Looking for opinions on my startup company.

[Nolan Whitaker]

As the title says I am looking for opinions on my startup company SellWell. Me and my partner were wholesalers and noticed that there are a ton of FSBO homeowners that dont want to use agents but the issue is Zillow pushes these listings to the bottom. Me, my partner, and our CTO are building a platform that utilizes AI for all people to sell and buy homes. The AI will handle contract management, offer analysis, sending out offers, contacting title, setting up home walkthroughs, etc. We essentially want to replace the realtor for these FSBO sellers and just charge 1% of the sales price. We have contacted a lot of FSBO homeowners and got their opinion on our future service and it has been well received. We will be a licensed brokerage. We will also allow a seller or buyer that already has an agent to connect with users that are using our site as their "agent". At the beginning we plan to have in house agents review any important decisions our AI makes until the variables are tweaked enough that it can be left on its own.

Again, just seeking thoughts and ways it could be improved before we hit market.

Thanks,

Nolan.

[Joe Norman]

Not sure what state you intend to get licensed in to start, but before you get too far along I would check with the Real Estate Commission to confirm that your end-game (AI decisions only, no human broker in the loop) will pass their muster. I doubt that any REC would license a brokerage that didn't intend to have a licensed broker reviewing decisions and documents.

Sounds like a cool idea though, good luck!