My Currency lets wisdom of the crowds estimate real estate prices.

VentureBeat:

[My Currency] lets people participate, and encourages them to estimate the value of homes for sale. If a home is selling for $500,000, and you think it is worth less, you get points if it is sold for less. The idea is that estate agents will want to participate. If they develop a track record of accuracy, their credibility grows, they get more customers. By aggregating votes from all users, the “wisdom of the crowds” can also be assessed — which may or may not help in home-buying decisions.

My Currency has a futures index, too, which lets agents and others predict the future average square-foot price of homes in a region.

[...] The company is focusing initially on housing but plans to roll out services in other areas. It’s model is advertising.

Karim Tahawi, Founder and CEO of My-Currency.com, is a former derivatives trader and former Vice-Chairman of the Pacific Exchange.

The challenge for My Currency will be to command enough authority to make people want to participate. This is a long shot; there’s so much noise out there — Zillow, Trulia and many others.

My Currency is powered by Consensus Point‘s Foresight Server.

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Psstt… And the Sim Exchange I talked you about on Friday is powered by Brian Shiau’s software. He told me he will indeed show up on Midas Oracle .ORG, soon.

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Addendum: CNET; Profy.