About Xome.com

With more than 80% of all MLS listings available (120+ million properties), including for sale, rent, or auction, Xome.com is an online portal that claims to make the real estate process more transparent and less complex for consumers and real estate professionals alike.

How? According to Xome, they accomplish this by allowing each party to maintain complete transparency throughout, from financing to insurance, so that everyone knows what’s going on. In fact, Xome.com claims they’ve come up with “a radically better way to buy and sell a home” by “creating a bridge between the offline and online worlds.” In addition, Xome also claims to help buyers and sellers save money on real estate commissions, which we’ll discuss shortly.

But is this really what you can expect by using Xome to purchase your next home or sell your existing one? We’ll answer all your important questions in a moment, but let’s first take a look at the company’s processes.

The Xome Home Buying, Selling, & Auction Process

If buying a home, the Xome.com process works over 3 steps:

  1. Search for homes, select your property, and get a fast-track pre-qualification using a pre-selected lender.
  2. Select your top-rated Xome agent, who will be available 24/7, and who will act as your single point of contact. Buying a home through Xome.com also gives you access to Xome Concierge, which we’ll come back to in the following section.
  3. Make an offer, obtain your mortgage, sign paperwork, and close (including appraisals, inspections, and so forth) on your new home. Most documents are sent through email and signed using e-signature technology, although some paperwork will need to be completed by a notary service.

If selling a home, the process works over 3 (somewhat simpler) steps:

  1. Claim your home on Xome, which involves entering your address on the Xome home page and signing into your account. This allows you to “track important changes to the value of your home and market conditions in your neighborhood.”
  2. Choose your Xome.com agent, who will be responsible for making “sure your home is properly marketed, listed in the MLS, and who will work hard to try and maximize the sales price.”
  3. Review and accept offers, sign documents, and close on your home. Then, you can begin the process again if you’re looking to purchase a new property.

Real estate auctions are handled through HomeSearch.com (in fact, Xome.com appears to be a sub-company of HomeSearch.com, as we’ll discuss in a moment), where you can search for “real estate owned, short sale, pre-foreclosure/foreclosure, and luxury properties for auction.” Again, the auction process works over 3 steps:

  1. Locate a property you’re interested in and contact the listing agent directly.
  2. Bid for the property in real time.
  3. If your bid wins the auction, you’ll be contacted by a representative to begin the closing process, and Xome can help walk you through the paperwork.

Xome.com’s Savings Program

Xome.com’s Savings Program allows buyers and sellers to receive 1% off their total transaction cost by using one of their agents, which is part of the company’s savings program.

This means that if you were to buy a $400K home, you could save $4K in commissions. And if you were to use Xome again to purchase a new $400K property, you could potentially save another $4K, which quickly adds up.

However, according to Xome’s Disclosure page, “The Xome Savings program (Minimum 1% cash back) is not available in the following states due to applicable state law: AK, IA, KS, LA, MS, MO, OK, OR and TN.” As such, if you live in one of these states, you’re out of luck.

Xome Concierge Program

If you’re buying a home, Xome’s Concierge service, is claimed to provide you with all the resources you need, including 24/7 access to your agent via chat, email or phone.

As an agent, Xome.com Concierge also works as a virtual assistant to help you focus on your business, in addition to providing you with “qualified homebuyer and sellers who are ready to go.”

In either instance, the company claims that their Concierge service can help you “get dynamic ratings, real-time data, and revolutionary tools to manage your buying or selling process.”

What Happens if Your Home Listing Isn’t On Xome?

After learning that only about 80% of MLS listings are featured on Xome, we wondered if a buyer found a listing that wasn’t shown on the website, would their Xome agent be able to help them?

There wasn’t any additional information provided online, so we contacted Xome’s Concierge customer service to find out. According to them, all you would need to do is inform the company and they would put the address on the agent’s panel. At the point, your Xome.com agent would then be able to represent you in the transaction.

Are Customers Happy with Xome.com?

At the time of our research, there were very few online customer reviews for Xome. However, we did come across a recent Reddit thread, where one user summed everything up nicely:

From what I can gather, it seems like the big difference is that all Xome agents are similar to Redfin's partner agents instead of one of Redfin's salaried agents.

Redfin's idea is that by offloading the marketing, planning, etc. to tech and other parts of the company, deal writing agents can be more efficient. This allows the company to play with slimmer margins and more volume (and hopefully equal or greater service). This business model doesn't really work for lower priced markets because there is a certain fixed cost per house associated with it - that's why the 200k limit exists. Instead, at those price points, they do a referral program to third party agents that pay some sort of referral fee.

