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Real Estate Comeback Brings New Business Models

Online and hybrid companies aim to upend traditional brokerage business.

(Boonton, NJ, August 4, 2015) — Say you’re buying a home in California or Texas, but you’re not keen on your buyer’s representative making a 3 percent fee.

Would you be willing to pay 1.5 percent to an agent thousands of miles away?

That’s the question Owners.com will answer as it remakes its business model. The company in late June announced a shift away from its roots as a for-sale-by-owner site into a discount brokerage that interacts more closely with the traditional real estate industry.

Owners.com isn’t the only company trying to upend the traditional brokerage business.

Xome of Seattle launched this summer with an online offering that promises consumers a technology-driven buying and selling process. Xome’s approach differs in that it will connect clients with local agents.

Both companies are banking on a new breed of tech-savvy consumers who are willing to take on a more active role in managing their real estate transactions.

More on Xome, Owners.com and other new entries into the field appear in the August issue of Real Estate Broker’s Insider newsletter.

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