Dallas, Texas 05/12/2014 (FINANCIALSTRENDS) –Nationstar Mortgage Holdings Inc (NYSE:NSM), the mortgage service has now set its sights on building a real-estate marketplace that will rival the ones that Zillow, Trulia & realtor.com have. The company is spending $18 million to buy the company that might hold the key to help them achieve that goal- Real Estate Digital. Real Estate Digital, the 2011 spin-off of the Lender Processing Services Inc.’s Real-Estate Group, provides its technology services to over 500 multiple listing-services, 350 brokerages, and almost 60 different settlement-services companies and over 300,000 agents.
It specializes in data-aggregation and also has licensed 98% of all the MLS listings. This is an achievement that is probably surpassed only by the company realtor.com that licenses data from almost all of the 850 or so MLSs in the country, via its relationship with- National Association of Realtors. The NAR subsidiary Realtors Property Resource is 1 of the MLS data-aggregation clients. Nationstar also runs its online-auction platform – HomeSearch.com, which features the bank-owned properties & the short-sales. The company also has plans of using this RED acquisition to build it-up into the transactional marketplace for all the things that are related to real- estate.
Excellent search engine
This will give it a customer for-life said Jay Bray, the company’s chief executive officer in the earnings call with the investors. They believe their unique ability to bring real-estate data services & the property leads together allows them to make real-estate simple via creation of real-estate exchange that enables the consumers to search and evaluate & transact for real-estate, all in 1 location, he added. Dubbing this effort- “Home Search 2.0,” Bray stated that once the MLS data and the other data are all added to this site, he thinks they will have a search-engine that can compete with the much larger search-engines that already exist.