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CONFIDENTIAL — AVORO INC.
Prepared for Andrew Shafran & Sawyer Smith · Corcoran Sawyer Smith
Two forces hit multi-office brokerages at the same time — and both land hardest on operators who rent their technology from someone else.
National consolidators are acquiring the companies that brokerages license their brand and technology from. When your franchisor changes hands, your tech stack changes hands with it — unless you own a stack of your own.
For the first time, personalized coaching, lead response, recruiting outreach, and operational support can run on autonomous AI instead of headcount. The brokerages that adopt this first operate at a structurally lower cost per agent.
Brokerages compete on brand and splits. SaaS tools sell seats. Neither solves the operating problem: recruiting leverage, training infrastructure, capital access, and real-time intelligence — independent of brokerage affiliation.
Whatever you decide at renewal — stay, leave, or negotiate — your operating infrastructure should be an asset you control. That's the premise Avoro is built on.
Avoro installs institutional infrastructure — recruiting leverage, training, consumer commerce, capital access, and Avoro Intelligence (autonomous AI that does real work) — into high-performing teams and brokerages without requiring anyone to change brokerage affiliation.
| Avoro is | Avoro is not |
|---|---|
| A brokerage-agnostic infrastructure platform | A brokerage or franchise |
| An economic partnership bound by shared upside | A SaaS vendor charging seat licenses |
| An AI-native operating system for teams and brokerages | A CRM or transaction management tool |
| A consumer commerce and capital facilitation layer | A lender or balance-sheet risk taker |
| A platform built for institutional exit | A lifestyle business or consulting firm |
The complete operating playbook proven at a 200+ agent, #1-ranked operation — sales, marketing, transaction coordination, recruiting, training, pipeline and performance tracking — installed as working systems, not binders, and benchmarked against anonymized data from every participant.
Every closing resets a household's local life — restaurants, dentists, home services, kids' activities. Avoro's merchant network monetizes that moment, and participants receive a defined share of the commerce revenue their transactions generate.
Commission advances, expansion financing, and recruiting bridge capital — facilitated through capital partners and underwritten with real-time platform data. Capital becomes a utility, not a crisis response.
Embedded intelligence in every dashboard, plus autonomous AI that does real work: lead response in seconds, pipeline monitoring, marketing production, commission calculation, recruiting outreach. The pillar that compounds with every participant.
Participants join for the operating systems. They stay for the economics. Every participant that joins makes the platform smarter for every other participant.
At 400+ agents across multiple offices, you win or lose on recruiting and retention. Avoro turns your infrastructure into the recruiting pitch.
"Join us and get an AI operating system: leads answered in seconds, a daily briefing, training calibrated to your stage, and capital when you need it." Avoro Intelligence runs the top of your recruiting funnel and scores candidates on production and fit.
When an agent's pipeline, training history, commerce revenue, and capital relationships live in your platform, leaving costs them real money. Retention stops depending on goodwill.
Speed-to-lead measured in seconds, a watchdog on every transaction, and coaching driven by real benchmarks — across all 400+ agents at once, without adding staff.
Performance benchmarking is anonymized and aggregated — your operation's data stays sandboxed to you. You see how you compare; no one sees you.
An illustrative model — drag the inputs to match your operation. Assumptions are conservative and listed below.
Illustrative model, not a quote. Software replacement assumes Avoro displaces ~60% of a typical CRM / transaction / recruiting / training stack. FTE loaded cost $58K. Commerce share uses a modeled $100 per buy side; the actual participant split is set by real merchant economics once established. Platform fees are scoped in the working sessions.
avoro.app composes each person's home fresh on every load — agent, ops, and leadership see different views from the same engine. Three actions on everything: Approve, Edit, Skip.
High-intent buyer, $650k range, came in through your paid lead channel. Drafted response ready to send.
Parsed: seller, $720k, NJ attorney-state. On the TC's desk once you confirm.
5 deals flagged · 3 intakes waiting on a TC step
Rivera (Jersey City), Chen (Hoboken), Okafor (Montclair). Combined pipeline at risk: $2.1M.
2 from the cross-platform network, 2 from outreach sequences. Discovery calls drafted.
PRODUCT DESIGN — KEYSTONE PHASE 1 SURFACES (AVORO.APP). COPY AND LAYOUT FROM THE LIVE DESIGN SPEC.
Where the build is today: the avoro.app spine — one identity, one home — is in active build. Pipeline Watchdog runs live inside Avoro's anchor customer, and marketing orchestration and commission intelligence are in build there now. Founding Partners come on while it's being built — and shape it.
Responds to inbound leads within seconds, qualifies against your criteria, routes hot leads to the right agent. Runs 24/7. Never misses a lead.
Serves up high-intent leads that are waiting on a response from the agent — before they go cold. No more lead acquisition spend wasted on a dropped follow-up. Flags stalled deals and at-risk closings too.
Listing graphics, just-sold packages, open-house collateral, and agent-milestone pieces produced in seconds — brand-governed, compliance-checked on every release. One intake instead of six channels and a design queue.
Intake parsed from a text message, milestones tracked automatically, the TC's desk fed only what actually needs a human. Your coordinators run more files, better.
Calculates every possible commission scenario — splits, caps, teams, referrals, bonuses — compliance-clean and current, without a spreadsheet wizard on payroll.
One onboarding that reshapes itself to the person. Agent, staff, or leader plugs straight into the platform and gets their own experience — training, goals, KPIs, accounts provisioned automatically. No more onboarding segregation.
Identifies targets, drafts personalized outreach, manages follow-up sequences, books discovery calls for your recruiters.
