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etMyHome, an AI-powered homebuying tech startup, has secured $1.5 million in pre-seed funding from Wischoff Ventures and Progression Fund, CEO Haibo Zhao reveals exclusively to Axios.

    The NAR settlement earlier this year has significantly reduced commissions for real estate agents, making it a prime time for innovative solutions like GetMyHome. The platform streamlines the homebuying process using automation tools and AI agents, providing a standard workflow from offer-making to escrow supervision.

    GetMyHome offers an AI-based home valuation report and SWOT analysis to prevent overbidding, as well as on-demand AI support for buyer questions in real-time. Unlike other startups, GetMyHome partners with licensed agents, providing them with tech to serve clients more efficiently.

    "I don't think AI can replace human agents yet," Zhao says. "There are too many human aspects to this process."

    The NAR settlement has changed the commission landscape, allowing buyers to negotiate their agent's fees. Real estate commissions have already fallen in some areas, and GetMyHome is poised to take advantage of this shift.

    GetMyHome focuses on sophisticated buyers who require less assistance and want more control over the process. The company charges a 0.6% agent commission at close, compared to the typical 3% for most buyer's agents. A "premium" package with a 0.99% commission is also available for first-time buyers or those needing more help.

    GetMyHome currently operates in Los Angeles and Southern California but plans to expand to Northern California early next year.