The Argentine entrepreneur who seeks to revolutionize the US real estate market with artificial intelligence.

[Sunny]

Just saw this:

Quién es el emprendedor argentino que con inteligencia artificial busca revolucionar el mercado inmobiliario de EEUU

Matías Recchia y su startup Keyway aplican un enfoque que combina tecnología de punta y análisis de datos. Ya recibieron inversiones por USD 40 millones e hicieron negocios por cerca de USD 300 millones

www.infobae.com

 

[Billy Goat]

All this AI stuff with Chat GPT 4.0 is pretty incredible. The only thing that is negative is it will most likely put a lot of Argentine workers out of business in the next 10 years. Same as other countries as many jobs won't be needed after that. Lots of call centers here I'm told will all go extinct.

 

[Betsy Ross]

This is true. Look at some of the examples last week of what it can do and it is exciting and scary at the same time. Many people will lose their jobs or become obsolete.

 

[Vince]

Some of the things you can do will blow your mind.

Best GPT-4 Examples that Blow Your Mind for ChatGPT – Kanaries

GPT-4 is the latest AI technology making waves. Discover the incredible things it can do through real-world examples and how it's changing the game for developers and everyday users alike.

docs.kanaries.net

 

[Sunny]

😂 Looks like you guys did not read the article. It really has nothing to do with ChatGPT. Mea culpa, I should've checked that it was in English. Here's the Google-translated version:

Who is the Argentine entrepreneur who, with artificial intelligence, seeks to revolutionize the US real estate market?​

Matías Recchia and his startup Keyway apply an approach that combines cutting-edge technology and data analysis. They have already received investments for USD 40 million and did business for close to USD 300 million​

May 19, 2024 00:55 am AR

The world of real estate is witnessing a true revolution. At the center of this transformation is technology and especially Artificial Intelligence, which impact the sector with the same force and expectations of change as in other segments of the economy.

Argentine entrepreneur Matías Recchia is one of the founders of Keyway, a real estate investment management platform powered by artificial intelligence that was born in the United States. He is also one of the leaders of proptech, real estate businesses crossed by technology, in that country. So much so that Business Insider magazine included his venture among the most promising firms in the sector and The Financial Technology Report included it in the “Top 25 Real Estate Technology Companies .”

The company was born in 2020 in New York and although it is in the startup stage, it has already raised $40 million in venture capital funds, with renowned investors such as Camber Creek, Canvas Ventures, Thomvest and Montage Ventures, among others. In addition, it generated business for USD 300 million, in 2024 it plans to add another USD 200 million and in a couple of years it promises to export the model to Latin America.

In a talk with Infobae during a visit to Buenos Aires, Recchia shared details about how Keyway integrates advanced technologies to transform the real estate sector. “We use AI to replicate the human factor of someone who knows a neighborhood in a certain city very well. To know in detail what is happening with average rents, how many cafes are opening, how the average spending of residents and pedestrian traffic is evolving, how many trees there are per block, etc. Quantitative data analysis through AI allows us to find unexpected correlations that give us a very good idea of the areas that have the most potential,” explained the entrepreneur. This approach not only allows large volumes of information to be analyzed in real time, but also facilitates the creation of more effective and personalized investment portfolios.

“We work with family offices , individual investors and hedge funds, to help them put together investments in real estate, in the US in particular. For example, in the medical or multifamily building sector. Our team is made up of professionals who come from Google and Microsoft and others who are Goldman Sachs and Blackstone specialists, on the side of more traditional real estate investments. We join the two legs,” she highlighted.

The platform chooses the best transactions, crossing millions of data, many of them public. Keyway not only relies on artificial intelligence to analyze real estate market data; It also uses machine learning algorithms to predict trends and optimize its clients' investments. This proactive approach allows you to act quickly in a market that is constantly evolving.

Before venturing into the proptech world, Recchia had already made his mark in the tech industry as co-founder and CEO of IguanaFix, the regional technology platform for temporary staff, such as plumbers and electricians. His professional career also includes leadership roles at Vostu, the largest social gaming company in Latin America, and experiences at renowned companies such as McKinsey and P&G. Additionally, he has an MBA from Harvard Business School, where he worked with notable figures such as Eric Schmidt , former CEO of Google.

