Woodward Asset Capital announced today it has acquired real estate brokerage Homesource Realtors, which will be re-branded as SellerNation. The Southfield-based business, which serves as a resource for private sellers in the real estate market, is the first of several offices nationwide that will open over the next two years.
Rodney Carey, CEO of Woodward Asset Capital, says the acquisition makes sense as the company expands into a vertically integrated family of real estate technologies and services. “We’re excited to grow a consumer brand that will change sellers’ expectations and bring transparency to a market where traditionally there has been none,” he said in a statement.
“SellerNation focuses on the seller experience (in a real estate transaction),” adds Lynne Golodner, a Woodward Asset Capital spokeswoman. “Traditionally, the buyer holds all of the power, and there can be a lot of anxiety in selling a house. This flips that — it says the seller should not have an anxiety-riddled experience.”
While specific details have yet to be released, Golodner says that each house sold during the testing phase of SellerNation has drawn prices well above the market average. She adds that SellerNation uses the same proprietary technologies and processes developed by Woodward Asset Capital for OfferSubmission.com and VerifiedShortSale.com.
“OfferSubmission has been in existence for six years and is used by banks — it’s more of a B2B technology,” Golodner says. “It helps eliminate fraud and increase the paper trail for foreclosures and short sales. There (used to be) a lot of things that got lost in translation. This technology helps banks see what offers have been made, who’s made the highest bid, and so on.”
Founded in 2007, Woodward Asset Capital’s technologies have been used to negotiate more than $22 billion in real estate offers since 2009 from more than 100,000 real estate agents in all 50 states.