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How a Frustrated Real Estate Agent Built the First 5-Minute Response Machine for Listings

Discover how Midas was founded by a frustrated homeowner who saw real estate agents drowning in follow-ups. Learn how this led to the 5-minute response rul

Thomas McMurrainBy Thomas McMurrainAug 18, 20264 min read

When my wife and I sold our first home in Columbus, Ohio, we didn’t expect to become real estate entrepreneurs. We just wanted a bigger backyard for our kids. But when we saw how our agent handled, or didn’t handle, our listing, something clicked.

She was good. Experienced. Well-reviewed. But she was overwhelmed.

We’d call her at 7:30 PM with a question about the inspection. She’d answer at 9:15. We’d get a text from a buyer’s agent at 8:02. Response came at 10:12. Our open house had seven sign-ins. Only two got follow-ups.

And we lost the best offer because someone else called their agent back faster.

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That was 2017. I was running a small IT consulting business at the time. My wife, a former teacher, had just started helping me part-time. We saw the problem clearly: real estate agents weren’t lazy or bad, they were overwhelmed. They were solo operators trying to do ten things at once, and leads were slipping through the cracks.

We started with one question:

What if we could build a system that let a single agent respond like a five-person team?

Not automate in the robotic sense, no chatbots that pretend to be humans or generic drip campaigns. But something smarter. Something that knew when and how to reach out, based on who the lead was, where they came from, and what stage of the process they were in.

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We started building prototypes in early 2018. We called it “The 5-Minute Rule” internally: if a lead or past client reached out, and even if they didn’t, it should be touched within five minutes. Not necessarily with a phone call, but with something meaningful and relevant.

The first version was clunky. It worked off basic CRM data and some rudimentary AI that predicted best contact times based on email open history. We tested it with three agents in Columbus. One of them, an agent, had a team of two. After six weeks, she told us:

“I haven’t touched my phone after 6:30 PM once this month.”

She’d also added new listings.

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We weren’t a software company then. We were just solving a problem we’d lived through, and one that was costing real estate agents thousands in lost commissions and countless hours of their personal time.

By late 2019, we had a working product. But it wasn’t until the pandemic hit that everything changed.

Suddenly, every agent needed to be digital-first. Every lead expected quick responses. And every solo agent or small brokerage was scrambling to keep up with demand without hiring more people.

That’s when we realized: this wasn’t just about real estate. It was about the future of work for small business owners everywhere.

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We relaunched as Midas in 2021, not as an AI company, but as a way to give back time and scale to real estate agents who were tired of choosing between their business and their life.

Our approach has always been simple:

  • If you can’t respond like a five-person team, you’ll lose to someone who can.
  • Past clients aren’t just for referrals, they’re your cheapest source of new listings.
  • Every lead deserves more than an autoresponder and a forgotten promise.

That’s why we built the first AI-enabled platform that doesn’t just replace tools, it replaces the need for more people.

You don’t need to hire an assistant to get back your evenings.

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You don’t need to second-guess whether you missed a lead.

And you don’t need to wonder if your past clients still remember you.

Midas does it all, automatically. In under five minutes. Every time.

Because we started with a simple idea: real estate agents shouldn’t have to choose between being great at their job and having a life outside of it.

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How a Frustrated Real Estate Agent Built the First 5-Minute Response Machine for Listings · Midas