—How is the real estate market in the US?

— It depends a lot on each city. In New York, in the One Vanderbilt area, in downtown Manhattan, there is a lot of demand. The Hudson Yards area is very busy, but the class B buildings on Third Avenue are almost empty. The common office is going to die completely, accountants and customer service are going to work from home. If some have to go to work, they want to do it in nice places. The industrial sector is very strong, with a lot of weight in distribution to urban centers that allow delivery in 24 hours. In residential housing there are many opportunities. Rates are high and volumes have dropped while waiting for prices to adjust. In addition, there is a lot of movement towards the south of the country. There is talk of Florida, but states like Tennessee, Georgia and, obviously, Texas also grew a lot. A lot of manufacturing work is moving from Chicago and Detroit to Dallas, Houston, Nashville, because costs of living are lower, so are taxes, there are better properties, less harsh unions and center-right governments. There are opportunities, too: at a certain price range, San Francisco is a good option, but with some risk.

—What motivated you to create Keyway after your experience at IguanaFix?

— While working at IguanaFix I closely followed everything related to property maintenance and management. I started making some personal investments in real estate in the United States and I was frustrated by how difficult it was to find good opportunities due to the interests of the brokers. I saw that technology and data were a solution to make better investment decisions in the sector.

—How do you face competition in the US market?

— There are many competitors in general, but few with good technology. It's like new, digital banks versus traditional ones. The big players, like Blackstone, have their IT people, but they are more concerned about security than innovating. We are the Mercado Pago of real estate investment market, always innovating and improving the user experience.
------------------------------------------------------------------------------------------------------------------------------------------------

Would love to hear what @earlyretirement thinks about this.

​

 

[Digital Nomad]

😂 Looks like you guys did not read the article. It really has nothing to do with ChatGPT. Mea culpa, I should've checked that it was in English. Here's the Google-translated version:

Who is the Argentine entrepreneur who, with artificial intelligence, seeks to revolutionize the US real estate market?​

Matías Recchia and his startup Keyway apply an approach that combines cutting-edge technology and data analysis. They have already received investments for USD 40 million and did business for close to USD 300 million​

May 19, 2024 00:55 am AR

The world of real estate is witnessing a true revolution. At the center of this transformation is technology and especially Artificial Intelligence, which impact the sector with the same force and expectations of change as in other segments of the economy.

Argentine entrepreneur Matías Recchia is one of the founders of Keyway, a real estate investment management platform powered by artificial intelligence that was born in the United States. He is also one of the leaders of proptech, real estate businesses crossed by technology, in that country. So much so that Business Insider magazine included his venture among the most promising firms in the sector and The Financial Technology Report included it in the “Top 25 Real Estate Technology Companies .”

The company was born in 2020 in New York and although it is in the startup stage, it has already raised $40 million in venture capital funds, with renowned investors such as Camber Creek, Canvas Ventures, Thomvest and Montage Ventures, among others. In addition, it generated business for USD 300 million, in 2024 it plans to add another USD 200 million and in a couple of years it promises to export the model to Latin America.

In a talk with Infobae during a visit to Buenos Aires, Recchia shared details about how Keyway integrates advanced technologies to transform the real estate sector. “We use AI to replicate the human factor of someone who knows a neighborhood in a certain city very well. To know in detail what is happening with average rents, how many cafes are opening, how the average spending of residents and pedestrian traffic is evolving, how many trees there are per block, etc. Quantitative data analysis through AI allows us to find unexpected correlations that give us a very good idea of the areas that have the most potential,” explained the entrepreneur. This approach not only allows large volumes of information to be analyzed in real time, but also facilitates the creation of more effective and personalized investment portfolios.

“We work with family offices , individual investors and hedge funds, to help them put together investments in real estate, in the US in particular. For example, in the medical or multifamily building sector. Our team is made up of professionals who come from Google and Microsoft and others who are Goldman Sachs and Blackstone specialists, on the side of more traditional real estate investments. We join the two legs,” she highlighted.

