A companion pair of AI-powered applications that give homeowners the confidence to transact on their own — capturing a share of the $92 billion in annual U.S. commissions.
Sellers want to save the commission. Buyers want transparency. Neither has the tools to go it alone successfully — and the data proves it.
In 2023, a federal jury found the National Association of Realtors and major brokerages conspired to inflate commissions. NAR settled for $418 million in March 2024, agreeing to stop requiring sellers to pay buyer-agent commissions through the MLS and to mandate written buyer-agent agreements. The changes took effect August 17, 2024.
The prediction: commissions would fall. The reality: they didn't. The average buyer's agent commission rose to 2.42% by Q3 2025, and total commissions remain essentially unchanged at ~5.4%. One study found "no meaningful change" in commission rates or negotiation.
What did change: unrepresented buyers increased by ~1.7% nationally — a shift directly tied to the settlement. Buyers who once relied on a seller-paid agent are now navigating the process alone. They need tools. That is the gap Seller OS and BuyerSide fill.
Seller OS and BuyerSide act as virtual agents on each side of the deal — covering the full lifecycle from preparation to closing.
A virtual seller's agent for homeowners selling without a realtor. Guides the seller through preparing the property, pricing it, building and publishing the listing, handling enquiries and showings, comparing offers, and reaching closing.
A virtual buyer's agent for homebuyers purchasing without an agent. Guides the buyer through financing, property search, offer preparation, negotiation, inspections, and closing.
A functional, end-to-end application for a single seller to manage their entire sale process. Front end and back end built to a standard where a real seller can use it end to end. MVP launch Q1 2027.
Seller enters property details and budget; a personal selling plan is produced from that information.
Shows the seller what they save by selling without a listing agent, compared to paying a commission percentage.
Seller uploads interior and exterior photos. System reviews them, identifies issues, reports condition, and recommends repairs and staging.
Comparative searches against Zillow to support the pricing decision.
Generates the listing and highlights from photos and guided answers. Seller reviews and edits to make required changes.
Approved listing is posted to Zillow. Other listing sites are manual in v1 — the seller posts those themselves.
Enquiries arriving by text or email are brought into the app. Assistance scheduling showings and drafting responses.
Receive, record, and compare offers. Read the offer letter and extract terms. Provide suggestions on which offer to take.
Guides the seller through the closing process and preparation. Identifies documents needed, including title insurance and disclosures. Holds all documents in one place.
The process reflects the requirements of the state the property is in.
Seller logs in to a dashboard with multiple screens and tabs — property, photographs, listing builder, and documents.
Not a marketplace. Not a chatbot. Not a buyer-side product. Automated posting to listing sites other than Zillow (Trulia, Redfin) is deferred.
| Integration | Scope |
|---|---|
| Zillow | Posting the approved listing and comparative searches for pricing. Named as the primary integration and the only listing site automated in version one. |
| Email / SMS | Transactional service such as SendGrid or Mailchimp to evaluate different offers. |
| Large Language Model | Generating the listing, interpreting photographs, reading offer letters, and drafting responses. Not exposed as a chat interface. |
Increase automation, deepen intelligence, and extend marketing reach. All feature improvements complete by end of 2027.
Connect users with the essential services a transaction requires. All financial and home-service partners integrated by Q3 2027.
