Launch HN: Modern Realty (YC S24) – AI Real Estate Agent for Home Buyers

Post by threeseed » Tue, Sep 24, 2024, 8:54 PM UTC

greenfish6 wrote: post #72

thinkmorebetter wrote: post #62

I think it’s a bit misguided in the pitch by too boldly trying to replace all buyer agents. A lot of what realtors offer, especially to first time buyers (~1/3), is emotional support and confidence/security for making the biggest financial decision in their lives. I don't believe an AI isn’t going to be able to do that. But if you’re a second+ time buyer, then I think it makes more sense.

I actually do believe that AI can make someone feel more comfortable with their purchase. Let's break down the communications that realtors currently do to comfort buyers (mostly over text, which is also how we communicate): Tell you comparably priced properties - we do this. Remind you the steps in the process - we do this. Tell you basic stats about local transactions (such as telling dejected buyers that only 1/6…

Post by greenfish6 » Tue, Sep 24, 2024, 8:56 PM UTC

simplyluke wrote: post #127

I don't see anyone asking the question that to me is the elephant in the room: How are you preventing hallucinations and plainly false information being sent to buyers engaging in what's likely to be one of the largest financial decisions of their life? Beyond just leading to a bad UX, what's your legal exposure there? You mention providing comps, there's a LOT of local knowledge that goes into that. How are you auto…

Post by mangowise » Tue, Sep 24, 2024, 8:57 PM UTC

throwup238 wrote: post #61

greenfish6 wrote: post #14

Earlier quoted context omitted.

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…

> 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?

Post by threeseed » Tue, Sep 24, 2024, 9:01 PM UTC

a_d wrote: post #142

It is important for some company to make home buying better. Even outside of the pain of unaffordability, it is an utterly broken process. Advent of LLMs do give hope that this process can be imporoved signifiantly. 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 f…

Post by threeseed » Tue, Sep 24, 2024, 9:04 PM UTC

greenfish6 wrote: post #173

simplyluke wrote: post #127

I don't see anyone asking the question that to me is the elephant in the room: How are you preventing hallucinations and plainly false information being sent to buyers engaging in what's likely to be one of the largest financial decisions of their life? Beyond just leading to a bad UX, what's your legal exposure there? You mention providing comps, there's a LOT of local knowledge that goes into that. How are you auto…

Our goal is not to rewrite every property description, but rather just link you the properties that we think you would like. If a property is mis-listed on Zillow, then that would be the same issue if a Realtor would send you that property as a recommendation