The platform chooses the best transactions, crossing millions of data, many of them public. Keyway not only relies on artificial intelligence to analyze real estate market data; It also uses machine learning algorithms to predict trends and optimize its clients' investments. This proactive approach allows you to act quickly in a market that is constantly evolving.

Before venturing into the proptech world, Recchia had already made his mark in the tech industry as co-founder and CEO of IguanaFix, the regional technology platform for temporary staff, such as plumbers and electricians. His professional career also includes leadership roles at Vostu, the largest social gaming company in Latin America, and experiences at renowned companies such as McKinsey and P&G. Additionally, he has an MBA from Harvard Business School, where he worked with notable figures such as Eric Schmidt , former CEO of Google.

—How is the real estate market in the US?

— It depends a lot on each city. In New York, in the One Vanderbilt area, in downtown Manhattan, there is a lot of demand. The Hudson Yards area is very busy, but the class B buildings on Third Avenue are almost empty. The common office is going to die completely, accountants and customer service are going to work from home. If some have to go to work, they want to do it in nice places. The industrial sector is very strong, with a lot of weight in distribution to urban centers that allow delivery in 24 hours. In residential housing there are many opportunities. Rates are high and volumes have dropped while waiting for prices to adjust. In addition, there is a lot of movement towards the south of the country. There is talk of Florida, but states like Tennessee, Georgia and, obviously, Texas also grew a lot. A lot of manufacturing work is moving from Chicago and Detroit to Dallas, Houston, Nashville, because costs of living are lower, so are taxes, there are better properties, less harsh unions and center-right governments. There are opportunities, too: at a certain price range, San Francisco is a good option, but with some risk.

—What motivated you to create Keyway after your experience at IguanaFix?

— While working at IguanaFix I closely followed everything related to property maintenance and management. I started making some personal investments in real estate in the United States and I was frustrated by how difficult it was to find good opportunities due to the interests of the brokers. I saw that technology and data were a solution to make better investment decisions in the sector.

—How do you face competition in the US market?

— There are many competitors in general, but few with good technology. It's like new, digital banks versus traditional ones. The big players, like Blackstone, have their IT people, but they are more concerned about security than innovating. We are the Mercado Pago of real estate investment market, always innovating and improving the user experience.
------------------------------------------------------------------------------------------------------------------------------------------------

Would love to hear what @earlyretirement thinks about this.

​

In a way I think what people are referring to ChatGPT 4.0 is the AI features. This article does reference Artificial Intelligence and they will use AI in every single field in the future including real estate. ChatGPT 4.0 is the latest version of OpenAI's AI and it is very powerful. I can't think of one field that won't utilize AI.

 

[Betsy Ross]

😂 Looks like you guys did not read the article. It really has nothing to do with ChatGPT. Mea culpa, I should've checked that it was in English. Here's the Google-translated version:

Who is the Argentine entrepreneur who, with artificial intelligence, seeks to revolutionize the US real estate market?​

Matías Recchia and his startup Keyway apply an approach that combines cutting-edge technology and data analysis. They have already received investments for USD 40 million and did business for close to USD 300 million​

May 19, 2024 00:55 am AR

The world of real estate is witnessing a true revolution. At the center of this transformation is technology and especially Artificial Intelligence, which impact the sector with the same force and expectations of change as in other segments of the economy.

Argentine entrepreneur Matías Recchia is one of the founders of Keyway, a real estate investment management platform powered by artificial intelligence that was born in the United States. He is also one of the leaders of proptech, real estate businesses crossed by technology, in that country. So much so that Business Insider magazine included his venture among the most promising firms in the sector and The Financial Technology Report included it in the “Top 25 Real Estate Technology Companies .”

The company was born in 2020 in New York and although it is in the startup stage, it has already raised $40 million in venture capital funds, with renowned investors such as Camber Creek, Canvas Ventures, Thomvest and Montage Ventures, among others. In addition, it generated business for USD 300 million, in 2024 it plans to add another USD 200 million and in a couple of years it promises to export the model to Latin America.

