers deserve to be empowered, and if Condopedia is one of the tools that does that, then that is a win.

Tara Steele is the News Director at The American Genius, covering entrepreneur, real estate, technology news and everything in between. If you'd like to reach Tara with a question, comment, press release or hot news tip, simply click the link below.

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