Using technology to change real estate

Nick Giambra has been selling real estate in Western New York for over 11 years, even leading his own team at Keller Williams. But he sees a big problem in this highly decentralized industry: not enough support and automation to allow agents to do their back-office work and interact with clients, while still having a life and a family.

So the son of former Erie County Executive Joel Giambra left with a few friends — Simon Mahfoud, a former software developer at the London Stock Exchange who worked in Buffalo, and Matt Brigante, a former designer of software for Oracle and Amazon, which helped create Alexa – to change that.

Today, the trio of Buffalo natives are backing a new online tech startup called Offerwell, which seeks to make it easier for agents to run a small business and meet the needs of buyers and sellers.

The platform uses artificial intelligence and automation to help agents promote their listings, collect and present offers to sellers, conduct market research for buyers, and share their work with clients.

“There aren’t really any tools or automation to help agents do their job, so they can turn it off and become a father, husband, spouse or whatever,” he said.

“What we seek to do as a software company is create tools, automations and experiences that enable agents to perform the mundane and administrative work they need to succeed so they can close more transactions or be the people they want to be outside of work,” he said.

The system allows agents to manage and share listings and offers, while allowing sellers to directly access details of the showings and offers they have received, including dollar amount, concessions, amount financing, contingencies and other information.

The goal is to provide more transparency to clients so they can see real-time activity and have a more complete understanding of all their options, especially before meeting with their agent to review final offers and make a decision .

And that means buyer agents can also see offers, giving them the opportunity to resubmit them with better terms, if they choose.

The trio spent the last three years building the new company and “got really serious about 18 months ago,” Giambra said. Mahfoud, Offerwell’s CEO, joined full-time three months ago, followed by Giambra, who manages sales for the company. Giambra stepped away from any active involvement in buying and selling homes, while his Giambra team left Keller Williams to join a small agency, Heritage Property Source.

The third partner, Brigante, will join the team full-time once the team completes its venture capital fundraising, which is expected to kick off in the coming months. The company raised nearly $1 million in a “pre-seed” round from local angel investors, including former ACV Auctions co-founder Dan Magnuszewski, and participated in the Cultivator program of the University at Buffalo.

So far, about 800 real estate agents in Western New York use the platform, but the trio is working on signing partnership deals with several listing services and brokerages in New York, in Florida and Arizona.

“We were able to create a product that truly meets agents where they are today and helps them build meaningful relationships,” Giambra said. “It’s not about what we want. It’s about what they want.”

Welcome to Buffalo Next. This newsletter from The Buffalo News will bring you the latest on developments in Buffalo Niagara’s economy – from real estate to health care to startups. Learn more at BuffaloNext.com.

Canisius University’s former Demerly Hall is now home to the Buffalo Federation of Neighborhood Centers.

The nonprofit social services agency completed renovation of the former academic building at 2365 Main St. into its new administration building, giving it a prime, central location along the Main Street corridor of Buffalo. The 50,000-square-foot building will also house the agency’s community service programs.

Built in 1921 with 3.24 acres, the building was previously owned by Great Lakes Motor Corp. and to Streng Oldsmobile until Canisius purchased it in 1999 for $585,000.

The college spent $3 million on a renovation, including a complete interior demolition and restoration of exterior facades. The existing ornamental terrazzo showroom floors were also retained and reused.

BFNC purchased the 103-year-old, one-story building in December 2022 for $2.15 million. Previously, the organization rented space in the Tri-Main Center.

“The opening of BFNC’s new administration building represents a step in a new era of service for the 130-year-old agency,” said CEO Chandra Redfern. “We are living our purpose of reinventing service to the community.”

With multiple locations throughout Erie and Niagara Counties, BFNC provides housing and support services for people suffering from mental illness and substance abuse, as well as affordable housing, financial education, tax assistance, food pantry and youth programs. Its headquarters remain at the Neighborhood House in the Fruit Belt at 97 Lemon St.

The Buffalo Planning Board on Monday supported special use permits for:

• Ashley Scott will open a rental event space at 289 Austin St., for community gatherings, cultural celebrations, parties, workshops or other meetings, with a maximum capacity of 100 people seated at rectangular and circular tables.
• Monshe Rafiqual for a community center and religious assembly for the Rohingya community, utilizing an existing two-family home at 327 Paderewski St.
• Daniel Thompson for a neighborhood food market at 387 Glenwood, in a former convenience store at Glenwood and Brooklyn Street that was owned by his sponsor but has been closed for more than a decade.
• Kenneth L. Houston Jr. for outdoor dining at his nephew’s BBQ restaurant at 1125 Tonawanda St.

SUNY-Buffalo State is remove programs and offer buyouts to cover its budget deficit.

The hopes of a Williamsville Grocery Co-op are on the ropes.

A cluster of housing near the former Médaille University campus is up for sale.

FeedMore WNY is get cheap electricity for its new headquarters.

A Falconer manufacturer has new owners.

A large affordable housing project is under construction for Dunkirk.

Unemployment rate in Buffalo Niagara remains relatively weak.

Evans Bank is looking for customers in the legal cannabis sector.

The Anciennes Editions bookstore project encounter an obstacle.

A healthcare project on the East Side is move forward.

Downtown revitalization projects in Lancaster, Dunkirk and Wellsville receive state funding.

A Buffalo-based employee benefits company made an acquisition.

THE reduction in the pool of available workers affects job growth in the Buffalo Niagara region.

Niacet will invest 50 million dollars at its Niagara Falls plant.

Candidates from Niagara and Chautauqua counties have sued to invalidate more than 450 conditional adult-use retail dispensary licenses.

Bliss Construction proposed a new mixed-use project near Main-Transit.

Citing “economic” reasons, Tesla laid off 27 more employees at the South Buffalo plant.

D’Youville suspended construction of his new medical school building amid funding problems.

Erie County is seeking a developer for a light industrial project at Renaissance Commerce Park in Lackawanna.

Five reads from Buffalo Next:

1. Michael Montante looks back on four years as CEO of Uniland.

2. A federal agency could halt construction of a wastewater pipeline in STAMP site in Genesee County. How does this affect two companies preparing to open facilities there?

3. After years of relative inactivity, the more rural areas of northern Amherst are experiencing a surge of new development projects.

4. Efforts to get more women and minority contractors working on the Buffalo Bills stadium project could pay dividends on other major construction work to come.

5. The the state’s oldest investment club is in Lockport.

The Buffalo Next team gives you insight into the region’s economic revitalization. Email tips to [email protected] or contact Buffalo Next editor David Robinson at 716-849-4435.

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