UPDATE: Homebuyers are making headlines by saving an astonishing $10,500 on average by bypassing traditional real estate agents and utilizing artificial intelligence for their purchases. This innovative approach is gaining traction in Florida, with buyers now able to navigate the home-buying process entirely on their own.
New reports reveal that prospective buyers in Tampa Bay and Vero Beach are leveraging AI technology to search listings, generate offers, and draft contracts, completely transforming how homes are bought and sold. At least 10 homes have been purchased using AI, and many others are currently in escrow, according to a report from The New York Post and data from the tech startup Homa.
In a bold move, buyers are avoiding the typical 2.5% to 3% commission fees charged by real estate agents. For example, DJ, a 32-year-old homeowner in Tampa Bay, purchased a $420,000 home and reported saving $10,500 by opting for the AI platform. “Once I heard about this, I was like, let me just go down this route,” DJ stated, highlighting the step-by-step guidance provided by the AI system.
Another satisfied buyer, Vicki Lynn, shared her experience after purchasing a home in Vero Beach, saving $8,000 in the process. “I just dove right in,” she said. “The contract system was similar to TurboTax — filling in the blanks. Very straightforward.”
The platform was founded by Arman Javaherian, a former senior product director at Zillow. He noted that he witnessed significant inefficiencies in the traditional real estate process during his tenure, prompting him to create a solution that empowers buyers. “Homebuyers are going on search sites, finding the homes themselves, doing all this legwork — and then these agents come in and make $10,000, $20,000, $30,000,” Javaherian explained.
This shift in the market has been accelerated by a recent settlement from the National Association of Realtors requiring buyers to sign contracts with agents before viewing homes. “For the first time, buyers are seeing in black and white how much buyers’ agents get paid,” Javaherian added. Many are now searching for alternatives that allow them to save thousands.
Homa offers a free tier for those looking to navigate the process independently, as well as a paid option for $1,995 that includes a licensed broker to help protect buyers from potential conflicts with listing agents.
As this trend continues to gain momentum, it reshapes the landscape of real estate transactions. Buyers are encouraged to explore these AI options and consider how they might benefit from the significant savings available.
Stay tuned for more updates on this developing story as the impact of AI on home buying unfolds.