Woodward Asset Capital acquires Homesource Realtors

Woodward Asset Capital has acquired Homesource Realtors with the idea of growing not as a real-estate brokerage, but as a technology firm.

The Southfield-based firm has developed a software platform called OfferSubmission that aims to sell properties faster and for maximum value. The seven-year-old company sees Homesource Realtors as the outlet for that platform.

"As the default market has changed we see an opportunity to disrupt the market with our technology," says Ron Jasgur, president of Woodward Asset Capital.

The first step was acquiring the real-estate brokerage. The second was rebranding it as SellerNation. The third, rebuilding the rebranded brokerage around the software platform that focuses on the seller experience.

Seller Nation’s OfferSubmission platform focuses on the seller side of the transaction. The idea is to bring in as many offers as quickly as possible. "It allows us to receive multiple offers and negotiate with them instead of waiting for offers to come in one at a time," Jasgur says.

Homesource made a name for itself as a discount brokerage. Jasgur is moving SellerNation away from that. "It really doesn’t fit into what we do," Jasgur says. He expects to roll out SellerNation across the country over the next 24 months.

Woodward Asset Capital currently employs 11 people. It has hired two more in customer service in the last year, and he sees more job postings in the company’s near future.

"With this acquisition we expect to hire another 6-8 in the next few months," Jasgur says.

Source: Ron Jasgur, president of Woodward Asset Capital
Writer: Jon Zemke

Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.