An AI-driven homebuying model is picking up steam 

The vision of an AI-driven home purchase is quickly taking shape in Florida, and buyers in other states may soon have access to the technology. 

Homa, a proptech company focused on helping buyers transact without a traditional agent, completed its first AI-assisted sale last month in Florida. Momentum has been growing since the company launched in April, and Homa is now eyeing states including Texas and California as it looks to expand early next year, according to CEO and Co-founder Arman Javaherian.

'We still have human agents': While the company originally envisioned a fully AI-powered, DIY buyer experience, the market test in Florida showed that human buyer agents still add value to the transaction. Rather than relying on AI tools alone, Javaherian believes Homa can succeed by attracting buyers with their low-fee model, then using tech to handle the more tedious parts of the transaction.

"We still have human agents on the team," Javaherian told Real Estate News. "They're still helping buyers. We're just leveraging technology to help them be more efficient, which is what all these brokers are trying to do right now anyway."

Commission fee rebates: One reason an agent is still needed? So buyers can get a piece of the commission fees. Javaherian said many listing contracts state that if the seller has agreed to cover the buyer agent commission — but a buyer is representing themself — the listing agent gets to pocket the entire commission fee. 

Homa provides a transaction broker so the commission can still be split, then the company refunds the commission back to the buyer, minus a flat fee — currently $1,195. That's a significant savings: A buyer would pay about $12,000 on a $400,000 home with a 3% buyer agent commission.

'Disrupting an antiquated industry': While initially geared toward experienced homebuyers, Homa has also seen interest from first-timers, especially tech-savvy buyers who are more price conscious. For some, avoiding commission fees might be key to affording the house they want.

"These AI-powered transactions are proof that homebuyers can and should be in complete control of the biggest purchase of their lives," Javaherian said. 

"We are fundamentally disrupting an antiquated industry by putting expert-level knowledge directly into the handof the buyer, removing agent pressure and bias from the equation. This is a major step toward making homeownership more accessible and affordable for everyone."

Javaherian has also been encouraged by conversations he's had with politicians and other government officials about his business model.

"To them, access to homeownership and the high cost of housing is literally their number-one concern," Javaherian said.