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

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

#301

Post by linsomniac »

the_gorilla wrote: post #204
linsomniac wrote: post #167

Earlier quoted context omitted.

>I'm keepin' that $20K. Just curious, how are you going to advertise your property to real estate agents and consumers in your area?

This seems like a rhetorical question, because it's as simple as a buyer going to something like Zillow and clicking through houses. Realtors are on their way out.

How does the house get on Zillow? Typically, they get that from the MLS. The way you get a property into the MLS is via Realtor. Without a Realtor, you don't get into the MLS.

I can't even get my house into the MLS without using a Realtor, and I'm currently logged into the MLS database server running updates. ;-)

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

#302

Post by mcmcmc »

nostrebored wrote: post #241
mcmcmc wrote: post #239

Earlier quoted context omitted.

I think you missed the part about "towns across the country". For almost 20k towns and cities in the US there are 245 Tesla storefronts.

The idea that you have to go to a dealership is what’s being challenged. If you have faith in the brand, is it that much more absurd to buy via transfer?

I’m not sure what you’re getting at. A dealership isn’t just a place of purchase. They facilitate test drives, let people shop around for different makes and models, do trade ins. A lot of people want to see what they’re paying for before dropping 5 figures on a single purchase.

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

#303

Post by rco8786 »

lotsofpulp wrote: post #244
rco8786 wrote: post #107

Earlier quoted context omitted.

To be fair, NAR goes to great lengths to maintain their monopoly and lock out anyone who tries to buy or sell a house without using them....specifically because they know they're priced insanely high for the services they provide and are in real danger of being undercut.

Ever since Zillow/Redfin came out, there hasn’t been a need to use a real estate agent. All buyers are getting push notifications 24/7. If you want to save on commission, then get the pics taken yourself, and pay a listing service a few hundred dollars for your property to show up on Zillow/Redfin.

To be fair to realtors. There is A TON more work and expertise that goes into any transaction than just taking pictures and listing the property.

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

#304

Post by rco8786 »

ethbr1 wrote: post #242
rco8786 wrote: post #107

Earlier quoted context omitted.

To be fair, NAR goes to great lengths to maintain their monopoly and lock out anyone who tries to buy or sell a house without using them....specifically because they know they're priced insanely high for the services they provide and are in real danger of being undercut.

> NAR goes to great lengths to maintain their monopoly Went to great lengths, considering they've lost a few major court cases and are now prohibited from their prior shenanigans. https://en.m.wikipedia.org/wiki/National_Association_of_Real...

It’s not stopping them. It’s just causing them to change tactics. NAR still has a stranglehold even after the lawsuits.

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

#305

Post by saym »

thesimpleman wrote: post #163

I tried building software in the real-estate space and its very difficult to break in and change consumer behavior. You can see what I was working on here ( https://findur.io ). The app is active but the business is shut down. I just leave it up to have as a portfolio project at this point. I've learned many hard lessons from doing this journey. Lessons learned that might help you guys out: - Consumers want everythin…

I appreciate this community when I see replies like this. Friendly, humble advice is hard to come by in this world.

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

#306

Post by bityard »

complianceowl wrote: post #56
bityard wrote: post #41

Earlier quoted context omitted.

What's your plan for selling? Are you going to have a lawyer handle the legal aspects instead?

Definitely. I am going to hire an attorney ($650), property inspector ($500), and title company ($1,200), and that is about it. I've purchased two homes and I'm confident I can handle the paper work involved. I mean, most of the paper work is the attorney's and title company's anyway. The realtor is basically inserting himself in between those companies and then relaying that information to the client. In my case, my…

Interesting. I wish there were more resources for this stuff. Even though I have a good agent and will continue to use her, I'm always interested in how to DIY things, even big things like real estate.

I'm curious why you're paying for an inspector, though? Wouldn't the buyer want to hire their own inspector? Are you just looking for issues that the buyer might complain about? (My experience is that an inspector will _always_ find things that the buyer can use to negotiate the price down.)

I was under the impression that the title company was also chosen by the buyer (or their agent). Although they generally expect the seller to pay for, well, almost everything.

If the buyer is using an agent, I assume you're not paying the buying agent's 3%, right? I wonder if that would dissuade some buyers.

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

#307

Post by homefree »

mcmcmc wrote: post #302
nostrebored wrote: post #241

Earlier quoted context omitted.

The idea that you have to go to a dealership is what’s being challenged. If you have faith in the brand, is it that much more absurd to buy via transfer?

I’m not sure what you’re getting at. A dealership isn’t just a place of purchase. They facilitate test drives, let people shop around for different makes and models, do trade ins. A lot of people want to see what they’re paying for before dropping 5 figures on a single purchase.

You don't need a dealership for that, you can do it with corporate store fronts and the experience would be better for the buyer (and the seller) because the incentives are actually properly aligned.

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

#308

Post by tempodox »

greenfish6 wrote: post #106
alemanek wrote: post #99

I am actually your target market. We are looking to buy a house early next year. But, one thing that put me off is that you don’t list what fees you charge, is it flat rate or a percentage, ..etc. In the FAQ I see this but no mention of the standard terms of the buyers agreement: > Do I need to sign a buyer agreement? > We will let you know if you need to sign a buyer agreement. You will for sure need to sign a buyer…

Other relators do not put their fee pricing on their websites so we decided to follow suit. We have the same pricing model - negotiable. But we provide better service.

“We can't tell you what our product costs beforehand because we try to extract as much as we can from you.”

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

#309

Post by lxe »

rgbrgb wrote: post #296
lxe wrote: post #194

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…

I bought my first home with Open Listings in 2018!

On your second point:

> When they said OL, the agent would often try to dunk on us and steal the client.

Every agent shied away from disclosing they are working with OL and presented as their own brokerage instead.

Furthermore, multiple seller listing agents were very hostile to both Open Listings and Redfin and weren't shy to tell me about it during open houses.

These interactions left a very sour taste in my mouth about the whole residential realtor industry (and real estate agents) in general.

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

#310

Post by rgbrgb »

greenfish6 wrote: post #297
rgbrgb wrote: post #296

Earlier quoted context omitted.

> 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…

Thanks for the insight, noted.

totally. love what y'all are trying
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