In a talk with Infobae during a visit to Buenos Aires, Recchia shared details about how Keyway integrates advanced technologies to transform the real estate sector. “We use AI to replicate the human factor of someone who knows a neighborhood in a certain city very well. To know in detail what is happening with average rents, how many cafes are opening, how the average spending of residents and pedestrian traffic is evolving, how many trees there are per block, etc. Quantitative data analysis through AI allows us to find unexpected correlations that give us a very good idea of the areas that have the most potential,” explained the entrepreneur. This approach not only allows large volumes of information to be analyzed in real time, but also facilitates the creation of more effective and personalized investment portfolios.

“We work with family offices , individual investors and hedge funds, to help them put together investments in real estate, in the US in particular. For example, in the medical or multifamily building sector. Our team is made up of professionals who come from Google and Microsoft and others who are Goldman Sachs and Blackstone specialists, on the side of more traditional real estate investments. We join the two legs,” she highlighted.

The platform chooses the best transactions, crossing millions of data, many of them public. Keyway not only relies on artificial intelligence to analyze real estate market data; It also uses machine learning algorithms to predict trends and optimize its clients' investments. This proactive approach allows you to act quickly in a market that is constantly evolving.

Before venturing into the proptech world, Recchia had already made his mark in the tech industry as co-founder and CEO of IguanaFix, the regional technology platform for temporary staff, such as plumbers and electricians. His professional career also includes leadership roles at Vostu, the largest social gaming company in Latin America, and experiences at renowned companies such as McKinsey and P&G. Additionally, he has an MBA from Harvard Business School, where he worked with notable figures such as Eric Schmidt , former CEO of Google.

—How is the real estate market in the US?

— It depends a lot on each city. In New York, in the One Vanderbilt area, in downtown Manhattan, there is a lot of demand. The Hudson Yards area is very busy, but the class B buildings on Third Avenue are almost empty. The common office is going to die completely, accountants and customer service are going to work from home. If some have to go to work, they want to do it in nice places. The industrial sector is very strong, with a lot of weight in distribution to urban centers that allow delivery in 24 hours. In residential housing there are many opportunities. Rates are high and volumes have dropped while waiting for prices to adjust. In addition, there is a lot of movement towards the south of the country. There is talk of Florida, but states like Tennessee, Georgia and, obviously, Texas also grew a lot. A lot of manufacturing work is moving from Chicago and Detroit to Dallas, Houston, Nashville, because costs of living are lower, so are taxes, there are better properties, less harsh unions and center-right governments. There are opportunities, too: at a certain price range, San Francisco is a good option, but with some risk.

—What motivated you to create Keyway after your experience at IguanaFix?

— While working at IguanaFix I closely followed everything related to property maintenance and management. I started making some personal investments in real estate in the United States and I was frustrated by how difficult it was to find good opportunities due to the interests of the brokers. I saw that technology and data were a solution to make better investment decisions in the sector.

—How do you face competition in the US market?

— There are many competitors in general, but few with good technology. It's like new, digital banks versus traditional ones. The big players, like Blackstone, have their IT people, but they are more concerned about security than innovating. We are the Mercado Pago of real estate investment market, always innovating and improving the user experience.
------------------------------------------------------------------------------------------------------------------------------------------------

Would love to hear what @earlyretirement thinks about this.

​

I did read the article. It speaks to the possibilities of Artificial Intelligence. Realtors around the USA and probably many countries will become obsolete heading into the future. Or at least fees will go down. There was a major ruling and it sounds like commissions will be coming down. OpenAI's software will change the world.

 

[Uncle Wong]

Forget the USA. This Argentine guy should fix Argentina market. The realtors and data here are horrible! I was looking last year to buy in BA and all the websites are horrible. Realtors are mostly lazy. I was amazed how broken the system is here in Argentina.

 

[Swowbird]

Everything is going to be about technology and data in the real estate sector. Doesn't matter which country you work in. Here in South America many times it is also connections finding good opportunities. At least here in Brazil like that. Some opportunities never hit the market and it's all friends and family in various new developments.

