Modern Realty

What do they actually do

Modern Realty runs two products today. First, an AI‑first CRM for real estate agents that pulls SMS, email, and social DMs into one inbox, drafts personalized replies, scores and prioritizes leads, matches properties from a single listing link, and surfaces follow‑ups and tasks. Agents connect a Twilio number and an email‑sending service to send/receive through the system, and teams get shared templates, permissions, and lead transfer features modernrealty.io.

Second, a buyer‑facing “AI realtor” experience that helps consumers search, schedule showings, generate disclosures summaries and comps, and draft offers that are reviewed by an attorney before submission. This buyer flow has been publicly demoed and reported as operating initially in limited geographies (e.g., California) Launch HN, HousingWire, USA Today, YouTube).

The team’s near‑term focus is to automate repetitive buyer‑side work while keeping humans for negotiation and legal review, with plans to deepen integrations and expand to sell‑side workflows and brokerage‑level features over time Launch HN, modernrealty.io.

Who are their target customer(s)

• Solo residential agent: Struggles to keep up with SMS, email, and DMs; spends hours crafting replies and chasing follow‑ups, which leads to slow responses and lost leads. Manual comps and offer drafting are time‑consuming and risky without attorney backup.
• Small team lead: Manually assigns and transfers leads, causing dropped handoffs and uneven response times. Needs a shared view of priority leads and automation so senior agents can focus on high‑value conversations.
• Brokerage/operations manager: Has difficulty enforcing consistent workflows and compliance across many agents while managing legal risk and compensation. Wastes time integrating tools and training on repeatable processes instead of growing listings and revenue.
• Homebuyer seeking lower‑friction purchase: Overwhelmed by search, tour scheduling, and preparing accurate comps and offer paperwork; worries about costly mistakes. Wants clearer guidance and fewer back‑and‑forths with agents and attorneys.
• Transaction coordinator / admin: Repetitive data entry, scheduling, and deadline tracking across multiple systems creates errors and liability. Missing contingency dates or misplacing documents delays closings.

How would they acquire their first 10, 50, and 100 customers

• First 10: Founder‑led pilots with California solo agents and small teams using in‑person demos, local groups, and targeted outreach; offer a 30‑day free trial with white‑glove onboarding to connect Twilio/Resend and import contacts so the unified inbox and AI replies show immediate value modernrealty.io, Launch HN.
• First 50: Leverage integrations and partners (e.g., Follow Up Boss, Twilio resellers, local brokerages) for co‑marketing and bulk trials; amplify early PR/coverage to attract teams and coordinators, and add simple referral rewards for multi‑seat expansion modernrealty.io, HousingWire, USA Today.
• First 100: Hire a salesperson to close small‑broker pilots using case studies from early customers; offer a low‑risk enterprise onboarding package (limited free seats, documented workflows, SLA on attorney‑reviewed offers) and run targeted local buyer ads to feed the buyer–agent funnel. Continue marketplace placements and attend MLS/brokerage events to drive inbound modernrealty.io, Launch HN.

What is the rough total addressable market

Top-down context:

Two parts: (A) agent/broker CRM spend by ~1.53M U.S. REALTORS and ~360k firms, and (B) buyer transactions of roughly 4–5M events/year that could use an AI‑buyer workflow NAR, NAR Quick Stats, Census.

Bottom-up calculation:

Using NAR’s 1.53M members with ~76% solo and ~23% on teams, pricing of $1,788/yr for solos, $4,788/yr per team (2 seats), and $11,988/yr per brokerage, yields ≈$3.0B serviceable ARR if ~1.16M solos, ~176k teams, and ~10k brokerages adopt NAR Member Profile, modernrealty.io/pricing.

Assumptions:

• NAR membership approximates the potential CRM‑buying universe, though not all are active sales agents.
• Every team buys the team plan and solos buy solo; enterprise adoption is limited (10k brokerages).
• Geographic and regulatory scaling do not materially constrain U.S. distribution for the CRM product.

Who are some of their notable competitors

• kvCORE (Inside Real Estate): All‑in‑one agent CRM and lead‑gen platform for brokers/teams with IDX sites, nurture campaigns, behavioral scoring, and built‑in calling/texting; overlaps on CRM automation but is a broader suite rather than an AI‑first inbox plus buyer agent flow.
• Follow Up Boss: Focused real‑estate CRM for solos/teams with unified team inbox, call/text routing, lead assignment, and action plans; overlaps on consolidated communications and workflows but is primarily human‑driven rather than AI‑drafted replies docs.
• Structurely: AI conversational assistant that texts/calls leads, qualifies them, and sets appointments; closest on automated two‑way messaging and lead triage but not a full buyer search/offer workflow with attorney review.
• Redfin: Tech‑enabled national brokerage with consumer tools for tour scheduling and offer prep plus internal agent tools; competes on end‑to‑end buyer experience but is an integrated brokerage rather than standalone SaaS support.
• HomeLight: Consumer platform for agent matching and transaction products (cash offers, trade‑in, Simple Sale); overlaps on lowering buyer friction but core is matching/financing products rather than an agent‑centric AI inbox and live offer generation Simple Sale.