161–170 of 310 posts
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Human buyer agents wouldn't do these things that you're asking
My buyer's agent did those things for me yesterday, and would do them again today if I asked. That's what a buyer's agent is for.
Lessons learned that might help you guys out: - Consumers want everything Zillow has. Until you actually build Zillow AND THEN start to innovate on top of that, people won't come. - Zillow is developing the "everything app" for home buyers. Read their quarterly reports you'll get insight to what they are doing - Consumers in this market won't pay for a service give Zillow and others are free. Market is tough - Brokers are paying other fees and don't want to buy additional software. - Realtors are not doing well in this market so this must be a huge value add or they won't come. They also require a mobile version because they are on the road a lot. - Validate that your company is not just a "feature" but truly something different. A lot of times, Zillow can just build out the feature itself. It already has a first pass at using LLMs for search
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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
That being said, I think as long as you are honest that "better pricing" isn't your goal then fair enough. It isn't the service for me, but I'm sure some folks will certainly be excited about it.
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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.
This is the thing, the NAR settlement didn’t really change anything, the fee was always negotiable and there always were agents who would offer under 6%. They were typically scummy agents who didn’t last long (they popped up when real estate was hot then disappeared after they burned enough clients and/or the market cooled off). As in all things you will get what you pay for. I’m not interested in fighting with anyon…
There's a reason why Guinan is still the bartender on Enterprise D, even though a perfect drink can be instantly made with a replicator. People like people. And people want to be sold on things by other people. You won't ever replace that. AI can help massively with paperwork involved. But at the end of the day there will always be a human holding people's hands through the home buying process because that's what the…
Your bartender also may pour you a drink from a can as well - I've seen this
I'll try anything to get rid of realtors. They're the worst form of rent seekers, and it requires no real skill or training other than a certificate that I could purchase with a highschool diploma, taking one class, and passing a multiple choice exam.
The biggest contribution my realtor made was good negotiation, but even that cannot be confirmed. Why? Because I never spoke to the sellers directly. For all I know, I was their only offer and they were just holding off to see if anything else would come through. When I sell my current home, the realtor commission would be around $20,000. That's $20,000 cash equity that is taken out of my hands. When I did this simpl…
Just curious, how are you going to advertise your property to real estate agents and consumers in your area?
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I don't have any, and indeed I've not criticized or questioned anything about real estate. I've questioned how you'd support some of the claims you made that were overly-broad and seemed disconnected from the technology you're describing. I've questioned your lack of transparency on pricing, and your justification for it. I've asked a few questions about the general risk/liability of being a real estate agent and how…
About 4 months ago when I launched Modern Realty, it was at discount. However, what comes with a product branded at a discount product is people aggressively questioning our quality and services all the time. Also, we would get lots of potential clients who would try and push our prices even lower. We don't have any of these problems at full price, and people have a significantly higher presumption of our services ou…
Are you sure your insurance will cover work that's not done by, not validated by, and never even seen by one of your licensed agents?
-Not from a wealthy background, he got where he is due to hard work.
-Paid his share of the rent by trading stocks.
-He bought a used SUV off of Craigslist and negotiated the price down by almost 90%, afterwards the seller smiled and said something akin to "the balls on this guy!"
-Double majored in electrical engineering and economics in college.
-Worked at the US Patent Office reviewing video card patents, well before cryptocurrency, bitcoin mining, or AI.
-He built his own desk using woodworking skills.
-Studied contract law and has closed some multi-million dollar deals for other startups. He quit this high-paying, stable job to start Modern Realty.
-Has his own number of AirBnb properties.
Raffi has the very unusual combination of street smarts, book smarts and salesmanship.
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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.
> When the National Association of Realtors signed a landmark $418 million settlement in March, economists and academics predicted that the deal — which included an agreement to upend key practices concerning how real estate agents are paid — would create the most significant shift to the industry in a century. [1] https://www.nytimes.com/2024/08/16/realestate/realtor-commis...