 

[Johnny]

Everything is going to be about technology and data in the real estate sector. Doesn't matter which country you work in. Here in South America many times it is also connections finding good opportunities. At least here in Brazil like that. Some opportunities never hit the market and it's all friends and family in various new developments.

I agree about the connection aspect of what you mentioned. I have invested in several real estate projects lately. I bought a few properties in Mexico and now 2 in Argentina and connections is key. In 2 of the properties it wasn't listed anywhere and I got in on a friends and family investment.

Here in the United States things are going to probably change a lot with realtors. Everyone just uses technology and realtors don't do too much now.

 

[earlyretirement]

😂 Looks like you guys did not read the article. It really has nothing to do with ChatGPT. Mea culpa, I should've checked that it was in English. Here's the Google-translated version:

Who is the Argentine entrepreneur who, with artificial intelligence, seeks to revolutionize the US real estate market?​

Matías Recchia and his startup Keyway apply an approach that combines cutting-edge technology and data analysis. They have already received investments for USD 40 million and did business for close to USD 300 million​

May 19, 2024 00:55 am AR

The world of real estate is witnessing a true revolution. At the center of this transformation is technology and especially Artificial Intelligence, which impact the sector with the same force and expectations of change as in other segments of the economy.

Argentine entrepreneur Matías Recchia is one of the founders of Keyway, a real estate investment management platform powered by artificial intelligence that was born in the United States. He is also one of the leaders of proptech, real estate businesses crossed by technology, in that country. So much so that Business Insider magazine included his venture among the most promising firms in the sector and The Financial Technology Report included it in the “Top 25 Real Estate Technology Companies .”

The company was born in 2020 in New York and although it is in the startup stage, it has already raised $40 million in venture capital funds, with renowned investors such as Camber Creek, Canvas Ventures, Thomvest and Montage Ventures, among others. In addition, it generated business for USD 300 million, in 2024 it plans to add another USD 200 million and in a couple of years it promises to export the model to Latin America.

In a talk with Infobae during a visit to Buenos Aires, Recchia shared details about how Keyway integrates advanced technologies to transform the real estate sector. “We use AI to replicate the human factor of someone who knows a neighborhood in a certain city very well. To know in detail what is happening with average rents, how many cafes are opening, how the average spending of residents and pedestrian traffic is evolving, how many trees there are per block, etc. Quantitative data analysis through AI allows us to find unexpected correlations that give us a very good idea of the areas that have the most potential,” explained the entrepreneur. This approach not only allows large volumes of information to be analyzed in real time, but also facilitates the creation of more effective and personalized investment portfolios.

“We work with family offices , individual investors and hedge funds, to help them put together investments in real estate, in the US in particular. For example, in the medical or multifamily building sector. Our team is made up of professionals who come from Google and Microsoft and others who are Goldman Sachs and Blackstone specialists, on the side of more traditional real estate investments. We join the two legs,” she highlighted.

The platform chooses the best transactions, crossing millions of data, many of them public. Keyway not only relies on artificial intelligence to analyze real estate market data; It also uses machine learning algorithms to predict trends and optimize its clients' investments. This proactive approach allows you to act quickly in a market that is constantly evolving.

Before venturing into the proptech world, Recchia had already made his mark in the tech industry as co-founder and CEO of IguanaFix, the regional technology platform for temporary staff, such as plumbers and electricians. His professional career also includes leadership roles at Vostu, the largest social gaming company in Latin America, and experiences at renowned companies such as McKinsey and P&G. Additionally, he has an MBA from Harvard Business School, where he worked with notable figures such as Eric Schmidt , former CEO of Google.

—How is the real estate market in the US?

