co-founder ribbon Hope to bring artificial intelligence into home trading.
Shaival Shah and Wei Gan launched a new startup this week called indigowhich uses artificial intelligence to run an advanced search portal. The Indigo transaction platform automates and streamlines communications, bidding processes and negotiations for buying and selling a home.
The founders hope the platform will provide transparency into a market upended by antitrust lawsuit settlements. national association of realtors (NAR) and prime brokerage firms. Indigo believes it is meeting the demand for real estate agents under the new settlement enforcement rules.
“To bring new industry models to market, information, real-time intelligence and decision-making capabilities must improve to promote the transparency the market deserves,” Shah said in a statement. “Reimagining new experience and workflow infrastructure Requires strong technical strength.”
Other entrepreneurs with experience in the housing sector are also involved. Paul Kim, who previously served as chief architect at Ribbon, will be responsible for the AI component of the Indigo platform. Frances Bryant was a former head of real estate at Ribbon and held a similar position at Indigo.
The Indigo platform looks a lot like a search portal, but allows buyers to bid on listings provided by agents, with artificial intelligence incorporating seller preferences. The platform will collect and verify buyers’ offers, a process the company calls “Home Checkout.”
The company said buyer’s agents can use its contract artificial intelligence tools to generate compliant quotes and contracts in seconds from any digital device. Much of the paperwork associated with transactions will be automated.
Indigo is initially launching in Charlotte, with plans to enter additional markets in the near future. Leading agencies and teams from compass, Keller Williams, experience value, weight/maximum and other brokerages are initial users.
“With the rapid development of the real estate industry, the need for accurate and timely market data has become critical,” Kourosh Sharifi, Chief Financial Officer RE/MAX Executive Officer in Charlotte, said in a statement.
“Agents and clients now rely on data-driven insights to navigate the complexities of transactions and make informed decisions. Indigo provides a cutting-edge platform that leverages artificial intelligence to deliver these important insights, positioning itself as an industry game-changer .
