California-based brokerage Avenue 8 has announced it is closing down its brokerage operations, choosing instead to focus on real estate tech. The company announced via press release that focus will shift to scaling Sidekick, its artificial intelligence-based brokerage productivity solution.
The bottom line from the C suite: Avenue 8 is not going away.
Sidekick pulls MLS data to generate market reports and use listing images to generate property descriptions. The AI-powered tech is available for as little as $25 per month for individual users.
The company noted that Sidekick has already been selected for use by the San Francisco Association of Realtors.
“Focusing on Sidekick allows us to seize this unique moment of change to better serve our industry,” said Avenue 8 co-founder Justin Fichelson in the press release. “We started Avenue 8 convinced of a better way to support agents and brokerages, and we’ve developed an innovative technology that does exactly that. We are, of course, sensitive to the impact this strategic shift will have on our employees and agents, and we are committed to supporting them through this period and as they pursue new opportunities. We’re grateful for their commitment and dedication to the company’s success over the past five years.”