— It depends a lot on each city. In New York, in the One Vanderbilt area, in downtown Manhattan, there is a lot of demand. The Hudson Yards area is very busy, but the class B buildings on Third Avenue are almost empty. The common office is going to die completely, accountants and customer service are going to work from home. If some have to go to work, they want to do it in nice places. The industrial sector is very strong, with a lot of weight in distribution to urban centers that allow delivery in 24 hours. In residential housing there are many opportunities. Rates are high and volumes have dropped while waiting for prices to adjust. In addition, there is a lot of movement towards the south of the country. There is talk of Florida, but states like Tennessee, Georgia and, obviously, Texas also grew a lot. A lot of manufacturing work is moving from Chicago and Detroit to Dallas, Houston, Nashville, because costs of living are lower, so are taxes, there are better properties, less harsh unions and center-right governments. There are opportunities, too: at a certain price range, San Francisco is a good option, but with some risk.

—What motivated you to create Keyway after your experience at IguanaFix?

— While working at IguanaFix I closely followed everything related to property maintenance and management. I started making some personal investments in real estate in the United States and I was frustrated by how difficult it was to find good opportunities due to the interests of the brokers. I saw that technology and data were a solution to make better investment decisions in the sector.

—How do you face competition in the US market?

— There are many competitors in general, but few with good technology. It's like new, digital banks versus traditional ones. The big players, like Blackstone, have their IT people, but they are more concerned about security than innovating. We are the Mercado Pago of real estate investment market, always innovating and improving the user experience.
------------------------------------------------------------------------------------------------------------------------------------------------

Would love to hear what @earlyretirement thinks about this.

​

I haven't heard of this specific company but there are a ton of prop-tech companies out there right now. I have maintained that the real estate industry in the USA will be totally transformed over the next few years. You can see the recent changes with NAR (which is like a mafia) and you're seeing a lot of realtor hate. Commissions are too high and technology does all the work. I have a lot of experience in this as I did a real estate start-up several years ago and it was acquired by Rocket Homes.

I think in 10 years it will be totally different across much of the world. It will be less of a manual/human process and AI and all the big data will do much of the work. Realtors in Buenos Aires are really bad for the most part. I think there will be a huge transformation in Latin America as well. Websites are very bad compared to websites in the USA. And commissions are way too high.

You will probably always have to have some human interaction in real estate transactions but my guess is the vast majority of realtors around the world won't be needed in the future.

 

[earlyretirement]

And look and you can see that Milei is trying to turn Argentina into an AI technological hub. He already met with Peter Thiel in his office in Buenos Aires and now he is meeting with Mark Zuckerberg, Apple, Open AI and Google. He is planning something big!

Argentina’s Milei Plans to Meet With Zuckerberg at End of May

(Bloomberg) -- Argentine President Javier Milei is planning to meet with Meta Platforms Inc. CEO Mark Zuckerberg and other leaders of tech giants in Silicon Valley at the end of May, people with direct knowledge said.Most Read from BloombergIran State TV Says ‘No Sign of Life’ at Helicopter...

ca.news.yahoo.com

 

[Sunny]

And look and you can see that Milei is trying to turn Argentina into an AI technological hub. He already met with Peter Thiel in his office in Buenos Aires and now he is meeting with Mark Zuckerberg, Apple, Open AI and Google. He is planning something big!

Argentina’s Milei Plans to Meet With Zuckerberg at End of May

(Bloomberg) -- Argentine President Javier Milei is planning to meet with Meta Platforms Inc. CEO Mark Zuckerberg and other leaders of tech giants in Silicon Valley at the end of May, people with direct knowledge said.Most Read from BloombergIran State TV Says ‘No Sign of Life’ at Helicopter...

ca.news.yahoo.com

🤞🏻🤞🏻🤞🏻🤞🏻🤞🏻🤞🏻🤞🏻

 

[Finance Prof]

I read that Argentina keeps getting more companies mining bitcoin here too. I guess with Argentina's vast oil and gas and low utility rates it would be a dream for companies that use a lot of energy. AI takes quite a bit of energy to run on.

 

[Blockchain]

It's funny because I read articles like this that say Argentina has abundant cheap electricity and then yesterday I read of power outages and planned outages this summer as they don't have enough capacity.