From what I can tell, Xome is entirely based off referral fees. It appears that the idea is that the technology platform of Xome should be a great enough advantage for RE agents that they would be willing to give up 1% commission and a referral fee. They also seem to make money off of mortgage and title/escrow, perhaps through referrals or even through subsidiary companies.

In some sense, Xome actually feels like a Zillow that charges per sale rather than per click.

Some of the company names listed on the Xome.com website include Xome Inc. and Xome CT LLC, both of which are based out of Lewisville, TX, although neither were listed with the Better Business Bureau.

According to a June 2015 HousingWire.com article, however, “Xome is formerly known as Solutionstar and is an indirect wholly owned subsidiary of Nationstar Mortgage Holdings.” At the time of our research, Nationstar Mortgage held an F rating with the Better Business Bureau, based on a whopping 3,100+ complaints (as of 6/18/15).

Most of these appeared to reference everything from misapplied mortgage payments to unwanted, high-pressure phone calls.

Finally, according to 46 HighYa reader reviews for HomeSearch.com, they gave the company an average rating of 1.5 stars, with common complaints citing difficulty closing on properties after successfully winning auctions, listings that contained incorrect information (accidentally or otherwise), poor customer service experiences, and that the overall experience isn’t focused on being user friendly.

Granted, since Xome.com is a subsidiary of these companies, this doesn’t mean you’ll experience the same.

Xome.com Pricing & Fee Structure

Whether you’re a buyer, seller, or an agent, signing up for a Xome account is free, which you can accomplish by entering your Facebook credentials or signing up manually using your email address.

As a real estate agent, there are no upfront costs for joining Xome, although you will have to reduce your commission for all purchases and sales by 1%, in addition to paying a “referral fee” (amount undisclosed) to Xome for each closed transaction.

Note: According to the Xome website, you’ll be required to “bid for qualified home buyer and seller opportunities,” so this means you might have to reduce your commission even further in order to actually land a client.

If you have any questions, Xome’s customer service can be reached by phone at 844-251-0077.

Will Xome Change the Way You Buy & Sell Your Home?

Chopping to the point: Xome.com seems to represent the beginning of a big shift in how we buy and sell homes, which instead of locally, seems to be increasingly moving online. And as a result of their new business model, you might be able to save a big chunk of change on commissions during the buying and/or selling process.

With this said, it seems that Xome’s parent companies have less-than-stellar online reputations with customers, so you might want to approach carefully.

Have you used Xome? If so, be sure to tell the world about it by writing a review!

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31 Consumer Reviews for Xome.com

Average Consumer Rating: 1.6
Rating Snapshot:
5 star: 3 4 star: 1 3 star: 1 2 star: 1 1 star:  25
Bottom Line: 13% would recommend it to a friend
Showing 1-11 of 31
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  • 3 out 3 people found this review helpful

    Scam

    • New York,
    • Jun 11, 2018
    • Verified Reviewer

    I won an apartment in their auction but it aspeared to be a scam. Also, they have a rule that allows the owner to make bids. This way they control the price. Stay away from any property listed there.

    Bottom Line: No, I would not recommend this to a friend

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  • 6 out 7 people found this review helpful

    Worst company ever

    • Wilmington, DE,
    • Jun 1, 2018
    • Verified Reviewer

    I used them to try and save the commission on my house. What they offer is crazy, who is going to be a buyer and pay a 5% fee on top of the house? I thought it sounded crazy, but I tried it.

    No luck! The guy they set me up with David Edward's was terrible. Apparently, he only works business hours, LOL. Monday-Friday, 9-5. What? He's a real estate agent. Most agents work non-business hours. He wasn't very attentive to text messages at all. I had to hold my own open house; he had a planned trip, which was fine, but told me someone else would do it.

    Finally, after three days, I text him and volunteered to do it myself since I hadn't heard from him. The following week I decided to call it quits and use my friend to list my home the traditional way. I texted him on Friday, no response all weekend. I heard back from him on Tuesday around 11, only because I texted him again. That's when he started talking about business hours and got nasty with me.

    The woman who was supposed to be my go-to person who works for Xome refused to call me back, her name was Dawn. You can't actually call the place either, you have to leave a message. They should have a 24-hour customer service line since they are selling homes. David also told me I would be on an auction site, which never happened. I was never listed on there. The company sucks. Look elsewhere.

    Bottom Line: No, I would not recommend this to a friend

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  • 1 out 3 people found this review helpful

    Great experience!

