Saying "NO" to 6% Commissions

What this episode covers

A friend (you’ll hear Peter Simonson with a episode cameo) told me about Ridley, a Colorado startup that was taking on the established real-estate norm of a home seller paying 6% to real estate agents. You probably know about the landmark antitrust settlement which put an end to what was essentially a requirement as a practical matter. It’s early days since the decision, but even after the court case, it seems that home buyers and sellers will still struggle with how to do a transaction that differs very much from this norm. Mike Chambers was selling his house and couldn’t fathom paying well over $100,000 to do that, so he started a very public facing journey that became AI-powered Ridley. Now, with over $6,000,000 in venture funding, he’s getting traction.

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