Homebuyers in Florida are finding significant savings by bypassing traditional real estate agents and utilizing artificial intelligence (AI) to facilitate their home purchases. This innovative approach has allowed buyers to save on commissions, with some reporting savings of up to $10,500 by completing the home-buying process independently.
According to a report by The New York Post, at least ten homes have recently been purchased using AI technology, with several additional properties currently in escrow. The AI platform, developed by the tech startup Homa, enables buyers to manage the entire process, from searching for listings to generating offers and drafting contracts. By avoiding the typical 2.5% to 3% commission fees charged by real estate agents, buyers can keep more money in their pockets.
In one case, a buyer identified only as DJ, aged 32, successfully purchased a home valued at $420,000 in Tampa Bay using the Homa platform. DJ stated, “Once I heard about this, I was like, let me just go down this route. 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 successful user of the platform, Vicki Lynn, reported saving $8,000 on her home purchase in Vero Beach. “I just dove right in,” she said. “The contract system was similar to TurboTax — filling in the blanks. Very straightforward.”
The platform’s founder, Arman Javaherian, who previously served as a senior product director at Zillow, recognized various inefficiencies within the conventional home-buying process. He noted that many buyers do extensive research online, only to engage agents who often earn commissions ranging from $10,000 to $30,000 for services that buyers could perform themselves.
Javaherian was inspired to create Homa following a settlement in March 2023 by the National Association of Realtors, which mandated that buyers sign contracts with agents before viewing homes. “For the first time, buyers are seeing in black and white how much buyers’ agents get paid,” he explained. “A lot of them are taking a step back and looking for alternatives.”
Homa offers a free option for users, as well as a paid tier priced at $1,995, which includes the assignment of a licensed broker to the deal. This paid option aims to protect buyers from potential conflicts of interest, particularly scenarios where listing agents might try to collect commissions from both the seller and buyer.
The rise of AI in the home-buying process reflects a broader trend toward technological solutions that enhance efficiency and reduce costs. As buyers continue to seek ways to navigate the real estate market without incurring high fees, platforms like Homa may reshape the landscape of home purchasing, making it more accessible and affordable for many.