Milei dreams of making Argentina the world's new AI powerhouse

President Milei dreams of turning Argentina into a "world power" for Artificial Intelligence, but he is starting at the bottom – the nation has one of the lowest rates of AI use on the continent.

www.batimes.com.ar

 

[StatusNomadicus]

Some opportunities never hit the market and it's all friends and family in various new developments.

this is a very stupid way to limit yourself to 0.000000001% of worldwide buyers, when selling something. easy enough to make a real estate listing on any of the websites; people are just lazy, and not to offend, not very intelligent or motivated to actually sell. why would i try to sell a 5000 USD used car to a few dozen of my friends/family when i can put it on AutoTrader or similar, and open myself up to thousands of car-shoppers?

commissions are way too high.

just for a data point now that i'm established in Mendoza province, realtors try to say 3% is normal, but i was able to talk down a medium-sized company to signing with then for 2% (on the Buyer side). what i DON'T know is if it's possible to opt-out of having a Realtor/company completely; one of my Notary/escribania people said that i'd just end up paying 3% to the Seller/Owner's agent anyway, if i don't hire my own. but i still need to look-up the laws. i'm sure the Realtor union has some sort of lobbying monopoly scam going on

regarding the real estate websites, even big companies like ReMax have no accountability and make mistakes like listing a PH as a house, wrong m2 size, etc. - such a joke. if it wasn't 2.5 years and a license to be a Corredor i would consider doing 1% deals and being the 5% of english-speaking realtors who actually answer WhatsApp messages and have basic standards

 

[JonJLA]

this is a very stupid way to limit yourself to 0.000000001% of worldwide buyers, when selling something. easy enough to make a real estate listing on any of the websites; people are just lazy, and not to offend, not very intelligent or motivated to actually sell. why would i try to sell a 5000 USD used car to a few dozen of my friends/family when i can put it on AutoTrader or similar, and open myself up to thousands of car-shoppers?


just for a data point now that i'm established in Mendoza province, realtors try to say 3% is normal, but i was able to talk down a medium-sized company to signing with then for 2% (on the Buyer side). what i DON'T know is if it's possible to opt-out of having a Realtor/company completely; one of my Notary/escribania people said that i'd just end up paying 3% to the Seller/Owner's agent anyway, if i don't hire my own. but i still need to look-up the laws. i'm sure the Realtor union has some sort of lobbying monopoly scam going on

regarding the real estate websites, even big companies like ReMax have no accountability and make mistakes like listing a PH as a house, wrong m2 size, etc. - such a joke. if it wasn't 2.5 years and a license to be a Corredor i would consider doing 1% deals and being the 5% of english-speaking realtors who actually answer WhatsApp messages and have basic standards

Great about being able to negotiate down but most likely it's because you're probably just dealing with the seller's realtor that is making commissions on both ends. You are almost always paying a realtor when you buy. Maybe dealing with the seller's agent they might lower but they have no incentive to get you the lowest price.

Realtors are for the most part horrible in Argentina. I wasn't impressed at all.

 

[Avocado]

this is a very stupid way to limit yourself to 0.000000001% of worldwide buyers, when selling something. easy enough to make a real estate listing on any of the websites; people are just lazy, and not to offend, not very intelligent or motivated to actually sell. why would i try to sell a 5000 USD used car to a few dozen of my friends/family when i can put it on AutoTrader or similar, and open myself up to thousands of car-shoppers?


just for a data point now that i'm established in Mendoza province, realtors try to say 3% is normal, but i was able to talk down a medium-sized company to signing with then for 2% (on the Buyer side). what i DON'T know is if it's possible to opt-out of having a Realtor/company completely; one of my Notary/escribania people said that i'd just end up paying 3% to the Seller/Owner's agent anyway, if i don't hire my own. but i still need to look-up the laws. i'm sure the Realtor union has some sort of lobbying monopoly scam going on

regarding the real estate websites, even big companies like ReMax have no accountability and make mistakes like listing a PH as a house, wrong m2 size, etc. - such a joke. if it wasn't 2.5 years and a license to be a Corredor i would consider doing 1% deals and being the 5% of english-speaking realtors who actually answer WhatsApp messages and have basic standards

Realtors outside of CABA usaully charge lower than CABA. Not easy to avoid commissions. My sister bought some land on Solo Duenos but not many properties there.

