AI has reached the Realtor Space!

[Sherylyn Holden]

Have y'all seen this? https://www.tryhoma.com

This model intrigues me quite a bit. It works adjacent to the current realtor structure, without trying to reinvent the entire model. It appears they are only in Florida but plan to expand to Texas and other states soon.

Here is how I understand it works:

1. - You search for homes inside the platform which has full MLS access
2. - It utilizes AI to analyze a home and spot red flags, provide comps, and market analysis
3. - They partner with local realtors who are paid a flat fee to unlock and show you the home
4. - Ai will provide price recommendations and draft an offer (always reviewed by a real human broker)
5. - A human specialist helps keep things like inspection, lender requests, and title tasks on track
6. - The seller pays Homa the full (typically 2.5-3%) buyer’s agent commission. Homa keeps their fee of $1,995 and credits back the difference to you (the buyer)

I see how they are blending human support with Ai for efficiency. It seems like a possible solution in the short term but I wonder if any legislation would impede this model down the line. If adoption of this grows, would more sellers lower the buyer’s agent commission? Is that a net “win” for buyers?

What are y’alls thoughts? Gimmick or the way of the future?

[Patricia Steiner]

This is going to seem bizarre coming from a Broker - but I am also a long-time investor:  the whole real estate services industry needs to be blown up...it's too costly, there is so much redundancy, too many fees that are far from value added (loan application fee, loan processing fee, appraisal review fee) and too many so-called providers with their hands in my pockets. Some of the new AI stuff will crash and burn...it's not perfect by any means - but what we have now is nuts. As a Broker, I'm ticked off by all the drama and heavy handedness that NAR brought on itself and us. Again, we can do real estate better. Let's go for the ride and maybe this will turn out to be more like an Apple phone innovation than the dinosaur we have now. (This is my opinion only; please do not kill me, please do not debate me).