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Looks great, hopefully one day I’ll be able to use your services! Has all the features I’d be looking for. Out of curiosity, do you foresee regulatory trouble?
by bbor 2y ago
Looks great, hopefully one day I’ll be able to use your services! Has all the features I’d be looking for.
Out of curiosity, do you foresee regulatory trouble? Realtors are an extremely powerful lobby in the United States, and I wouldn’t be surprised if they were one of the first to do some serious pushback against LLM-related automation under the guise of “protecting consumers”. You mention the recent National Realtors Association changes in your YC profile, which I did not know about (https://www.cnn.com/2024/08/17/business/nar-realtor-settlement-what-changes-wellness/index.html https://www.cnn.com/2024/08/17/business/nar-realtor-settleme..., TLDR antitrust settlement seeking to protect buyers in particular from predatory realty practices), but inspires both hope for the future and concern that the NAR is on active defense mode.
Specifically I guess I’m asking about your use of the word “traditional agent”, since on some level you two (or just the attorney partner?) seemingly would still be considered “agents” of some kind, given that you’re looking over offers by hand, and offering personalized support to users. Is there maybe a legal dance at play there already?
On a completely separate note, if you find the time/interest: will this ever scale to sellers’ realtors as well? If you unicorn-to-the-moon-super-scale as Mr. Graham is hoping for everyone in YC, what’s the endgame market look like? My laymen intuition says you’ll always need experts involved at certain points in the process to protect buyers from lemons and sellers from signing deceptive contracts - do you agree, or with the right regulations and AI could this all be as automatic as buying anything else online?
- greenfish6 2y agoThere will likely be large regulatory movement in the space in the upcoming future. There are more pending suits beyond the August 17th DoJ one. Legally, we are still agents. Eventually the plan is to support sell side as well. We are tackling buyers first. The reasons: Because realtors are paid for on commission, the incentive is to transact immediately and high. This has bad alignment for the buyer, but good alignment for the seller. Sellers also require a lot more in person logistics like staging and photography.