Compare Xome and Jovio
For Sellers
For Buyers
For Buyers
Answer: Xome is a referral fee network that enables broker-to-broker collusion with use of blanket referral agreements while Jovio is a full-service real estate agent that offers savings to homebuyers and home sellers
Buying and Selling with Xome
WARNING: Unlawful Kickbacks, Broker-to-Broker Collusion, False Marketing, Wire Fraud, Price Fixing.
Xome) is a broker-to-broker collusion scheme, where "partner agents" unlawfully agree to pay massive kickbacks to receive your information and engage in market allocation, consumer allocation, false advertising, unlawful kickbacks, wire fraud, and price-fixing practices in violation of, inter alia, 18 U.S.C. § 1346, 18 U.S.C. § 1343, 15 U.S.C. § 1, 15 U.S.C. § 45, 12 U.S.C. § 2607, 12 C.F.R. § 1024.14. As a consumer, you will always significantly overpay for Realtor commissions subject to hidden kickbacks and pay-to-play steering promoted in this scheme.
United States federal antitrust laws prohibit consumer allocation and blanket referral agreements between real estate companies.
Be smart; do not allow your information to be "sold as a lead" to a double-dealing Realtor in exchange for massive commission kickbacks paid from your future home sale, or your future home purchase.
Xome is a referral fee network designed to collect fees by matching consumers with local real estate agents willing to participate.
Xome operates as a licensed real estate brokerage in California under BRE License #001932600, but it does not produce any services that are typically offered by real estate agents and does not represent consumers when buying or selling real estate in any State.
When consumers submit information to Xome, this information is simply sold to real estate agents who are willing to pay for it with 25%-40% share of their commission.
Xome Pricing
Xome revenue comes from referral fees and sale of user data.
Listing Services
- This Service Does Not Represent Sellers
Buyer's Agent Services
- This Service Does Not Represent Buyers
Xome Editor's Review:
Xome is a licensed real estate broker that collects a 25%-40% referral fee from all real estate agents that participate. Agents are accepted into the referral program at no upfront cost, instead, all fees are back-loaded into the agent’s commission and result in a much higher cost to consumers.
All agents in Xome Agent Network must pay Xome a referral fee for each closed deal and report on the progress with private transaction details using Xome portal. Xome itself does not create an agency relationship with consumers and has no financial obligation for the actions of Referred Agents.
Consumers work with these agents through separate written agreements. The terms of any agreement between consumers and real estate agent in the network are not endorsed or recommended by Xome.
All real estate agents using Xome pay a referral fee depending on the final cost of a house. On a $250,000 house, the agent could pay around $2,800 in fees to Xome. This amount could be easily offered as a refund or commission savings to consumers, but instead, it becomes a deterrent for real estate agents to offer competitive terms.
Xome Agent Network plays fees down to consumers, but it rigidly locks every participating real estate agent into a referral fee attached to the back-end of every contract. As a licensed real estate agent that doesn’t perform any real estate services or takes any responsibility for the transaction, it is not entirely clear how this process works under the Business and Professions Code and RESPA.
Clearly, real estate agents only sign-up with Xome because the price of the referral fee can be easily incorporated into their client’s agreement with excessive commissions.
Xome receives the second lowest score because this service is clearly biased and it claims to provide the complete opposite of what it actually does. Xome must be well aware of this issue but continues to operate on pay-to-play methodology in order to collect fees that needlessly make home buying and selling more expensive. In the end,
Xome is a referral fee network that operates a limited pool of real estate agents willing to pay 25%-40% of their commission for each lead.
Where does Xome operate?
Buying and Selling with Jovio Real Estate
Jovio is a full service real estate agent based in Austin, TX. Jovio offers consumers listing savings and buyer's refunds in select service areas across Texas.
Jovio Real Estate Pricing
Offers consumers listing savings to sellers (1% listing fee) and buyer’s savings (33% buyer’s commission rebate)
Listing Services
- MLS Listing
- Zillow, Trulia, etc. Listing
- Accept and Deliver All Offers and Counteroffers
- Hold Open Houses
- Professional Photography
- Professional Floor Plans
- Yard Signage Installation
- Spare Key Lock-box Installation
- Schedule Inspection Services
- Schedule Private Showings
- Closing Duties
Buyer's Agent Services
- Find the Property
- Accept and Deliver All Offers and Counteroffers
- Recommend Other Professionals
- Attend Inspection Services
- Schedule Private Showings
- Negotiate Needed Repairs
- Closing Duties
Jovio Editor's Review:
Jovio offers excellent representation services for buying and selling a home. Jovio is a tech-enabled brokerage with the knowledge and tools built to help consumers archive an excellent real estate transaction experience.
Jovio listing service includes posting home on the MLS and MLS Aggregator services, professional photos, and all typical services offered by a traditional real estate agent. Jovio charges a listing fee of 1% of the final sales price of your property. A minimum listing fee of $3,995 applies. If at any point during the term of the listing agreement the seller decides to terminate the said agreement, she is only responsible for paying $495 setup fee.
Jovio recommends offering a cooperating buyer agent commission that helps to attract buyers who are already working with an agent. Sellers are free to offer any amount they like to buyer’s agents, but 2.5% - 3% Buyer’s Agent Commission is recommended. Buyers can easily negotiate a rebate with their agent to reduce the costs of the Buyer’s Agent Commission amount. Eventually, all closing costs are paid by the buyer.
Jovio claims to list a home in as little as 24 hours. The majority of Jovio sellers get their home listed within several days of meeting with Jovio. To determine your home’s listing price, Jovio first gathers local information about comparable properties in your neighborhood. Jovio furthers helps to evaluate your home’s condition and any recent upgrades or improvements to come up with the best listing price for the home.
When self-represented buyers approach Jovio about the seller’s listing, Jovio reduces the 3% Buyer’s Agent Commission to 2% in favor of the seller and then splits its commission with the buyer, meaning buyers receive 1% (33% buyer’s commission rebate) back on their new home. This allows all parties to save a significant amount in buy-side commissions, but it also requires the buyer to accept the potential downside of dual representation.
For buyers, Jovio Real Estate offers on-demand home tours and an excellent client web portal for monitoring the purchase process. Jovio offers overall great value to consumers looking to buy or sell a home.