Homebuyers in Florida are discovering a cost-effective alternative to traditional real estate agents, saving an average of $10,500 by utilizing artificial intelligence (AI) platforms to manage the home-buying process themselves. Instead of paying the typical commission of 2.5% to 3% to agents, these buyers are successfully closing on homes with the assistance of technology.
According to the New York Post, at least ten homes have been purchased using an AI platform developed by the tech startup Homa. This innovative approach enables users to search for listings, generate offers, and draft contracts independently. The platform has gained traction, with several additional homes currently in escrow as buyers embrace this new methodology.
Real Savings for Homebuyers
In Tampa Bay, a homeowner identified as DJ, 32, recently purchased a home valued at $420,000 using Homa’s AI platform. He reported a substantial savings of $10,500 by forgoing a buyer’s agent. “Once I heard about this, I was like, let me just go down this route,” DJ remarked. “They pretty much walk you through the whole process step by step, and you can end up saving at least 2.5% on your final purchase price.”
Another buyer, Vicki Lynn, shared her experience after purchasing a home in Vero Beach. She saved approximately $8,000 by utilizing the AI tool. “I just dove right in,” Lynn explained. “The contract system was similar to TurboTax — filling in the blanks. Very straightforward.”
Addressing Industry Inefficiencies
The platform was founded by Arman Javaherian, a former senior product director at Zillow. Javaherian aimed to tackle the inefficiencies he observed in the traditional real estate process. “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,” he noted.
Motivated by a recent settlement from the National Association of Realtors, which requires buyers to sign contracts with agents before viewing homes, Javaherian saw an opportunity for change. He stated, “For the first time, buyers are seeing in black and white how much buyers’ agents get paid. A lot of them are taking a step back and looking for alternatives.”
Homa offers both a free option and a paid tier priced at $1,995, which includes a licensed broker to protect buyers from potential conflicts of interest with listing agents. This model reflects a growing trend among homebuyers seeking to streamline the purchasing process while significantly reducing costs.
As more buyers turn to AI solutions, the future of real estate could see a significant transformation, challenging the long-standing dominance of traditional agents in the market.