| Partner | Service Provided | Potential Revenue |
|---|---|---|
| Mortgage & financing providers | Financing for buyers, sellers purchasing another home, or home improvements | Provider software fees and permitted advertising arrangements |
| Homeowner insurance providers | Insurance quotes and coverage assistance | Permitted referral arrangements, advertising, or licensed partnerships |
| Title insurance & closing companies | Title work, document coordination, and closing services | Software fees or compensation for actual permitted services |
| Real-estate attorneys | Contract review, disclosures, and transaction advice | Software fees or permitted advertising |
| Partner | Service Provided | Potential Revenue |
|---|---|---|
| Home inspectors | Pre-listing and buyer inspections | Provider software, advertising, or other permitted service arrangements |
| Appraisers | Professional property valuations | Provider software or compensation for actual permitted services |
| Flat-fee MLS providers | Publish listings and manage listing updates | Software licensing or compensation for actual permitted services |
| Photographers & staging companies | Photos, floor plans, virtual tours, and staging | Booking commissions or service-package margins where permitted |
| Contractors & home-prep services | Repairs, cleaning, painting, landscaping, and junk removal | Permitted lead fees, booking fees, or provider subscriptions |
| Moving & storage companies | Moving, packing, truck rental, and storage | Affiliate or booking payments |
| Product suppliers | Signs, lockboxes, printed materials, and moving supplies | Affiliate commissions or retail margins |
| Internet & household-service providers | Service setup at the user's next home | Approved affiliate or activation payments |
The infrastructure that powers pricing intelligence, publishing, communication, and closing. All data connections live by Q3 2027.
| Requirement | What Seller OS Needs |
|---|---|
| Property data | Address-based autofill for bedrooms, bathrooms, square footage, lot size, year built, and property type |
| Comparable sales | Recent sold-home data to support comparable searches and recommended listing prices |
| Data-provider access | Evaluate Realcomp, ATTOM, RentCast, and authorized Zillow/Bridge access |
| MLS publishing | A listing-provider connection to submit approved content and receive publication confirmations and updates |
| Property websites | Links and permitted listing distribution to Zillow, Redfin, Realtor.com, and other supported sites |
| Requirement | What Seller OS Needs |
|---|---|
| Email & messaging | Receive inquiries, send approved replies, and import attachments into the property dashboard |
| Calendars | Google Calendar integration and iCalendar/ICS support for showings, inspections, appraisals, and closing dates |
| Electronic signatures | Send supported documents for signing and receive signed copies and completion status |
| Payments | Manage app purchases and any approved partner-service payments |
| Maps & address verification | Match properties, display comparables, and calculate distances |
License the Seller OS platform to businesses.
Offer white-label versions for brokerages, lenders, and franchises.
Sell clearly labeled advertising within the app.
With product, features, partners, and data all live by Q3 2027, the focus shifts to operational excellence, automated delivery, and infrastructure that scales from thousands to hundreds of thousands of transactions.
A multi-trillion dollar transaction market, a tightly defined serviceable segment, and an aggressive obtainable share.
| Market Context | |
|---|---|
| U.S. existing home sales (annual) | 4.06M units |
| Median existing home sale price | ~$400,000 |
| FSBO market share | 5% |
| FSBO transactions (annual) | ~203,000 |
| Unrepresented buyer segment (est.) | ~500,000/yr |
| Global PropTech market (2025) | $40.19B |
| Global PropTech market (2034 proj.) | $104.57B |
| PropTech CAGR (2025–2034) | 11.9–15.1% |
| Seller OS SOM Trajectory | Share | Transactions | Revenue |
|---|---|---|---|
| Year 1 (2027) | 3.0% | 6,090 | $4,561,410 |
| Year 2 (2028) | 6.0% | 12,180 | $9,122,820 |
| Year 3 (2029) | 11.0% | 22,330 | $16,725,170 |
| Year 4 (2030) | 16.0% | 32,480 | $24,327,520 |
| Year 5 (2031) | 22.0% | 44,660 | $33,450,340 |
The NAR settlement has created confusion around buyer-agent compensation, and more buyers are going unrepresented — yet they lack the tools a buyer's agent would provide.
Budget, pre-approval status, preferences, and timeline; a personal buying plan is produced.
Shows the buyer what they save by purchasing without a buyer's agent commission.
Search listings from MLS, Zillow, and other sources; alerts for new matches.
AI review of listings, photos, and disclosures; red flags and comparable sales.
Guided creation of purchase offers from approved templates; AI-assisted pricing.
Draft counter-offers, analyze seller responses, suggest strategies.
Central repository for disclosures, inspection reports, closing docs; AI summarization.
Track communications with sellers and listing agents; schedule showings.
