The hidden work of a real estate agent
Many believe a real estate agent's job is simple: find a client, show a few houses, close a deal, and collect a commission. In reality, agents invest over 35 hours on administrative tasks for each transaction, even with brokerage support and, for top agents, dedicated assistants and marketing teams.
An underserved market
Despite 2 million agents and 350,000 brokerages in North America, few major software companies serve the industry effectively. Most solutions poorly address pain points and lack an understanding of how the industry operates. A common misconception is that agents don’t invest in support, yet they spend an average of $2,000 annually on software, plus 10-30% of their budget on marketing and administrative support, representing a $5B+ opportunity in North America.
A founder with a fresh perspective and new technology.
Mave's founder, Raz Zohar, previously helped scale Thriver and Simpli Home Furniture, earning a reputation for swiftly executing on customer needs. After experiencing firsthand the inefficiencies of residential real estate when purchasing his first home, Raz took the unconventional step of working as an executive assistant to agents across Toronto to deeply understand their pain points. His experience and the rapid improvements in AI led Raz to believe he could build an AI assistant to help brokerages and agents.
Raz assembled a world class team to pursue the opportunity including:
- Brandon Mowat, Head of Engineering, and Alex Hughson, Staff Engineer, 2 of the top managers from Ada whom have deep expertise in building AI solutions that streamline support.
- Jessica Lawton Bonello, Head of Operations, has been a realtor for 15 years and was an early employee at Properly who built their client and agent experience programs.
The team launched, Mave earlier this year to help agents with marketing and back-end tasks. It has already attracted interest from 6,000+ real estate agents and 90 brokerages. To ensure they over deliver, Mave has selected 1,000 agents to partake in a beta program.
N49P x Mave
We are excited to co-lead the $2m pre-seed round In Mave with Relay Ventures and excited to have Alate Partners, Clarim Ventures and Gambit Partners also participate int he round. If you are interested in changing the way residential real estate work, Mave is hiring engineering, product, marketing and sales roles. You can learn more about these roles and Mave on their website.
