AI and Real Estate: How Modern Realty Is Leading the Charge

Modern Realty, founded in 2024 and based in San Francisco, is a pioneering start-up that aims to revolutionize the home-buying experience with its AI-powered real estate agent. The traditional real estate market is characterized by a 3% commission paid by sellers to the buyer's agent. However, a recent lawsuit against the National Association of Realtors is set to shift this cost burden to buyers, potentially adding significant expenses to the already high cost of purchasing a home. Modern Realty offers an innovative self-service alternative that eliminates the need for a traditional realtor, making the process more affordable and efficient.

How Does Modern Realty Simplify Home Buying?

Modern Realty leverages cutting-edge AI technology to guide users through the home-buying process step-by-step. The platform caters to both buyers who have a specific home in mind and those who are just beginning their search. Modern Realty provides a comprehensive suite of tools and support to help navigate the often complex and daunting real estate market. Key features include the ability to schedule in-person showings, determine how much to offer, and create and submit offers directly through the website. The software is free to use, with fees only applied upon successful home purchase. Additionally, Modern Realty's team of experienced lawyers and real estate agents is available to provide assistance whenever needed, ensuring that users have access to expert guidance throughout their home-buying journey.

Who Are the Founders of Modern Realty?

Modern Realty was founded by Raymond Xu and Raffi Isanians, two professionals with complementary expertise and a shared vision for transforming the real estate industry. Raymond Xu, an ex-Google Machine Learning Software Engineer, brings a wealth of experience in AI technology and has previously developed a successful RAG product. Raffi Isanians, an attorney and realtor, has extensive experience in handling transactions for assets worth over $10 billion. Together, they combine their technical and legal expertise to create a seamless and efficient home-buying process that empowers users to take control of their real estate transactions.

What Services Does Modern Realty Offer?

Modern Realty offers a comprehensive suite of services designed to streamline the home-buying process and provide users with the tools and support they need to make informed decisions. Key services include:

Disclosure Summary: Modern Realty provides detailed information on critical aspects of a potential home purchase, including homeowner’s associations (pet ownership and rental policies), land zones, taxes, liens/debts, inspections, and necessary repairs. This ensures that buyers have all the information they need to make a well-informed decision.
Make Offers Online: The platform allows users to generate and submit offers directly through the website. All offers are reviewed by an attorney at no additional cost, providing an added layer of security and professionalism.
Schedule Private Showings: Modern Realty's AI tools automate the scheduling of private showings directly with sellers, eliminating the need for buyers to communicate with an agent. This feature saves time and simplifies the process, making it more convenient for buyers.
Competitive Market Analysis: The platform provides comprehensive data on nearby sales, helping buyers make informed bidding decisions. By analyzing the median percentage over the list price and other relevant data, buyers can make competitive offers that are more likely to be accepted.

Why Choose Modern Realty?

Modern Realty stands out in the real estate industry for its ability to make the home-buying process more accessible, affordable, and user-friendly. By utilizing advanced AI technology, Modern Realty automates many of the tasks traditionally handled by realtors, allowing buyers to take control of their home search and purchase. This approach not only reduces costs but also provides a more personalized and transparent experience. With Modern Realty, buyers can enjoy a streamlined process that empowers them to make informed decisions and achieve their home-buying goals with greater ease and confidence.

How Does Modern Realty Ensure a Smooth Transaction?

Modern Realty’s platform is meticulously designed to guide buyers through each step of the home-buying process, ensuring a smooth and efficient transaction. From understanding disclosure summaries to making offers and scheduling showings, Modern Realty provides the tools and support needed to navigate the real estate market confidently. The platform’s integration with legal and real estate professionals ensures that all transactions are handled with the highest level of expertise and care, providing buyers with peace of mind and a seamless home-buying experience.

What Are the Benefits of Using Modern Realty?

Using Modern Realty offers several key benefits that make it an attractive option for home buyers:

Cost Savings: By eliminating the need for a traditional realtor, buyers can save thousands of dollars in commission fees. This cost-saving aspect is particularly significant given the impending shift in commission payment responsibilities due to recent legal developments.
Convenience: The AI-powered platform automates many aspects of the home-buying process, making it easier and more efficient for buyers to find and purchase their ideal home. The ability to schedule showings, make offers, and access detailed property information all in one place adds to the convenience and user-friendliness of the platform.
Expert Support: Modern Realty’s team of experienced lawyers and real estate agents is available to provide assistance and guidance whenever needed. This ensures that buyers have access to professional advice and support throughout their home-buying journey.
Transparency: The platform provides comprehensive information and data, helping buyers make informed decisions. By offering detailed disclosure summaries and competitive market analysis, Modern Realty ensures that buyers have all the information they need to make confident and informed decisions.

How Is Modern Realty Transforming the Real Estate Industry?

Modern Realty is at the forefront of transforming the real estate industry by leveraging AI technology to streamline the home-buying process. This innovative approach addresses the inefficiencies and high costs associated with traditional real estate transactions. By providing a self-service platform, Modern Realty empowers buyers to take control of their home search and purchase, making the process more transparent and accessible. The company's commitment to continuous improvement and innovation positions it as a leader in the evolving real estate landscape, setting new standards for efficiency, affordability, and user experience.

What Is the Future of Modern Realty?

As Modern Realty continues to grow, it aims to further enhance its AI capabilities and expand its range of services. The company is committed to continuously improving the home-buying experience, making it more efficient, affordable, and user-friendly. With the real estate market evolving and buyers increasingly seeking digital solutions, Modern Realty is well-positioned to lead the way in this transformation. The company’s future plans include expanding its service offerings, incorporating new technologies, and exploring partnerships that can further enhance its value proposition to buyers.

How Can Buyers Get Started with Modern Realty?

Getting started with Modern Realty is simple and straightforward. Buyers can visit the Modern Realty website to begin their home search, schedule showings, and create offers. The platform’s user-friendly interface and comprehensive tools make it easy for buyers to navigate the process and make informed decisions. For those who need additional support, Modern Realty’s team of experts is always available to provide assistance and guidance. By offering a seamless and intuitive user experience, Modern Realty ensures that buyers can start their home-buying journey with confidence and ease.

Conclusion: Why Modern Realty Is the Future of Home Buying

Modern Realty offers a revolutionary approach to home buying, combining advanced AI technology with expert support to create a more efficient, affordable, and transparent process. By eliminating the need for traditional realtors and providing a self-service platform, Modern Realty empowers buyers to take control of their home search and purchase. With its innovative services and commitment to continuous improvement, Modern Realty is poised to transform the real estate industry and shape the future of home buying. Buyers looking for a more cost-effective, convenient, and informed home-buying experience will find Modern Realty to be a valuable partner in achieving their real estate goals. As the company continues to evolve and expand, it remains dedicated to providing the best possible experience for its users, making home buying simpler, smarter, and more accessible than ever before.