291–300 of 310 posts
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Frankly your responses on this page have convinced me to stay clear of this product. Sorry, I guess.
Thanks for feedback. Our priority is on good service
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"Our own MLS" already exists in multiple forms; getting everyone to agree to use the same one is the problem, and AI isn't going to solve that.
As a non american, why arent the other sites getting used? And why does MLS cause this fee structure anyway? Why dont sellers give a 3% discount or cashback to agentless buyers too? It would be in their interest. The cashback would effectively reduce the downpayment.
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I just sold a house. In August I signed some paperwork saying we would offer 2.5/2.5 to buyer and seller, just verbally. The seller agent heavily pushed this, saying that we don’t want to work with an attorney and put everything at risk; he wants to work in his network. All the buyer offers we received were also expecting 2.5%. The more things change, the more they stay the same.
Yeah buyer's agent comp will be the norm for the interim on listings. However, people are already listing without buyer's comp or like in my instance lower than usual comp, and as time goes on I would expect to see more buyers going the attorney route and factoring that they are saving sellers a few percent into the offer. At the end of the day, it's not your agent's job to decide which agents he will work with, it i…
I'm sure you are already working on this, but it would be nice to be able to filter my search by various criteria (e.g. Beds/Baths/Price/Square Footage). Since you guys are an AI company, this could even be freeform (e.g. what are you looking for?)
And also potentially to be able to save multiple searches.
I am not sold on what the service is. There are sellers out there that already do instant tour unlocks. There are also companies like Redfin that tried to attack this problem but I think are still struggling to fully crack it. You only mention that rates are negotiable, there is no way I am using this kind of service unless you offer drastically lower rates. That was the attractive part of redfin, they automate and s…
This piques my interest, as I have worked in this space for some years, AND I've had terrible experiences purchasing homes in Bay Area and elsewhere. Product questions: - How is your solution better/different/cheaper for buyers who would otherwise choose a discount buyer realtor services from Zillow or Redfin? - Who will be doing the tours? - Are you offering a tour-only non-exclusive representation agreements? Busin…
OL founder here. A few points to consider:
- We represented buyers on plenty of transactions in the Bay Area and had very competitive acceptance rates. Of course there is an art to being included in the counter process but unsurprisingly, sellers mostly optimize for expected value (money * certainty) and the highest legit offer wins. Vague notions of not wanting to transact with a "disruptor" go away pretty quickly when you realize it's a bona-fide offer + compelling buyer letter + pro agent who has done way more successful transactions than most. If you have a standardized process for preparing and presenting offers in a market and optimize it over thousands of reps, you can actually submit pretty compelling offers.
- An actual point of friction/discrimination to consider (that applies to all markets) is when the user is at an open house and the listing agent asks who their agent is. When they said OL, the agent would often try to dunk on us and steal the client. Important to prep the buyer with what to say in this moment so that this doesn't happen (e.g. tell them to just give the name of the agent who would be delivering their offers + give them compelling stats about that agent's performance). Rare that they'd bad-mouth a named person to their client.
- Throughout the time we operated, the Bay Area was a relatively small and unique market. We had a healthy business there from the early-adopter techie crowd, but ultimately focused more in Los Angeles because the market diversity yielded more useful product insights. Do not design for the Bay if you're trying to build a national (or even CA-wide) real estate product!
This piques my interest, as I have worked in this space for some years, AND I've had terrible experiences purchasing homes in Bay Area and elsewhere. Product questions: - How is your solution better/different/cheaper for buyers who would otherwise choose a discount buyer realtor services from Zillow or Redfin? - Who will be doing the tours? - Are you offering a tour-only non-exclusive representation agreements? Busin…
> Seller agents in the Bay Area will definitely "blacklist" buyers who use this, as they've done for Redfin and Open Listings. How are you solving this? OL founder here. A few points to consider: - We represented buyers on plenty of transactions in the Bay Area and had very competitive acceptance rates. Of course there is an art to being included in the counter process but unsurprisingly, sellers mostly optimize for…
Real estate agent and (mostly) former software developer here... every time real estate comes up on HN I lose about 50 status points, but here goes nothing... Just thinking about a few transactions that come to mind... 1) We've got a feud over two trees and had to call in an arborist and a structural engineer. 2) I've got an orchard with a ROFR and a big city lawyer on the other side of the deal, on a property with a…
> At 3% my services are cheap Do you give % back if none of the above came up? Or is the 3% insurance, where people without issues are covering the costs of other people's issues where 3% would be too little?
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Shall I tell you about the qualified and professional human appraisers that I’ve hired in the past? I usually get results in the range of 0.5x-5.0x what is realistic market. I had a job that I would hire usually at least 3 appraisers for every transaction and could pick which appraisal to share with insurance, lenders, etc based on whether a high/low value would benefit me. Humans are flawed too.
What you describe there has nothing to do with humans being flawed. There simply isn't any "right answer" for how much a house is worth. I've used countless web-based valuation services and they all had quite large price ranges as well.
So you agree that AI does bring something to the table if it can narrow the range to ~5-10% ?
Human appraisals are a joke and should be a narrower range than what I've seen. It's never exact, even a house for sale is just an Ask Price for what they hope someone will pay. It does no good to a buyer if their agent advise buyers on prices and values and what to offer if this range is too wide or margin of error too large. It basically comes down to offer X% below ask if you like it, offer ask if you love it, offer X% over ask if you will cry over losing it. No AI needed or agent needed at all, this is just a personal finance decision making process and more about your emotions & budget than anything else.
Best of luck. I’m a commercial real estate professional who has spent time as a broker, lender, and private equity investor. Residential definitely is a lot More of a ridiculous market. But ultimately as an agent, you get hired to work with mostly irrational actors (sellers and buyers). As someone who is very interested in AI and taught myself how to code (I don’t know any other real estate people who know anything a…
I worked in real estate for about 8 years as a software developer for a tech-forward brokerage. There's a ton of money and data flowing through this industry. There are plenty of dilettante agents who are far overpaid. There've been a number of startups trying to tackle this (ZipRealty, Zillow, Compass OpenDoor). My cynical take is that these startups begin with consumers, but end up serving agents and brokers, becau…
i.e. is there any product in any industry with middlemen, available today, that reliably performs like the 50th percentile professional ?