Nationstar / HomeSearch.com Plan to Compete with Zillow / Trulia?
Apparently Nationstar has big ambitions.
Nationstar envisions that consumers and real estate agents who come to its site will be able to list their properties, manage them, sell them, buy them, and look for “downstream” mortgage, title, appraisal and closing services.
and…
Nationstar also said it expects it will eventually be able to save money by replacing third-party vendors with enhanced technology developed by RED.
Umm. Really? There have been countless people in this industry who would love for that to happen, and have planned to make a lot of money when it did.
But….it still hasn’t happened, and I don’t see how Nationstar is positioned to do it either. They bought RED. So what? What’s the unique consumer pain point they will solve that no one else has addressed? What’s their search differentiator to get consumer to use it over the existing portals?
My hunch: this will blow over, and they will keep selling software to the industry, making decent money. But “HomeSearch 2.0” will amount to nothing.
Gabe Sanders
Posted at 09:54h, 09 MayThis will be worth watching. Though, their reputation leaves something to be desired.
Drew Meyers
Posted at 11:33h, 09 Mayyup, they will certainly face licensing issues getting data onto that domain
Matt Carter
Posted at 16:50h, 09 MayIt can be done 🙂 “The home listings you find on RealEstate.com are from multiple listing services (MLSs) nationwide – the same listings services that real estate agents and brokers use.” http://www.realestate.com/
Drew Meyers
Posted at 16:51h, 09 Mayanything can be done with enough time and money
Drew Meyers
Posted at 13:14h, 10 MayGreat consumer experience, eh?
Gayle Rosenthal
Posted at 15:54h, 25 AugustNationstar is using local boards to get into local markets. Look for disciplinary actions against the agents who allow themselves to be a front for Nationstar’s questionable business practices. First, realtors are used to funnel forms to buyer agents which gut the balanced procedures of our promulgated forms. Unauthorized practice of law. Second, the cooperation that is advertised in listings is as a BA commission is then charged to the transaction when it is listed on HomeSearch.com. Look for lawsuits AND disciplinary actions against agents under DTPA. Most agents who are foolish enough to be used in this bait N switch scheme have most likely earned their commissions before the property even goes on HomeSearch. Can’t say you haven’t been warned !