Seattle startup Flyhomes has acquired technology from San Francisco-based ZeroDown to enhance its real estate search capabilities. Flyhomes, founded in 2016, has previously focused on providing fast funding to homebuyers and allowing sellers to buy before they sell. The acquisition of ZeroDown’s AI-fueled software allows Flyhomes to enter the real estate search market more aggressively. The integration of ZeroDown’s database and home search technology has expanded Flyhomes’ platform to 28 U.S. states and Washington D.C., putting it in direct competition with companies like Zillow Group and Redfin.
ZeroDown, founded in 2018, initially bought homes on behalf of buyers and leased them back but later shifted towards developing an AI-powered home search portal. The acquisition by Flyhomes and the integration of ZeroDown’s data, which is sourced from 40 public sources, has allowed Flyhomes to provide detailed information about homes and answer questions using generative AI. By complying with the Fair Housing Act, Flyhomes ensures that questions that could violate housing discrimination laws are not answered. This move aligns with the recent National Association of Realtors commission lawsuit settlement, which requires buyers to sign agreements with their agents at the beginning of the homebuying process, potentially driving more traffic to platforms like Flyhomes.
Flyhomes, ranked 45th on the GeekWire 200 list, has raised $190 million in equity funding to date. The company has expanded its partnerships with outside loan officers and real estate agents to increase its presence nationwide. In October, Flyhomes launched a partner channel to offer its products to third parties, moving away from working with its own representatives. This shift, along with the acquisition of assets from Home Sale Assured and Loftium, signals Flyhomes’ growth strategy following multiple rounds of layoffs over the past two years due to the real estate slowdown.
The addition of employees from ZeroDown, including co-founders Laks Srini and Abhijeet Dwivedi, has bolstered Flyhomes’ team. Srini now serves as Flyhomes’ CTO, while Dwivedi is the chief growth officer. The terms of the deal with ZeroDown were not disclosed, but the acquisition has enabled Flyhomes to enhance its AI capabilities and offer a more comprehensive real estate search experience to consumers. The use of AI-driven technology to provide detailed property information and answer buyer questions aligns with industry trends and positions Flyhomes as a competitive player in the real estate market.
In response to the changing landscape of the real estate industry and increased consumer demand for online information, Flyhomes has expanded its platform to provide a more comprehensive search experience. By leveraging the technology from ZeroDown, Flyhomes has integrated detailed property data from multiple sources and implemented generative AI to enhance the buyer experience. This strategic move allows Flyhomes to compete with industry giants like Zillow Group and Redfin by offering a more personalized and informative real estate search experience to consumers across multiple states in the U.S.
The acquisition of ZeroDown’s technology by Flyhomes signifies a shift in the company’s strategy towards the beginning of the homebuying journey. By focusing on providing comprehensive property information and AI-driven tools to answer buyer questions, Flyhomes aims to reduce friction for customers and meet the changing demands of the market. With a strong focus on compliance with housing laws and regulations, Flyhomes is well-positioned to leverage the recent changes in the industry, such as the National Association of Realtors commission lawsuit settlement, to drive traffic to its platform and continue its growth trajectory as a key player in the real estate technology space.