    • Newman Lake, WA,
    • May 21, 2018
    • Verified Reviewer

    Xome helped us buy and sell a home. They provided excellent customer service and saved us money on both selling and buying. We did run into some problems at the beginning of the buying process, but Xome stepped up to the plate and solved our issues immediately. I would definitely recommend their services.

    Bottom Line: Yes, I would recommend this to a friend

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  • 10 out 10 people found this review helpful

    Highly unprofessional

    A house I had an interest in was placed for sale on the Xome.com platform. My realtor signed up but was required to also enter the buyer's info.

    She submitted a pre-bid but was informed it was rejected. But when the bidding started my pre-bid was shown as the highest bid. This I found very strange.

    Then almost immediately I began receiving marketing materials to bid on other properties. This I found to be extremely unprofessional and unethical. Why were they trying to sell me other properties without contacting my agent? Why were they even contacting me directly?

    All of this suggests to me this company plays hard, fast and very loose with the real estate norms we expect in a transaction. After reading the low success rate here, I doubt I will participate in any further auctions.

    Bottom Line: No, I would not recommend this to a friend

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  • 10 out 10 people found this review helpful

    Absolutely horrible experience

    One of, if not the worst, company I have ever had the displeasure of working with. Thankfully I have 35 years of real estate experience, and the realtor I used was able to navigate and tolerate their incompetence. It cost me $10,000.00 in legal fees and almost a year of time to make this deal become a reality. Buyers beware!

    Bottom Line: No, I would not recommend this to a friend

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  • 11 out 11 people found this review helpful

    My house is not my own?

    Yesterday a man came to my house because he saw my car in the driveway. He asked if my house was in foreclosure. I said no and asked him why. He told me that it was up for auction on Xome.com. I was amazed, as my house was paid in full when I purchased it in October of last year. I looked it up, and sure enough, there was an older picture of my home. I was told by this man that there had been multiple bids made on my property and that he was so far the highest bid. Wow!

    Bottom Line: No, I would not recommend this to a friend

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  • 3 out 3 people found this review helpful

    My experience was positive

    I see a lot of bad reviews for Xome, and I don’t understand why. I bought my house off their auction, and I didn’t have any problems. It did cost me $2000 to bid, but that’s earnest money that you would pay to bid on any auction house period and to be expected.

    Xome was very prompt with our paperwork, and they were happy to assist us when we needed it. I think they did an excellent job and I’m very pleased with them. The only thing I didn’t like is that I was told it was a one time only bid, so I started with my best offer, but that was because the realtor told us that and had nothing to do with Xome whatsoever.

    I LOVE our house, we still bought it at an incredible deal, and Xome made it easy.

    Bottom Line: Yes, I would recommend this to a friend

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  • 9 out 9 people found this review helpful

    Pretentious "auction"

    • Cleveland, TX,
    • Dec 20, 2017
    • Verified Reviewer

    If you're hoping for a deal, don't look here. Prices are inflated and controlled to guarantee seller advantage.

    I won two auctions here and got no closer to either with a contract resolution. Think of it as eBay for houses. I discovered other property/house options in those areas that I checked had sold for significantly LESS than I bid here online, and my bids were rejected! But, I was given an option on both to increase my bid. Hmm?

    Either enforce a legitimate auction with buyer friendly properties or, don't sell it as an auction.

    Bottom Line: No, I would not recommend this to a friend

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  • 4 out 6 people found this review helpful

    Great company! Got my home sold!

    Great company! I was trying to sell my home for sale by owner and gave up. Too many tire kickers. Xome.com assigned me to an amazing agent who got it sold for me fast and painlessly. I would definitely use them, again. I didn't pay any fees or commissions which made it even better.

    Bottom Line: Yes, I would recommend this to a friend

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  • 15 out 16 people found this review helpful

    Very unhappy and disappointed

    • Brooklyn, NY,
    • Oct 20, 2017
    • Verified Reviewer

    I should have read reviews here before purchasing REO (real estate owned) property on their website and dealing with these guys. They don't answer their emails on time and are very unprofessional. It has been six months after we signed the contract and I still haven't closed. Constant issues, delays, excuses, etc. Just wasted lots of my time and never fixed any issues.

    Now, they better return my earnest money deposit and inspection fees otherwise I'll take them to court! Stay away from these guys!

    Bottom Line: No, I would not recommend this to a friend

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  • 18 out 19 people found this review helpful

    Bad website

    I won the same house three times, and I found out the bank was bidding at the same time. I wouldn't suggest anyone using this website. Every time you register, they hold $2500.

    This is the worst company ever.

    Bottom Line: No, I would not recommend this to a friend

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