Hey, Homie

Here we go with another RE startup that hopes to replace…


The problem with real estate transactions is not the realtors but the lawyers that show up when problems occur. The CAR purchase agreement and their 100 other forms are rewritten daily by a team of lawyers. How is Homie going to handle that?


Now, are other states’ RE docs as thick as needed for say CA? Maybe these services can only really serve those “easier” states…

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My brother in law is a Utah real estate attorney. He has done well. A lot of California buyers in Utah. And a lot of lawyers. I doubt it is much different. The issues are the same. Disclosure title neighbor issues inspections buyers remorse multiple offers… plenty to go wrong… maybe just smaller purchase prices


You have to admit, this area (RE transaction disclosures, etc) is ripe for technology if the right player can actually do it and do it well. 5-6% comm for 1M+ homes is a lot. I realize your wifey is a RE agent (you ain’t hurting anyway) but one day there will be some streamlining. It has to, as everyone is aiming to solve the Holy Grail…


In the east coast like in Boston all RE transactions require a lawyer. The motivation to get rid of RE agents may make things worse.
Might require lawyers everywhere.
My brother in law mainly does commercial transactions and leases. They all require lawyers. The RE system in CA is patterned after litigation. It assumes an adversary system with both sides represented. In Europe there is no MLS only one RE agent per transaction. That system costs less but there is less transparency. Americans demand to know everything about everything and to be represented is an expensive system.

I agree there are always new things coming up in terms of requirements but let’s use Turbo Tax as an example since I have to pick up it later. I mean new laws are coming, so Intuit I am sure is ramping up to address those new laws in its software. It has to. So, why can’t one of these startups sort of get their arms around all of the basic/standard disclosures, automate those at least. That, should help some, no?

CAR has done a good job especially with DocuSign. But someone familiar with the whole process is needed. People need to pushed. Egos get bruised. Buyers and sellers don’t trust each other. Lot of human interaction.
Plenty of issues for potential conflict.
A lot of this has to do with the the break down of civil society. When my parents bought there house in 1962 there was one half page hand typed contract. It was simpler than buying a car in those days… A lot has changed since …

Agreed! But let’s continue to use my Turbo Tax example. Would you agree that the current tax code or entire book of tax laws is fairly complex, if not more so than RE laws? Well, doesn’t Turbo Tax do a reasonably decent job in handling pretty much all situations with taxes? I get what you are saying, but people see this area as a potential goldmine for fixing if you will. Yes, Uber is facing issues right and left, but wasn’t that a concept that wanted to challenge the taxi monopoly essentially? Uber is worth a fair penny, no?

Lots of people trying to disrupt the RE industry like Redfin have failed. Zillow is making money but hardly disruptive. In fact they just fleece realtors. Realtors disappear Zillow is done. I think it would be possible to have more disclosures available on the net like on Property Shark.
But inspectors are still needed and negotiating is key for all the inter personal interactions between buyers and sellers.
I have done clean deals without realtors but other deals got ugly. Some people are just stupid and unreasonable.
I deal with tenants all the time like that.

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That’s the key reason why our government sucks and infrastructure projects expensive. Too many random people with random issues demand a say in everything.


You have rentals in SF? /sarc

I’ve known a few SF renters and their attitudes about “what the landlord owes me” cause me to wonder if I’ve stepped into a dystopian world of the future.

When a tenant gives me attitude I tell them they can talk to my lawyer…

Here ya go, @Elt1… it will be life transforming, I tell ya…

The biggest RE innovation in the last 20 years is DocuSign. Nothing comes close.

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Eventually, anything and everything will be “online” thingy.

Lawyers will be needed only for court hearings. They are just administrative lawyers anyway, they don’t make law, they just interpret law.

Realtors will eventually go too. Too much cry babying. In any other countries, you go to see the property, get some disclosures, hire your experts, and buy on your own recognizance.

Escrow is what I don’t know if it will stay.

If fully digitized, don’t need lawyers. AI would make the judgement.

Oh…come on! We need to see the crying of “I didn’t do it! My dog did it!” :smiley: