A method of operating a price estimation system includes obtaining service requests from consumers, and obtaining bids from service professionals based on the service requests obtained from the consumers. The method additionally includes generating a training set based on the bids and the service requests, and generating a model for generating price estimates based on the training set. The method also includes employing the model to generate the price estimates based on additional service requests provided by additional consumers. In some aspects, the method further includes communicating the price estimates to the additional consumers during performance of a process for obtaining the additional service requests from the additional consumers. In other aspects, the method further includes communicating the price estimates to additional service professionals during performance of a process for obtaining additional bids from the additional service professionals based on the additional service requests.