zavvie, a software technology company providing customized marketplaces for brokerage-wide buying and selling solutions, announces they have rolled out a new white-labeled solution for real estate brokers designed allow them to offer additional options to home sellers: “zavvie Power Buyer,” a white-labeled solution exclusively for leading brokerage clients.
Currently available to 14 zavvie partner brokerages in 11 states and the District of Columbia, the new zavvie service provides both “Cash Offer” and “Buy Before You Sell” seller options, which are collectively helping brokerages increase their mortgage capture rates, according to zavvie CEO and Co-Founder Lane Hornung.
“When brokerages use zavvie Power Buyer, they are seeing between a 10 percent and 15 percent increase in their mortgage capture business because we connect clients directly to the brokerage’s preferred lender,” said Hornung.
Hornung emphasized that zavvie’s Power Buyer program is not a match for every brokerage, fitting best with firms that offer mortgage services. “The zavvie platform continues to showcase all the other leading Power Buyers solutions, as our program is designed to be complimentary, not competitive,” Hornung added.
The zavvie Power Buyer solution is available at brokerages including The Keyes Company in Florida, Home Pros in Texas, RE/MAX Professionals in Colorado, and Berkshire Hathaway HomeServices Stouffer & Preferred in Pennsylvania, among a handful of others.
“Immediately empowering buyers with Cash Offers, or sellers with a Buy Before You Sell solution, can create more transactions and open up more inventory. As a bonus, adding our in-house mortgage company as the ‘go to’ for all solutions – traditional and modern – has increased our capture rate,” said Christina Pappas, President of The Keyes Company, an independent and family-owned brokerage in Florida.
Frank Gay, Principal and Chief Executive Officer of Home Pros Family of Companies in El Paso, Texas, notes that Power Buyer solutions are growing in popularity. “Research shows how Cash Offers have surged, with about one in three transactions being all cash,” said Gay, noting, “Helping first-time buyers be able to make an offer that is equivalent to cash is a win for everyone.”
In Colorado, Alan Smith, Broker-Owner of RE/MAX Professionals, sees zavvie’s Power Buyer solution as the key to giving agents every tool they need. “You need to offer every selling and buying solution available today because that’s what consumers are demanding,” Smith said.
Last month, zavvie announced the completion of a $3.5 million funding round led by existing investors, including Second Century Ventures, the startup incubator backed by the National Association of Realtors. Hornung said that “2023 will be a breakout year for Power Buying because Cash Offers will particularly help first-time buyers.”
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