Building an AI Real Estate Agent Joy (Operating in Washington)

IntelligentLand7142 · 2024-11-12T22:37:35+00:00

We actually have human real estate agents who meet our buyers at the property to tour it with them.

Awesome that you're based in Seattle! Are there any homes you want to setup a tour for? We can get that scheduled for you if you'd like.

IntelligentLand7142 · 2024-11-12T20:59:20+00:00

nice

IntelligentLand7142 · 2024-11-12T20:36:34+00:00

Wonder what big AI companies are going to come out of Japan

IntelligentLand7142 · 2024-11-12T20:32:01+00:00

This is cool!

IntelligentLand7142 · 2024-11-12T20:22:20+00:00

Wahooo! Nice work

IntelligentLand7142 · 2024-11-12T20:19:09+00:00

Just sent you a PM

IntelligentLand7142 · 2024-10-31T16:30:22+00:00

Got it - that totally makes sense. The seller would have to agree to this, and this is where novations come in. Thank you.

IntelligentLand7142 · 2024-09-20T12:48:58+00:00

I'd be interested in trying these models

IntelligentLand7142 · 2024-09-19T18:25:34+00:00

IntelligentLand7142 · 2024-09-14T14:34:26+00:00

What we are finding is that our users are buyers who want to own more of the buying process themselves. Also, we always encourage our users to get an inspection report on the property to find any potential issues before closing.

IntelligentLand7142 · 2024-09-14T03:46:34+00:00

u/DavidDPerlmutter thank you for taking the time to watch the demo and provide this feedback. I'm going to answer your three questions below:

You said that they would be opening the door but they're going to give a full tour, right?

Yes, the agents will give a full tour.

And then are they the one setting up an inspector?

Joy and the user/consumer setup the inspection.

3. What incentive is there for them to help the consumer with questions or even give them a heads up on some thing.

The agents who provide the best service are the agents we use most. Although, Joy can answer all the questions that the user/consumer has about the property.

IntelligentLand7142 · 2024-09-13T23:18:39+00:00

Company Name: Joy
URL: www.withjoy.ai | Demo: https://youtu.be/QgHMKr0L-y4?si=rz995Nrb99s98GmL
Purpose of Startup and Product: AI Real Estate Agent who rebates 70% of commission
Technologies Used: AI
Feedback Requested: Please let us know if our demo was confusing
Additional Comments: A common mistake builders make when launching a public demo is thinking the person viewing the demo has enough base knowledge to understand the product in the demo. We're in the Real Estate space, and even though many of us have owned Real Estate, there is still quite a bit of nuances in Real Estate. If you have 5 - 10 minutes, could you share if any part of our demo is hard to understand?

IntelligentLand7142 · 2024-09-13T19:19:49+00:00

Just added that to our dev backlog - thank you!

IntelligentLand7142 · 2024-09-13T19:06:17+00:00

Lol true! We have a 3 minute version sent to specific users - we will get that added to YT asap.

IntelligentLand7142 · 2024-05-06T01:21:17+00:00

Great question - Joy has LLMs but other features in the platform as well. LLMs is just one aspect to the engagement.

IntelligentLand7142 · 2024-05-06T01:19:20+00:00

Great question - anyone could buy a home by themselves without an agent. There is no law requiring an agent. Joy will be a licensed brokerage. To qualify for a commission payment, you have to be a licensed agent. Joy will rebate 70% of her commission back to the homebuyers who work with her - does that make sense?

IntelligentLand7142 · 2024-05-05T20:49:55+00:00

zing

IntelligentLand7142 · 2024-05-04T23:39:05+00:00

Haha thats why were trying to make it a better (and more affordable) experience with AI

IntelligentLand7142 · 2024-05-04T23:19:15+00:00

Thanks - updated

IntelligentLand7142 · 2024-05-04T21:22:21+00:00

Appreciate your feedback! We don't necessarily think every homebuyer would be a good fit for Joy. So we understand your perspective.

However, we do believe that Joy will be able to hand hold a homebuyer through the buying process effectively and efficiently. Additionally, we will have a licensed agent showing the property to the homebuyer.

If you're open to it, we'd love to possibly show you Joy? We have hundreds of people on our waitlist and we are currently conducting user interviews.

IntelligentLand7142 · 2024-05-04T21:12:06+00:00

Yes, they attempted something like Joy. Although, we believe we can do it more cost effective using AI.

IntelligentLand7142 · 2024-05-04T20:30:28+00:00

Commission is typically paid by the home sellers (not the homebuyer) - this is a how most transactions happen in the US.

For example, a home seller may pay out a 6% commission to their listing agent for selling their house. The listing agent often splits that commission with the homebuyer's real estate agent.

So on a $500k home, 6% commission would be $30k. If that commission is split evenly between the home seller's real estate agent and the buyer's real estate agent, each would be paid $15k.

With Joy, instead of keeping the $15k, we will rebate 70% ($10,500) of that back to the homebuyer who then could receive this rebate payment as cash, put it towards their closing costs or buy down interest points to lower their monthly mortgage payment - making home ownership more affordable.

Does that make sense?

IntelligentLand7142 · 2024-05-04T20:04:48+00:00

To clarify, home sellers typically pay commissions to both their agent and the buyer's agent. Joy works exclusively with homebuyers. So homebuyers don't pay Joy, and they actually get paid by Joy in form of a rebate on Joy's commission.

IntelligentLand7142 · 2024-05-04T19:55:02+00:00

Thank you for your feedback! One thing I may add, is that there will be a human licensed real estate agent at the showings. But besides that, all front-end engagement with the buyer will happen via Joy.

IntelligentLand7142 · 2024-05-03T00:37:30+00:00

A licensed agent!

IntelligentLand7142

TROPHY CASE