SERHANT. launches AI-powered brokerage in Chicago as AI sparks debate on home sales

SERHANT. has entered the Chicago real estate market with an AI-focused brokerage, even as agents across the country face a tougher challenge: setting home prices that attract buyers without sacrificing sellers’ returns. According to a press release, the company launched SERHANT. Illinois on Tuesday, Oct. 6, bringing more than 40 agents and more than $600 million in trailing 12-month sales volume into the Chicago metro and North Shore markets.

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A new AI model for Chicago real estate agents

Founded by Ryan Serhant—whom the announcement confirmed is a star and executive producer of Netflix's hit series “Owning Manhattan”—the firm says its proprietary platform, S.MPLE, gives agents AI tools for lead generation, marketing and transaction management. The company recently introduced S.MPLE 2.0 and describes its brokerage as AI-native, rather than a traditional firm that later added artificial intelligence.

SERHANT. Illinois follows the company’s launches in Massachusetts, Texas, California and Colorado, the press release said. SERHANT. confirmed it now operates in 20 markets, has nearly 2,500 agents and averages $1 billion in sales every 18 days in 2026. The Chicago launch includes four founding agents, with more hires expected. The core team includes Managing Director Dina Lissner and the following Illinois founding agents: Melissa Siegal, Jennifer Mills-Klatt, Bobby Grilli, and Brendan Murphy.

“Real estate in Chicago has run the same way for a long time. Agents here are ready for something built for how buyers and sellers actually live today, and through S.MPLE, we're giving them the AI, technology and reach to lead that change,” Ryan Serhant, the company’s founder and CEO, said in the company announcement.

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AI cannot replace pricing judgment

The timing reflects a broader shift in home pricing. According to the Chicago Business Journal, a HomeLight survey found that 80% of agents viewed accurate pricing from the start as the most important factor in selling a home, while 64% said online information and AI caused owners to misunderstand their property’s value.

“AI is influencing all of this, but it’s not necessarily solving the problem,” Todd Rhodes, HomeLight’s vice president of sales, said, per the Chicago Business Journal. “Every home is unique and different, and ChatGPT can never truly identify that.”

Agents said 47% of buyers who tour a home without making an offer may be reacting to an asking price that is too high, the report confirmed. When showings are scarce, 58% recommend cutting the price first. Eighty-three percent added that they would make a change within four weeks.

The pressure comes as sellers offer more incentives. According to the Chicago Business Journal, Redfin data showed concessions in 44.7% of U.S. home sales in August, up from 42.6% a year earlier and the highest August level since at least 2020. The median sale price reached $407,730 in July, while the average mortgage rate rose to 6.54%.

Higher insurance costs are also disrupting transactions, with 47% of agents surveyed by Redfin reporting more insurance-related problems than the previous year. For sellers and their agents, the central calculation remains both price and speed: “No matter the price, if it doesn’t close, it frankly doesn’t matter,” Rhodes said, per the report.