Step-by-step closing process; document identification; title and lending coordination.
| BuyerSide SOM Trajectory | Share | Transactions | Revenue |
|---|---|---|---|
| Year 1 (2027) | 2.0% | 10,000 | $7,490,000 |
| Year 2 (2028) | 4.0% | 20,000 | $14,980,000 |
| Year 3 (2029) | 7.0% | 35,000 | $26,215,000 |
| Year 4 (2030) | 11.0% | 55,000 | $41,195,000 |
| Year 5 (2031) | 15.0% | 75,000 | $56,175,000 |
Two products, one transaction lifecycle, shared infrastructure, and compounding partner economics.
| Metric | Seller OS | BuyerSide | Combined |
|---|---|---|---|
| Year 3 (2029) transactions | 22,330 | 35,000 | 57,330 |
| Year 3 subscription revenue | $6,676,670 | $10,465,000 | $17,141,670 |
| Year 3 partner revenue | $10,048,500 | $15,750,000 | $25,798,500 |
| Year 3 total revenue | $16,725,170 | $26,215,000 | $42,940,170 |
| Year 5 (2031) transactions | 44,660 | 75,000 | 119,660 |
| Year 5 total revenue | $33,450,340 | $56,175,000 | $89,625,340 |
Four converging forces have opened a window that did not exist three years ago — and will close as incumbents react.
The 2024 settlement upended commission structures and created massive consumer confusion. Commissions have not fallen as predicted — the average buyer's agent commission is 2.42% and has actually risen slightly. Unrepresented buyers are increasing. Demand for transparency has never been higher.
LLMs can now generate listings, analyze photos, read contracts, and draft communications at near-professional quality — the exact capabilities that previously required a licensed human agent for every transaction.
The global PropTech market is growing at 11.9–15.1% CAGR, projected to reach $104.57 billion by 2034 — from $40.19 billion in 2025.
77% of homeowners found their most recent home themselves. 43% of FSBO sellers made legal mistakes and 64% missed their target price. The market is actively asking for a better solution.
Six structural advantages that are difficult to replicate quickly.
No competitor serves both sellers and buyers without agents. Seller OS and BuyerSide are companion apps covering the entire transaction lifecycle.
Built from the ground up with LLM-powered features for listing generation, photo interpretation, document analysis, and communication drafting.
Compliant with state-specific requirements for disclosures, contracts, and closing processes — a real barrier to entry that generic tools ignore.
Integrated with the services consumers already need: mortgage, title, insurance, inspection, moving, and more — turning a tool into a marketplace.
Full administrative control over AI models, templates, usage limits, and cost monitoring — essential for quality and unit economics at scale.
Explore free, Monthly at $59, Sale Pass at $299 for 12 months. iOS and Android purchases with full lifecycle management.
Combined Seller OS and BuyerSide revenue, with profitability from Year 2 and a $89.6M run-rate by 2031.
| Year | Revenue | Growth | EBITDA Margin | EBITDA |
|---|---|---|---|---|
| 2027 (partial-year ramp) | $12,051,410 | — | -30% | -$3,615,423 |
| 2028 (first full year) | $24,102,820 | 100% | 5% | $1,205,141 |
| 2029 | $42,940,170 | 78% | 25% | $10,735,043 |
| 2030 | $65,522,520 | 53% | 35% | $22,932,882 |
| 2031 | $89,625,340 | 37% | 42% | $37,642,643 |
Seller OS reaches 22% and BuyerSide 15% of their addressable segments by 2031.
$749 blended — $299 subscription + ~$450 partner revenue.
Full feature set, partners, and data live by Q3 2027 — accelerating revenue ramp into 2028.
Improves from ~55% to ~78% as AI inference costs decline and partner revenue scales.
