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Imagine an online platform that walks you through every step of the homebuying and selling process, a dashboard where all the resources and services needed to close a real estate transaction are at your fingertips.
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Nationstar Mortgage Holdings promised it would introduce such a service shortly after acquiring real estate software software firm Real Estate Digital in May 2014.
A little over a year later, the publicly traded company, valued at $1.9 billion, delivered on that promise: It launched Xome, joining a handful of companies aiming to provide an end-to-end homebuying and selling experience online.
Xome lets buyers search more than 80 percent of MLS-listed properties across the country, connect with an agent, acquire a loan from Nationstar Mortgage Holdings’ mortgage lending division and get title services from Nationstar’s title services wing.
A screenshot from Xome’s site.
Agents in Xome’s referral network agree to charge buyers no more than a 2 percent commission, compared with the going rate of between 2.5 and 3 percent. Licensed as a brokerage, Xome has no agents of its own.
Agents pay Xome a flat referral fee for deals they get through the platform, which vary based on home price.
Xome’s concierge network is the engine that makes the 360-degree real estate transaction hum. Fifty full-time employees in Xome’s Seattle office will do nothing but help consumers and agents bring deals to fruition.Xome’s concierge network: the engine that powers the 360-degree real estate transaction
The concierge network is part of the reason why agents may be willing to partner with Xome and charge a below-market commission: The network funnels “curated deals” to agents, not leads, said Xome CEO Kal Raman.