Flyhomes has launched a groundbreaking AI-powered home search portal, marking a significant innovation in real estate technology. The company recently acquired assets from ZeroDown, a real estate AI startup, to develop this state-of-the-art platform. Over the past two years, Flyhomes AI has been designed to revolutionize real estate search by offering conversational capabilities that provide extensive information for homebuyers. This development was spearheaded by ZeroDown co-founders Laks Srini and Abhijeet Dwivedi, who have joined Flyhomes as Chief Technology Officer (CTO) and Chief Growth Officer (CGO), respectively.
According to Tushar Garg, co-founder and CEO of Flyhomes, the new rules mandated by the National Association of Realtors will require buyers to sign contracts compensating agents directly before home tours. This significant change, effective August 17th, is expected to alter the traditional buyer-agent relationship. Garg believes that this shift will cause buyers to delay engaging agents, creating friction in the market. He sees AI as the timely solution to this problem, enabling Flyhomes to lead with superior technology and insights.
Flyhomes’ new portal is currently operational in 28 states and Washington, D.C., covering 75% of the U.S. population. The AI-driven search and research engine is built on nearly 1,000 data points from various sources, offering a depth of information unmatched by competitors like Zillow, Realtor.com, Redfin, and Homes.com. Users can ask nuanced questions, such as the relative value of a home in a neighborhood or specific queries about mobile network coverage.
Laks Srini, CTO of Flyhomes, noted that consumers are increasingly comfortable with AI, as evidenced by the adoption of technologies like ChatGPT and autonomous vehicles. However, real estate has largely remained unaffected by AI until now. Srini emphasizes that the Flyhomes portal is designed to provide comprehensive information that existing home search platforms lack, enabling users to conduct thorough research independently.
Abhijeet Dwivedi, CGO of Flyhomes, addressed concerns about AI replacing jobs. He clarified that while the buyer-agent relationship will evolve post-August 17th, agents will still play a crucial role. Flyhomes AI aims to support both consumers and agents by offering access to extensive datasets from sources such as the US Census, FEMA, and local authorities. This dual application is intended to enhance the value agents provide and empower consumers with detailed information.
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By Proptechbuzz
By Ravi Kumar