At $89.6M Year 5 revenue and 42% EBITDA margin, the business supports a $750M–$1.1B enterprise value on standard SaaS and marketplace multiples.
| Valuation Benchmarks | Multiple | Value |
|---|---|---|
| Year 5 revenue (2031) | — | $89.6M |
| Year 5 EBITDA (2031) | — | $37.6M |
| EV / Revenue (conservative) | 8× | $717M |
| EV / Revenue (base) | 12× | $1.08B |
| EV / EBITDA (base) | 20× | $753M |
| EV / EBITDA (aggressive) | 28× | $1.05B |
| Round | Investment | Pre-Money | Ownership | Value at $750M | Value at $1.1B | MOIC |
|---|---|---|---|---|---|---|
| Seed (2026) | $7.5M | $30M | 20.0% | $150.0M | $220.0M | 20.0× – 29.3× |
| Series A (2027) | $15.0M | $150M | 9.1% | $68.2M | $100.0M | 4.5× – 6.7× |
We are raising $5–10M at a $30M pre-money valuation. The target is $7.5M — the midpoint — to fund 24 months of runway, ship both apps, complete all phases by Q3 2027, and reach a $24M revenue run-rate by 2028.
| Use of Funds | Amount | Share |
|---|---|---|
| Product development (Phases 1–3 + BuyerSide) | $3,000,000 | 40% |
| AI / ML infrastructure & inference compute | $1,200,000 | 16% |
| Partner integrations & state compliance | $1,200,000 | 16% |
| Marketing & user acquisition | $1,400,000 | 19% |
| Legal, compliance & entity structure | $400,000 | 5% |
| Working capital & reserve | $300,000 | 4% |
| Total | $7,500,000 | 100% |
| Milestones | Timeline |
|---|---|
| Seller OS MVP launch | Q1 2027 |
| Phase 2 feature improvements complete | Q2 2027 |
| Partners & data integrations complete | Q3 2027 |
| Scale & CI/CD operational | Q4 2027 |
| 25,000 combined users | Q2 2028 |
| $24M revenue run-rate | 2028 |
Seller OS and BuyerSide must ship in parallel to capture the market before incumbents react. That requires engineering bandwidth for two consumer apps, one shared AI backend, and two distinct state-compliance surfaces.
Real estate is regulated at the state level. Each state has different disclosure requirements, contract forms, e-signature rules, and partner compensation regulations. National rollout requires legal review and template development in all 50 states.
LLM inference for photo analysis, document parsing, listing generation, and communication drafting scales with users. The compute budget must be funded before revenue arrives.
Going from 0 to 22% FSBO share in five years requires significant marketing spend. Consumer CAC in real estate is high, and the brand must be established before Zillow, Compass, or Rocket enter the category.
Incumbents have the capital and distribution to enter this category. Speed is the moat, and speed costs money. A $3M raise buys 12 months; $7.5M buys 24 — the difference between leading the category and chasing it.
Partner integrations require upfront investment in API connections, legal review, and sometimes revenue-share guarantees before referral revenue scales.
Five credible acquirer categories, each with a distinct strategic rationale — and precedent transactions in the $500M–$2B range.
| Acquirer Type | Examples | Rationale |
|---|---|---|
| Major brokerage | Compass, eXp, Keller Williams | Acquire the technology and consumer base to launch a self-service tier and defend against commission compression. |
| Real estate portal | Zillow, Redfin, Realtor.com | Integrate virtual agent tools directly into existing listing platforms and monetize the transaction. |
| Financial services | Rocket Companies, Better | Expand from lending into full real estate transaction services and capture the purchase moment. |
| PropTech roll-up | MRI Software, Lone Wolf | Add a consumer-facing virtual agent to an existing portfolio of industry software. |
| IPO | Long-term | Become the category-defining platform for agentless transactions. |
$1.8B — portal acquiring transaction infrastructure.
$156M — portal acquiring listing platform.
$1.75B — lender acquiring transaction platform.
From MVP launch in Q1 2027 to full feature set, partners, and data live by Q3 2027 — then scale and CI/CD to drive $89.6M in revenue by 2031.
The four-phase roadmap: Core Product → Feature Improvements → Partners & Data → Scale & CI/CD.
Legal and compliance review for all partner revenue models before Phase 3 integration.
Technical discovery and scoping for Phase 1, focused on the Zillow integration and LLM capabilities.
Phase 1 budget, seed round terms, and the Q1 2027 launch timeline.