In the face of the National Association of Realtors’ new ban on pocket listings, OfferAI’s tool connects real estate agents to a network of investors who purchase off-market properties.

OfferAI, a Texas-based real estate technology company, has launched a platform it describes as “Craigslist for pocket listings” that, it claims, complies with a ban on such listings passed by the National Association of Realtors.

OfferAI was first launched as a bot that makes offers on homes, but pivoted in the wake of the National Association of Realtors’ Clear Cooperation Policy. The free platform allows agents to present themselves as an iBuyer to potential sellers, through a network of private investors who purchase off-market homes.

Jack Burns | Photo credit: LinkedIn

“OfferAI’s research has shown that a significant number of agents have investor contacts who are hungry for off-market deals,” OfferAI CEO Jack Burns said in a statement. “Those agents can invite their cash buyers onto the platform, which will ensure that inviting agent is the buyer’s agent for any acquisitions the investor makes in the platform.”

In November, NAR’s executive committee passed the Clear Cooperation Policy, a rule that requires listing brokers to submit a listing to the multiple listing service within one day of marketing a property to the public.

Members of the association were split on the ruling, with some praising it and others lambasting the decision. At a high level, Compass threatened legal action while other brokerage CEOs, such as Redfin CEO Glenn Kelman, supported the ruling.

A spokesperson for NAR didn’t immediately respond to a request for comment on whether OfferAI’s platform complies with the Clear Cooperation Policy.

JP & Associates Realtors is the first brokerage to adopt the platform, with approximately 500 agents currently signed up to use it, according to OfferAI.

The product is free for agents, and OfferAI executives said in a statement that it generates revenue through a number of premium services including personalized lead generation websites, customized videos and by allowing companies to pay to brand the OfferAI platform to their brokerage.

Email Patrick Kearns

Are you ready for what the industry holds in 2020? Inman Connect New York is your key to unlocking opportunity in a changing market. At Connect you will gain insight into the future, discover new strategies and network with real estate’s best and brightest to accelerate your business. Create your 2020 success story at Inman Connect New York, January 28-31, 2019.

Agenda | Speakers | Past Connect Videos

Thinking of bringing your team? There are special onsite perks and discounts when you buy tickets together. Contact us to find out more.

Show Comments Hide Comments
Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Thank you for subscribing to Morning Headlines.
Back to top
Only 3 days left to register for Inman Connect Las Vegas before prices go up! Don't miss the premier event for real estate pros.Register Now ×
Limited Time Offer: Get 1 year of Inman Select for $199SUBSCRIBE×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription