Brokerage software firm zavvie has announced a new solution, “zavvie Power Buyer,” a white-labeled solution exclusively for leading brokerage clients. The solution began a soft launch in 2022 and is currently available to 14 zavvie partner brokerages in 11 states and the District of Columbia.
“zavvie Power Buyer” provides both “Cash Offer” and “Buy Before You Sell” Modern Bridge solutions. zavvie CEO and co-founder Lane Hornung claims these solutions are collectively helping brokerages significantly increase their mortgage capture rates.
“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,” said Christina Pappas, president of The Keyes Company. “As a bonus, adding our in-house mortgage company as the ‘go to’ for all solutions–traditional and modern–has increased our capture rate.”
Frank Gay, principal and CEO of Home Pros family of companies, 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. Helping first-time buyers be able to make an offer that is equivalent to cash is a win for everyone.”
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.
“Cash is always king and queen in real estate,” said Stefan Peterson, chief data officer and co-founder of zavvie, “and with Cash Offers, agents can help their clients win more deals, especially for first-time homebuyers.”
Peterson notes that brokerages are immediately attracted to zavvie Power Buyer as its research Cash Offers are more than four times more likely to be accepted than financed offers, and they also close faster.
Hornung notes that consumer demand for new ways to buy and sell a home will continue to increase in 2023; zavvie’s business momentum last year propelled its total number of brokerage-assisted transactions by more than 400% over their 2021 transactions, and revenue grew by more than 300% year-over-year.
“2023 will be a breakout year for Power Buying because cash offers will particularly help first-time buyers,” said Hornung.
For more information, visit https://zavvie.com/.