Mave, an AI assistant for real estate, announced it has raised C$2 million in pre-seed funding and launched a beta program for agents and brokers. The funding round, which was raised and closed in just a few weeks, was led by Relay Ventures and N49P, with participation from Alate Partners, Clarim Ventures, Gambit Partners, and several angel and strategic investors, including former presidents participated. Toronto Real Estate Board.
After purchasing their first home, Mave founder and CEO Raz Zohar and his wife became interested in the extensive and time-consuming work that real estate agents do behind the scenes to close a deal. More than 4.5 million homes are sold annually in North America by 2 million agents across 350,000 brokerages. Raz wanted to understand why agents spend more than 35 hours managing each deal and why the industry hasn’t improved much.
There, he became an executive assistant to agents across the Greater Toronto Area (GTA), where agents constantly requested his time and responded to calls, texts, and emails to manage tasks while addressing the needs of clients across the city. I have experienced firsthand what it means to be dependent on. .
Raz said brokerages are meant to support agents, but as commission splits per trade become smaller and smaller, many brokerages lack the resources for dedicated back-end support. I learned that there is. Recognizing this gap and the opportunities presented by rapid improvements in artificial intelligence (AI) and large-scale language models (LLM), Mave was born as an AI assistant for real estate agents and brokers.
Although Mave is operating in stealth mode, it has garnered interest from over 6,000 real estate agents across 90+ brokerages in the GTA. From this pool of potential users, Mave then selected the first 1,000 to onboard as part of the beta program.
To support agents, the Mave team has worked to ensure access to extensive market data and relevant real estate information through partnerships with real estate commissions and other data providers. The Mave AI assistant is trained with these deep insights, allowing real estate agents to leverage market and neighborhood insights to instantly respond to customer requests and provide better customer service.
Agents can simply text Mave questions like, “What is the price per square foot for a home in this zip code?” Through Mave, investigation and analysis takes agents less than a full day.
With Mave AI Assistant, agent productivity is increased and agents can finally give agents the support they need to turn the stressful and anxiety-inducing experience of buying and selling a home into a seamless transaction. Masu. Mave also quickly automates backend tasks like creating social media posts, marketing materials, emails, and presentations in seconds instead of hours or days. Because agents primarily use their phones to send texts and messages to back-office teams, Mave fits seamlessly into existing workflows, allowing agents to interact with the AI assistant through text messages just like they would with a real assistant. and complete tasks.
The daily results and use cases shared by agents testing the platform are exceeding Mave’s expectations. For example, one agent participating in the beta program was able to quickly respond to customer questions and price properties instantly, which helped him secure a property within 24 hours. Another agent who used Mave to optimize their listings went from 0 to 11 showings in one week. Another agent used Mave to create the concept, script, posts, and captions for an Instagram campaign that sold for $100,000 over asking price.
Initial Mave Beta customers include PSR Brokerage, a luxury boutique real estate firm with more than 150 agents across southern Ontario, including Toronto, Muskoka, Forest Hill, Vaughan and Port Credit. The brokerage specializes in resale and pre-construction sales and is supported by high-end marketing services for its clients. Within the first week of signing up to participate in the Mave beta program, 60% of agents used the AI assistant at least six times a week.
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“The way the real estate industry operates hasn’t changed all that much in recent years. To modernize their brokerages, many companies are turning to existing tools for help. Considering the fact that you’re on the go, using them can be overwhelming, but Mave actually solves a core problem facing the industry in a way that’s easy for any agent to implement. Raz’s vision is to harness the power of AI to enable any brokerage firm to streamline backend operations and support agents using something as simple as text. We believe in Raz and his team and are confident that this is the right approach for the residential real estate industry, with a significant number of brokers using Mave. It will be an operating system.”
-Alex Baker, Managing Partner, Relay Ventures
“Our initial focus will be on handling marketing tasks, but now that funding is in place we are expanding development to establish Mave as a full-time assistant. We handle critical backend administrative tasks better and faster than ever before, leading to closing, so your agents can focus on what matters most: serving your customers and growing your brand. ”
-Raz Zohar, Mave Founder and CEO
“Mave gives agents a competitive advantage by giving agents the precise support they need to be more responsive to their clients. We expect you to stay on top of your information, and with Mave, we’ve finally found the perfect solution to help your team easily meet this demand. Get critical information at your fingertips. This increases productivity, improves customer service, and helps you get listings more often.”
-Joshua Chisvin, VP of Resale, PSR Brokerage Partner
