Real-Estate Chatbot RealFriend’s Pitch Deck for Its Seed Round

In a “time is money” industry, creating an MLS-ready image on Collov AI takes just seconds. With traditional methods, agents are still coordinating furniture rentals, photography sessions, and back-and-forth revisions with outsourced teams. Key values from documents like lease agreements and property condition assessments can be extracted and compared to find issues like mismatched values or different addresses listed on each document. Inconsistencies can be flagged for follow-up, helping reduce the risk of fraud or delays in the loan approval process.

Once shoppers choose their favorite features, HomLuv creates a profile and then matches shoppers with a growing network of home builders. “The defendants in this case unlawfully lined their pockets at the expense of New Jersey renters who struggled to pay the increasingly unlivable price levels imposed by this cartel,” Platkin said in a press release. New Jersey Attorney General Matthew Platkin filed his own lawsuit in April against 10 of New Jersey’s largest landlords and RealPage over the alleged use of software that forced “tens of thousands” New Jersey residents to overpay for rent. The ordinance comes on the heels of a similar bill proposed in fall 2024, which is currently stalled in the state Legislature, Gothamist reported. Rent prices in the city have increased by 50% since 2015, according to a 2024 report by the nonprofit Regional Plan Association. The city was the country’s third most expensive city to rent in April, according to Zumper, right after New York City and San Francisco.

• Although there are paid tools available, you can start for free using tools like ChatGPT.
• Would you like to see how the new furniture you love looks in a home you’re considering?
• It does not modify photos in ways that distort room dimensions or alter permanent fixtures.
• Real estate brokerages and online marketplaces devote careful scrutiny to the development and oversight of AI.

Potential Challenges For Industry Leaders

As data availability and transparency increase, AI’s profound impact on the commercial real estate landscape will empower industry participants to embrace data-driven approaches to enhance decision-making. Stakeholders who understand this monumental shift now can have a significant advantage compared with their peers. Matias Recchia is Co-Founder and CEO of Keyway, the commercial real estate technology platform designed for small and medium businesses. The app then schedules a rental showing, and then after the showing, asks for feedback. The user explains why they want to pass on it with quite specific details, prompting Luke to suggest another apartment that matches one of the user’s concerns. Those concerns are also logged into RealFriend’s backend database, so that the company doesn’t recommend this apartment to people with the same concerns.

Early experiments with chatbots and a bad experience apartment hunting led the two to make real estate their focus.

„Our mission is to help professionals and first-time investors build passive income and long-term wealth through real estate, regardless of immigration status or investing background.“ With technology rapidly advancing, Zumper is the latest company in the real estate industry to dive into artificial intelligence (AI) assistants. The process continues to be dominated by stagers, photographers, marketing agencies, and human virtual staging providers—leaving sellers to shoulder the cost, time, and coordination. According to a recent survey of 750 CFOs at major real estate firms, only 14% of real estate companies are actively using AI. And for many professionals, “using AI” still means little more than drafting listing descriptions or social media copies with ChatGPT.

PropertyNest

Over the past few years, Zillow has incorporated AI into a number of its products, including home searches, tours, fair housing goals and a “natural language search” assistant. This user-friendly product has helped many agents—especially those new to AI—build confidence and interest in integrating technology into their daily workflow. The simplicity of the one-click design has even inspired some buyer agents to snap photos of empty properties during showings and present AI-staged versions to clients on the spot.

HomLuv focuses solely on new construction and lets buyers shop based on design features. „People are completely unprepared, even when they’re looking for a property to rent,“ says Shin, who has worked as an agent at EXR and Compass, and was an editor at the personal finance site MyBankTracker.com. „My goal was to actually have that conversation and eliminate that education period so consumers are right away prepared.“ „There are a lot of problems with going to websites and seeing the same property over again,“ says Sean Muir, the company’s product designer. Enforcement of code violations includes the ability for residents to sue landlords or submit complaints to the city over the use of algorithmic rent-setting, according to Solomon.

How AI Is Changing The Real Estate Industry

But with any technology, especially newer ones, there is the risk of inaccuracies and misinformation. Industry leaders say there haven’t been major AI missteps, but they are being vigilant. That said, overall, AI is revolutionizing the real estate industry by improving operational efficiency, reducing errors and automating manual tasks. While the examples mentioned here are just the beginning, they demonstrate the immense potential of AI in real estate.

Are lender assistance programs like Zillow’s the future of home buying?

Would you like to see how the new furniture you love looks in a home you’re considering? There are AI apps for that, too, at popular retailers such as Wayfair, Target, and IKEA. Finally, the adoption of AI technology could inadvertently widen the digital divide, making it more difficult for entry-level analysts to navigate real estate transactions.

eXp team leader David Brooke on how to overcome industry myths

• In 2019, the chatbot spoke to almost 54,000 renters in a city where 50,000 apartments are rented a year.
• In New York, Klinger said they’re seeing lower prices and landlords offering many concessions to potential tenants, with landlords offering winter pricing during the peak summer months.
• The app then schedules a rental showing, and then after the showing, asks for feedback.

Luke’s engine, which combines information from many apartment listing sites, is able to give data about its affordability compared to the market as well. The company used the above chat log, which shows a user „introducing“ Luke to their mom, as an example of the bot’s conversational skill, especially in relation to other rental search options online. That problem is what convinced long-time collaborators Omri Klinger and Hadar Landau to apply the AI-chatbot they had been building to the world of real-estate rentals in 2017 with the launch of RealFriend. Rental income has outpaced wage growth by 270% since 2010, making real estate one of the most resilient wealth-building opportunities. The average U.S. landlord earns $97,000 annually across just three properties.

The platform provides users with exclusive access to off-market rental properties, automated deal analysis, creative financing options, and expert coaching, addressing key challenges faced by first-time investors and visa holders. CovertNest is an AI-powered real estate investment platform helping W-2 employees, immigrants, and first-time investors build passive income through rental properties. The company combines exclusive property opportunities, automated analysis, and expert coaching to make real estate investing accessible for busy professionals.

The information allows landlords to boost profits by selecting the most financially advantageous rental prices, lease terms or occupancy levels for their buildings. The demand came from users who were reevaluating their current apartment after being locked-inside, as well as those looking for lower prices and potential concessions, said Klinger. Chatbots are also more widely accessible to users who aren’t as comfortable with tech and don’t want to learn a whole new app. Landau gave the example of an older customer who uses voice-to-text to communicate with Luke, something that would be significantly more challenging if Luke were an app.