The National Association of Realtor’s pocket-listing ban that goes into effect on May 1 will be a boon to OfferAI, an iBuying tech startup that provides a private marketplace that puts agents in the center of an instant-offer transaction.
“Agents are able to put a pocket listing on a private platform that can facilitate that sale in a way that conforms to the NAR rule,” said Jack Burns, Founder and CEO of the two-year-old startup.
OfferAI, based in Kirkland, Washington, currently is operating in nine states. By the end of the year, Burns said he expects the platform, which functions similar to a Craigslist for pocket listings and instant-offer transactions, to be in every state.
The company provides the technology for brokerages and agents to provide a “white label” iBuying platform – meaning, OfferAI clients take the service and put their own brand on it.
“We’re making it so we can be invisible and the agents and brokers can brand themselves,” Burns said in an interview.
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