Online real estate auction marketplace Xome is launching a DIY sales platform for investors. Platform users will not need to use a real estate agent to complete their transaction, according to an announcement from the firm on Wednesday.
Xome is an indirect, wholly owned subsidiary of Mr. Cooper Group that provides mortgage servicers with end-to-end asset marketing and disposition strategies, recapture solutions, and real estate and data services. It also enables consumers and investors to buy and sell properties online through its auction platform.
Through its DIY sales platform, investors on the Xome marketplace will have control over their property from listing through post-closing, with access to real-time bidding information and no real estate agent involvement or seller’s fees. Investors can upload properties, add photos, set reserve prices, manage bids and offers, and sign sales documents directly through the portal.
Xome users also have access to real estate professionals to help them with their transactions, if needed.
“We anticipate that the real estate landscape is going to continue to evolve rapidly, and Xome plans to be at the forefront of that change,” Mike Rawls, CEO of Xome, said in a statement. “Investors are looking for options when it comes to buying or selling a home, and they want to be more in control of the process. That’s the reason we are constantly optimizing our platform — to meet buyers and sellers not only where they are, but where they want to be.”
According to the company, investors can reach a nationwide network of more than 875,000 buyers through the platform’s multichannel marketing support.
“Xome has hundreds of sellers who have already chosen to withdraw from the traditional listing route. That’s why we want to empower investors with the flexibility they are looking for to navigate the changing market,” said Mike Jansta, chief operating officer at Xome.
“Whether our customers want to use their own trusted agent, match with one of our agents or choose the DIY option with no agent, Xome is putting investors in the driver’s seat for the whole process.”
Xome said that the DIY sales platform is part of its mission to “democratize the process of home buying and selling.” More than 115,000 properties have already been sold on Xome’s auction platform, according to its news release.
