XAI Land’s mission is to serve as the single source of truth for unbiased, transparent, and trustworthy real estate valuation data.
We aspire to become a platform anyone can buy/sell real estate alongside accurate property valuations for any land-use, powered by the most comprehensive sets of public/private data and proprietary Automated Valuation Models (AVMs).
XAI Land aims to create products that help anyone dealing with a real estate project make better, smarter, and faster decisions.
The idea for this company was born from its’ CEO’s experience in selling Korean real estate as a big-data/GIS consultant and agent/broker. He has prepared consultant-level documentation to sell properties and has participated in discussions on both sides of the table in regards to both the buyers and sellers sides.
He quickly realized there had to be a more cost and time efficient way to facilitate the sale of Korean real estate, particularly commercial real estate, when it came to valuing properties given the vast troves of data that are accessible.
In his experience he encountered two main problems that led him to founding XAI Land:
1. Appraisals for real estate are expensive/time intensive and neither the buyer or seller wants to pay for them during the negotiation stages of a sale;
2. Investing time to create an authoritative appraisal report to entice buyers is not a wise investment as it may not prove fruitful given that brokers are typically awarded success fees if a project is transacted.
In addition to Ray, the team includes web/software developers, data scientists, and real estate professionals.