Everyone opens to one screen showing only what needs them — nothing else. Marketers get a marketing Action Center; agents, leaders, TCs, and brokerage compliance each get their own. If it's on your screen, it matters.
Founding Partners shape the platform — including custom intelligence built around your workflows, your comp plans, your market. Your operating quirks become product, not workarounds.
Underneath all of it: dashboards that predict — which agents are trending toward a breakout month, which show early disengagement, where the pipeline is about to thin out.
Avoro is brokerage-agnostic by design. It works under any brand, any franchisor, any affiliation — and it travels with you if that affiliation ever changes.
Operators at Compass, eXp, Anywhere, KW, Real, Side, and independents all run on Avoro without conflict. The platform binds through economics and intelligence, not brand.
If your operating system, agent experience, recruiting engine, and commerce revenue are yours, a franchise renewal becomes a brand decision — not a technology constraint.
Every operation runs in a sandboxed data environment. Raw financials, client data, and agent identities never leave your scope — enforced in the architecture, not a policy PDF.
Anonymized behavioral patterns — conversion benchmarks, recruiting timing signals, margin indicators — flow upward while raw data stays sandboxed. The 50th operation joins with its intelligence pre-calibrated on everything learned from the 49 before it.
| Phase | Operations on platform | Intelligence advantage |
|---|---|---|
| Phase 1 | 15–20 | Baseline — founding partner patterns and early adopter data |
| Phase 2 | 30–55 | 2x+ the recruiting and margin signal data; statistically significant benchmarks by region, size, brokerage |
| Phase 3 | 100+ | Industry-defining dataset — no acquirer or competitor can replicate it from scratch |
The same dynamic that makes Zillow's listing data, Toast's restaurant data, and Veeva's pharma CRM data so defensible. A competitor's standalone AI starts from zero every time.
15+ years operating at senior levels of residential real estate — multi-billion-dollar regional operations, a top-five expansion network across 12 U.S. markets and 200+ associates, and the cross-market team-expansion model that influenced operating frameworks at multiple top-ten brokerages.
Founder of Align Team — the #1 globally-ranked real estate team at eXp Realty for units. Align is Avoro's flagship Phase 1 customer: the platform is validated inside a real, top-ranked operation from day one.
20+ years scaling real estate teams and brokerages; prior PropTech C-level executive and startup CRO; co-founder of Play Bigger Coaching and The Results Group at Real Broker.
15-year operating leader — co-founded and scaled The Schiff Home Team (~$2B in sales) and Manifest ($1B+ in coached production volume). Helped build the operating model behind Avoro's anchor customer.
Avoro isn't adding AI to old software. The platform is built AI-native from the first line of code, on the same frontier infrastructure the leading AI companies ship on.
Avoro is pre-launch and in active build — deliberately. Before we sell it to anyone, we're bringing 15–20 of the best operators in the country in as Founding Partners — to help us build and launch it: shape the product, contribute their operating playbook, lend their voice at launch. In exchange: an ownership stake.
A common-stock warrant — the right to buy a percentage of Avoro at today's low strike price, exercisable at exit. Costs nothing to hold. Tier A partners (your scale): 0.75%–1.0% of Avoro. Paid alongside co-founders and investors when Avoro is acquired or goes public. 5-year window, full acceleration on change of control, standard weighted-average anti-dilution.
No cash. The warrant vests on four milestones — designed for operators who lean in, not a time clock.
| Milestone | Vests |
|---|---|
| Sign on — agree to be listed publicly as a Founding Partner and quoted at launch | 25% |
| Feedback cycle — 4–6 working sessions over the first 6 months shaping the platform | 25% |
| Convert — sign as a paying customer when the platform is product-ready | 25% |
| Refer — make five introductions that become paying customers | 25% |
No clawbacks once a milestone is hit. None of the four requires anything outside your normal operating activity.
Avoro is targeting an exit in the $135M–$300M+ range within the warrant window. Gross outcomes by allocation:
| Tier A allocation | $135M exit | $180M exit (baseline) | $300M exit (upside) |
|---|---|---|---|
| 0.75% | ≈ $1.0M | ≈ $1.35M | ≈ $2.25M |
| 1.00% | ≈ $1.35M | ≈ $1.8M | ≈ $3.0M |
You pay nothing to receive or hold the warrant. The small strike price at exit is typically netted out of proceeds (cashless exercise).
If Avoro doesn't reach an exit, the warrant expires and you owe nothing. Upside participation, not a guarantee — and never an out-of-pocket cost.
Warrants exercised and held under QSBS (§1202) can be excluded from federal capital gains up to $10M. Your CPA runs the numbers; we provide the technical appendix.
The round funds engineering, B2B partnership hires, the RESPA-compliant commerce structure, and scaled go-to-market. It is entirely separate from the Founding Partner Program — partnership costs you nothing, and nothing here is required of a partner.
Avoro is built for institutional exit: a four-pillar platform with diversified, recurring, high-margin revenue and a proprietary operational dataset. The full investor memorandum and exit valuation framework are available on request.
Engineering and platform build · B2B partnerships and merchant network hires · RESPA-compliant settlement structure · go-to-market.
Full memorandum, exit framework, and round terms shared under separate cover. Direct with Seth — not part of today's founding partner decision.
We send the NDA, then the full program terms — your Tier A allocation, the milestone schedule, and the warrant agreement — for you, your counsel, and your CPA to review.
Execute the Founding Partner agreement and join the roster of named operators attached to the platform.
Signing completes Milestone 1 — your first 25% vests. Take your founding seat in the feedback cycle that shapes what Avoro builds for multi-office brokerages.
We're not asking you to trust that we built something great. We're asking you to build it with us — and own a piece of it from the beginning.
Request the NDA & program terms