141–150 of 310 posts
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We are not participating in the race to the bottom. There are a lot of 0% fee realtors out there! Try https://www.turbohome.com/ , I've seen them on social media
Frankly your responses on this page have convinced me to stay clear of this product. Sorry, I guess.
Fun fact: I met Raymond and Raffi a long time ago and discouraged from going into this area. But now, I am glad they did. Their conviction is inspiring.
If Turbo tax can make it possible for a person to file taxes, I am pretty sure a home can be bought online.
Best of luck to modern realty! .. and we should hang again sometime :)
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A) this is a buyer’s agent, not a seller’s agent. B) I don’t think you tell the agent your race, and traditional bias protections (namely doing the whole process without meeting in person) would still be in place AFAIU.
A) Correct. B) Yes, I think the AI agent actually can more easily ignore your race / age / gender because it is not programmed to go look up those things and people don't text their agent what they are - hard for the LLM to know these things and start to bias
I challenge you to support that idea in any way.
> because it is not programmed to go look up those things
The concern is what it's trained on. How have you curated your data to avoid introducing biases based on race/gender/etc?
> people don't text their agent what they are - hard for the LLM to know these things and start to bias
The exact opposite. The way people communicate, especially via text, is heavily dependent on their background and is full of social signals. LLMs are trained on data sets that are often annotated with that kind of information.
How would you affirmatively prove that your LLM model wasn't making inferences about those categories that influence it's output?
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Raffi doesn't scale. Are you going to hire more Raffis?
There is only one Raffi. -Raffi Edit: AI is currently being coded up to mimic my behavior/tone/advice/etc.
You, as a licensed attorney, are training an LLM to give your clients legal advice?
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Also, a huge percentage of deal volume comes from referrals. Successful realtors don't become so without thinking long-term.
Realtors still spend the majority of their time working on marketing themselves as opposed to servicing clients. "Referrals" is disingenuous because realtors spend so much time reminding clients of themselves - would this referral have occurred without that?
What's the pricing? Do you take the entire 3% commission? If so, ouch, and do you anticipate this will be affected by the recent anti trust cases? Is your use of AI just chatgpt API calls? How quickly could you scale given there's still humans in the loop? What are the blockers to getting humans out of the loop? Have you used your MVP to close any real sales?
Our pricing is negotiable. What we're seeing so far is that >95% of homes are still offering full 2.4% buyer agent concessions in the bay area. Our main service is our texting service which you would text as if it was a normal realtor and it can get you market comparisons, schedule tours by texting agents, asking about if there's offers on homes, etc. Blockers for getting humans out of the loop is primarily just user…
Do you think that people want humans out of the loop when it comes to buying and selling real estate?
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> MVP has completed 1 escrow via text bot, we got paid 27k, another home went into escrow yesterday, 35 clients touring homes with us. We registered with our real estate brokerage in July. That's amazing traction! Congratulations! How much manual intervention did these first couple of sales take? Are you using your own local/hosted model and fine tuning or otherwise incrementally improving it?
Disclosures analysis and text-to-tour scheduling were first to be automated, and those were available for our first close. We now have market analysis, offer drafting, full AI texting, etc.
I thought the Y-Combinator backed company whose entire pitch was that they could use AI to forge survey results had to be rock bottom.
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The ludicrous 6% fee is whats going to drive adoption by end users and in turn by brokers. Move that fee to 1% for buyer agent and you have a massive market.
If there was a serious opportunity to arbitrage under the 6% fee, you bet that someone would have done it already — and well before the AI era.
As in all things you will get what you pay for. I’m not interested in fighting with anyone about what a realtor is worth but I will say:
* All agents are not created equal
* A good agent is absolutely worth it
* 6% is only high if you don’t value your time and/or if you are ok getting a worse deal because you don’t know what you are doing
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Struggling realtors list their fees as a feature. Look through any of the top realtors in the bay area from last year: https://www.theleading100.com/honorees/theleading1002024/ , you'll notice none of them list their fees. Here's the websites of the top 2 realtors in the bay area from last year, to save you some clicks: https://www.kerinicholas.com/ , https://go2marin.com/
Aren’t you trying to be better than them though? People need to know that they are saving money with your new and unproven service that could go awry in so many ways.
The default question when we charged a discount price was - "but what am I missing out on if I choose you?" - and even when we said "Nothing!" clients bought into the discount pricing signal already and could not be swayed. This question is never asked at full price