New AI platform aims to assist homebuyers without traditional agents

A newly launched proptech company, Homa, is testing an AI-powered platform in Florida designed to guide homebuyers through transactions without traditional agent representation. The startup, founded by former Zillow executive Arman Javaherian, positions itself as a cost-effective alternative to buyer's agents, offering tools like comparative market analysis, offer price suggestions, and closing assistance.

Illustration by Lanette Behiry/Adobe Stock

Key Features of Homa

• No agent pressure: Buyers can make offers independently.
• No commissions: Eliminates traditional agent fees.
• AI-driven tools: Provides market analysis and smart pricing suggestions.
• Transaction guidance: Helps with scheduling tours and closing processes.

Why Florida?

Javaherian explains that Florida was chosen due to its regulatory-friendly environment and high concentration of experienced buyers who might be open to tech-driven solutions. The company plans a gradual expansion to other states, adapting to varying regulations.

Post-Settlement Timing

Homa's launch coincides with increased consumer awareness of agent commissions following recent antitrust lawsuits. Javaherian believes buyers are now more receptive to alternatives, especially those who feel they already do much of the legwork in home searches.

Listing Agent Support

While Homa targets buyer-side transactions, it emphasizes support for listing agents:

• Prominently displays listing agents on properties.
• Claims faster transactions with unrepresented buyers using Homa.

Criticism of Traditional Portals

Despite Zillow roots, Homa criticizes existing home search platforms for prioritizing agent connections over buyer savings. The company plans to transition from free services to a flat-fee model in the future.

For more details, visit Homa's website.