Zavvie, a software company serving real estate brokerages, is expanding its Power Buying services, including Cash Offer and Buy-before-you-sell Modern Bridge, to the mortgage industry. By empowering more buyers — including first-time buyers — with the ability to pay cash for a home, Zavvie helps loan officers and real estate agents close more deals, the company said.
“The mortgage marketplace today is ripe for innovation and solutions that can help loan officers make more deals happen for their clients and real estate agent partners,” said Lane Hornung, co-founder and CEO of Zavvie.
Targeting loan officers and lenders nationwide, Zavvie now has Power Buyer partnerships with 30 mortgage lenders. Most are either a subsidiary of or a joint venture with its brokerage clients. However, Zavvie is not limiting its expansion into the mortgage business to brokerage-affiliated lenders: five of its Power Buyer partners are direct-to-mortgage companies.
Following a successful beta launch last fall and a recent raise of over $2 million in a VC mezzanine round, Zavvie’s reach in the mortgage industry now extends to nine new states, with plans to cover 14 states by the end of 2023. The program has closed over 500 transactions since the pilot program began.
