MaxHome, an AI-native platform for real estate agents and brokerages, announced today that it has secured $2M in a pre-seed funding round led by BBG Ventures, with participation from Power of N and Fortitude Ventures. Real estate transactions are notoriously time-consuming, involving numerous manual and repetitive tasks that drain resources and reduce operating margins for brokerages. To solve for these inefficiencies, MaxHome is leveraging AI to automate over 70% of tasks involved in managing real estate transactions.
SAN FRANCISCO, Dec. 5, 2024 /PRNewswire-PRWeb/ -- MaxHome, an AI-native platform for real estate agents and brokerages, announced today that it has secured $2M in a pre-seed funding round led by BBG Ventures, with participation from Power of N and Fortitude Ventures. The funding will be used to strengthen its product suite, expand its team, and scale its presence in the real estate brokerage market.
Real estate transactions are notoriously time-consuming, involving numerous manual and repetitive tasks that drain resources and reduce operating margins for brokerages. On average, real estate agents spend over 50% of their time on handling paperwork and coordinating the transaction journey among up to 15 different parties per transaction, which leaves less time for client engagement.
To solve for these inefficiencies, MaxHome is leveraging AI to create a streamlined, efficient, and transparent journey for everyone involved. MaxHome's operating system is built to tackle the everyday complexities of a real estate transaction. MaxHome automates over 70% of tasks involved in managing real estate transactions, including contract-to-closing processes, reducing manual data entry, compliance checks and eliminating repetitive tasks for real estate agents.
MaxHome has already formed partnerships with leading real estate brokerages, including Baird & Warner, which ranks as the #13 privately held brokerage with a sales volume of $5.1 billion, and the Jason Mitchell Group, recognized as the #2 largest real estate team in the nation with a sales volume of $4.2 billion.
"We are continuously investing in the latest technologies to deliver the best real estate experience both for our agents and customers. MaxHome AI has the potential to significantly improve the streamlining our brokerage operations and help us achieve our objectives. The Processing Copilot we've launched with MaxHome has already optimized our internal workflows, and we're looking forward to partnering with them in elevating the end-to-end experience even further," said Federico Masias, CINO, Baird & Warner.
A recent McKinsey report estimates that generative AI could add $110 billion to $180 billion in value to the real estate industry over the next few years, further highlighting the transformative potential of MaxHome's AI-powered platform.
"We've been impressed by Divya's forward-looking view of where the real estate world is heading from her experience building the real estate agent network at Better and insights about how to free up time for agents, empowering them to spend more time in revenue-generating work. We're thrilled to back MaxHome in supporting real estate agents and brokerages to better run their businesses by leveraging advancements in AI to augment agent workflows and incorporate data into decision-making, ultimately elevating the experience for both buyers and sellers," said Claire Biernacki from BBG Ventures.
"By automating up to 70% of tasks agents typically handle, MaxHome empowers real estate professionals to focus on revenue-generating work, while brokerages benefit from cost reductions, better operations, and an enhanced customer journey," said Divya Aathresh, Founder of MaxHome. "We have trained our AI models to understand real estate-specific terminology, real estate-specific processes and local regulations, allowing agents to focus on higher-value activities, and ensuring a smoother, more transparent experience for clients."
MaxHome's automation also addresses the need for real estate brokerages to improve operational efficiency in the wake of the recent National Association of Realtors (NAR) ruling, which removed the mandatory commission structure. With buyer agent commissions—estimated at $100 billion annually—under pressure with buyer agents justifying their value, the need for streamlined operations and customer satisfaction has become more critical than ever.
Aathresh founded MaxHome, leveraging her experience from developing a real estate agent partner network and in-house brokerage at Better.com. She built Better.com's real estate division to over 15,000 agents.
"Every real estate transaction is unique, which makes it difficult to solve the industry's challenges with a traditional software-first approach," said Aathresh. "The idea for MaxHome came from recognizing the game-changing potential of generative AI in addressing these challenges. We're thrilled that our customers are already seeing how it streamlines processes. Our ultimate goal is to give brokerages and agents more time to focus on what truly matters—building relationships and delivering exceptional customer experiences."
For more information, please visit https://maxhome.ai.
About MaxHome:
MaxHome is an AI-native platform designed specifically for residential real estate brokerages. Its AI-powered operating system automates transaction management, compliance, and agent workflows, reducing manual processes and improving operational efficiency. Through AI-powered automation, MaxHome helps brokerages reduce operational costs, improve margins, and deliver a superior customer experience.
Media Contact
Tanya Hayre Gillogley, MaxHome, 1 646) 571-8046, [email protected], https://maxhome.ai
SOURCE MaxHome
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