Tech Bytes: reAlpha enters a new market, eyes national expansion
The end-to-end homebuying platform is now in Texas. Meanwhile, Shilo has raised $2.6M for its AI assistant and Zillow Rentals is partnering with EliseAI.
Editor's note: Technology is a driving force in real estate. From startups to established players, tech companies are constantly innovating, growing and forging partnerships. Here we highlight some of the latest news about the companies that help power the industry.
reAlpha brings AI-powered homebuying platform to Texas
Homebuying startup reAlpha has officially moved into Texas, which the company says is its first step toward national expansion of its end-to-end platform. Buyers in the state can now use reAlpha's tools — including property search and document review — through a company- affiliated brokerage.
The goal: take the friction (and some of the cost) out of the buying process by integrating brokerage, mortgage and title services. reAlpha also offers consumers a 50% buyer's commission rebate.
"We're excited to expand into Texas, a key market with dynamic growth," reAlpha Founder and Executive Chairman Giri Devanur said. "Our AI simplifies the real estate process, saving time and money for buyers."
Texas joins Florida as locations where reAlpha is available, with more states in the pipeline, the company said.
Shilo raises $2.6M to grow AI assistant aimed at top agents
AI startup Shilo has closed a $2.6 million seed funding round led by AZ-VC. The company offers a virtual assistant for real estate professionals that is aimed at helping top-producing agents manage workflows, client interactions and task automation.
The funding will support hiring and product development as Shilo prepares to scale into additional U.S. markets.
"We're not here to build another tool," said Justin Benson, co-founder and CEO of Shilo. "We're here to build the AI teammate every elite agent will use daily" — an AI teammate that is "trained on the language, workflows and psychology" of real estate's top performers, the company said.
EliseAI-powered assistant coming to Zillow Rentals
Zillow unveiled an exclusive partnership with EliseAI to create a new chatbot called AI Assist, which is designed to help renters get questions answered and tours scheduled on multifamily listings 24/7 while reducing the back-and-forth for leasing teams.
"AI Assist will empower renters to get answers quickly and connect with properties when it's most convenient for them," said Michael Sherman, SVP of Zillow Rentals. The product is expected to roll out later this year.