Soloduenos

Soloduenos - Todos los Dueños en una misma dirección.

www.soloduenos.com

 

[StatusNomadicus]

Great about being able to negotiate down but most likely it's because you're probably just dealing with the seller's realtor that is making commissions on both ends

i negotiated commission from "standard" 3% to 2.4% to 2% total with my realtor that i found (and tested many times, they passed when 95% quit and are lazy/stupid), about 2500 USD. i agree that you CAN get a deal with using the same Seller's realtor, but i never found that to be the case. the ones i dealt with just said they would charge me 3% also, and didn't try to win my business, so i moved on to my own that was cheaper. joke's on them - they could offer 1% for me and they'd make more money and have an easier deal.

i negotiated the price of my Escribania down to 3000 USD and i think you could get it for 2% total of the USD sales price (but my Notary has earned their pay, i promise you. i'm not an easy customer)

Maybe dealing with the seller's agent they might lower but they have no incentive to get you the lowest price.

my own Buyer's realtor is cheaper, 2% like i said, but it would be living in fantasy-land to think someone paid in commission based on the sales price has any incentive to get me a lower price. the 5% of honest realtors might do this, but overall i have talked to dozens and they are all the same, lazy, lying, "the price looks right to me" type. when SELLING i think you can relax a bit, but when on the Buyer side, you should treat your own realtor as a parasite until proven otherwise. they obviously want you to pay the highest you're able to.

I wasn't impressed at all.

they're 95% scumbags in the USA as well. and Title Companies. gross. i despised every moment of selling my USA house. but once you find an honest one (that you set-up to lie to you and you play dumb about some things), you keep them and keep paying them!

Realtors outside of CABA usaully charge lower than CABA. Not easy to avoid commissions. My sister bought some land on Solo Duenos but not many properties there.

3% is standard in Mendoza. is it more than 3% in CABA?

i'm not sure you're able to avoid commissions/honorarios at all. this was my question: do you HAVE to pay a percentage for a realtor, in a real-estate deal in Argentina? in the USA it isn't required, if you use a Contract (usually written by a lawyer) and a good Title Company, but it is still 5% of the operations.

for a normal sale where the Seller hired a realtor, my Notary told me that i'd have to pay their commission as well (3% on each side), regardless. i'm not sure how a Owner-to-Buyer sale would look, or if it's even possible in Argentina. i'll cross that bridge if i find an opportunity. Realtors are such a waste of money for people who have already bought/sold once

 

[JonJLA]

they're 95% scumbags in the USA as well. and Title Companies. gross. i despised every moment of selling my USA house. but once you find an honest one (that you set-up to lie to you and you play dumb about some things), you keep them and keep paying them!

Great you found a place you like. I would disagree with 95% being scumbag realtors in the USA. At least in the USA they do more work and provide more comparables. There are too many realtors in the US but the ones I have worked with have been hardworking. At least in BA it is a different world.

i'm not sure you're able to avoid commissions/honorarios at all. this was my question: do you HAVE to pay a percentage for a realtor, in a real-estate deal in Argentina? in the USA it isn't required, if you use a Contract (usually written by a lawyer) and a good Title Company, but it is still 5% of the operations.

for a normal sale where the Seller hired a realtor, my Notary told me that i'd have to pay their commission as well (3% on each side), regardless. i'm not sure how a Owner-to-Buyer sale would look, or if it's even possible in Argentina. i'll cross that bridge if i find an opportunity. Realtors are such a waste of money for people who have already bought/sold once

Many in Buenos Aires are 4%. When I bought my place I paid 4%. I tried to negotiate lower but they refused. Just about every property is listed with a realtor. I looked at about 9 different apartments before I chose the one I wanted and each one had a 4% realtor fee but as I understand it my realtor only got half of that. The listing agent gets half of that and they charge the seller a commission too.

I don't think you have to have a realtor if you don't want. I heard of people that bought it directly with the seller but I don't think it's common.