FSBO.COM Acquisition By NEXA Lending

This press release covers the FSBO.com Acquisition by NEXA Lending and FSBO Holding LLC. For almost three decades, FSBO.com has provided a platform for homeowners across the United States to sell their homes without a real estate agent. They allow homeowners to sell their homes without paying an agent’s commission. The business’s emphasis is on homeowner independence, transparency, and control in the home-selling process.

FSBO.com AcquIsition by NEXA CEO Mike Kortas: AI‑Powered Overhaul for Modern FSBO Sellers. The FSBO.com acquisition by NEXA Lending will be a great benefit for Nexa Lending loan officers, team leaders, and branch managers as well as AXEN Realty real estate agents.

FSBO.com, one of America’s longest‑standing For Sale By Owner platforms, has been acquired by an ownership group led by NEXA CEO Mike Kortas. Discover how its AI‑driven overhaul will modernize FSBO listings, empower homeowners, and create new lead opportunities for mortgage professionals.

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FSBO.com Acquisition Enters a New Era: NEXA CEO Mike Kortas Leads AI‑Driven Overhaul

FSBO.com, one of the longest‑standing “For Sale By Owner” real estate platforms in the United States, has entered a new chapter after its acquisition by a newly formed ownership group led by Mike Kortas, Founder and CEO of NEXA Lending, and strategic partners including entrepreneur Brad Rice, CEO of Homepie, Inc.

Founded nearly three decades ago, FSBO.com helped pioneer the idea that everyday homeowners could market and sell their properties independently, without the traditional full‑commission listing agent.

Under the leadership of Mike Kortas and Brad Rice, FSBO.com is poised for a renaissance. The planned AI-driven overhaul seeks to remove fear, friction, and complexity from the FSBO process while staying true to its roots of independence and empowerment. If successful, this could set a new standard for FSBO platforms and disrupt the traditional real estate market further. Today, under new leadership, the platform is preparing for a full modernization and AI‑driven overhaul designed to make selling “by owner” simpler, more transparent, and far less intimidating.

FSBO.COM Acquisition By NEXA Lending-FSBO.com: A Legacy FSBO Brand Built on Independence

Since its launch in the late 1990s, FSBO.com has been a go‑to resource for sellers who want control over their transaction, from pricing and marketing to negotiation and closing.

Historically, FSBO.com’s value proposition centered on:

Giving homeowners a low‑cost alternative to traditional listing commissions.
Providing simple online listing packages so sellers could market their homes directly to buyers.
Offering MLS‑linked options that syndicate listings to major consumer portals while still preserving the “For Sale By Owner” structure.

Over nearly 29 years, the brand has built a reputation as a trusted platform for independent sellers who want to save money while still reaching a broad audience of buyers.

What FSBO.com Offers Sellers Today

Even before the overhaul, FSBO.com gives sellers a straightforward menu of tools and services aimed at making DIY selling more accessible.

Core FSBO Listing Options

Direct FSBO.com Listing

Sellers can purchase a low‑fee package that includes a six‑month listing on FSBO.com, the ability to upload photos and property details, and online access to edit or cancel their listing.
This option is built for owners who want direct exposure to buyers without involving the local MLS.

MLS + FSBO Package

For sellers who want maximum visibility, FSBO.com offers combined packages that place the property both on FSBO.com and on the local Multiple Listing Service via a partnering flat‑fee broker.
Those MLS listings then syndicate to major real estate sites such as Zillow, Realtor.com, and other consumer portals, widening the buyer pool while still avoiding traditional full‑service listing commissions.

Supporting Tools and Forms

To support the “do‑it‑yourself” model, FSBO.com also offers:

State‑specific home‑sale contract and disclosure packages.
Standardized forms that guide sellers through common transaction steps.
Optional marketing materials such as yard signs and directional signage, typically offered as add‑ons rather than bundled in every package.

This combination of digital exposure and basic transaction support is what enabled FSBO.com to function as a turnkey entry point into FSBO selling for decades.

FSBO.COM Acquisition: New Ownership: FSBO Holdings LLC Led by Mike Kortas

The latest chapter begins with the FSBO.com acquisition by FSBO Holdings LLC, an entity led by Mike Kortas, Founder and CEO of NEXA Lending, one of the country’s largest mortgage broker platforms. He is joined by strategic partner Brad Rice, CEO of Homepie, Inc. and Amerifund Home Loans.

Under FSBO.COM Acquisition New Structure:

Mike Kortas serves as CEO of FSBO Holdings and the driving force behind the platform’s strategy and overhaul.
Brad Rice, who brings deep experience in consumer‑first real estate technology, has a leadership role in steering product and user experience.
FSBO.com remains its own platform and brand, while being positioned to integrate more tightly into the broader housing ecosystem of agents, lenders, and service providers.

Notably, Kortas has explained that the acquisition sits in a separate holding company and is not directly owned by NEXA as a corporate entity. However, NEXA Lending is expected to benefit from preferential access to consumer traffic and lead flows generated by the modernized platform.

The Vision: AI‑Driven, What FSBO.COM Acquisition Means For The Modern Homeowner

The new ownership group has made it clear that this is not a cosmetic refresh. Their stated goal is to completely modernize FSBO.com and transform it into a guided, AI‑powered experience that helps ordinary consumers handle complex real estate tasks with confidence.

Removing Fear, Friction, and Complexity

Selling a home without an agent has always carried three big pain points: fear of making a mistake, friction in the process, and complexity of paperwork and compliance. The new FSBO.com roadmap is focused on tackling each of these:

Fear: AI‑based guidance explains each step of the listing and transaction process in plain language, so sellers and buyers understand what they’re signing and why.
Friction: A structured workflow replaces the “figure it out yourself” approach, giving users checklists, smart prompts, and automated reminders tied to key milestones (listing live, offer received, inspection, appraisal, closing, etc.).
Complexity: Instead of dropping users into dense forms and legal language, the system breaks documents into simple questions and tasks, then assembles the correct state‑specific forms in the background.
The result: a platform that still empowers consumers to sell independently, but now wraps that independence in a layer of intelligent guidance and guardrails.

How the AI‑Guided Experience May Work

While full details will roll out over time, the plan suggests a highly interactive, “agentic AI” workflow.
A typical seller journey on the new FSBO.com might look like:

Onboarding and Property Intake

The homeowner answers a series of conversational questions about the property—location, features, recent improvements, and desired timeline.
AI translates those answers into a draft listing, suggests pricing ranges based on local data, and flags any state‑specific disclosures likely required.

Listing Creation

The system helps craft listing descriptions, headlines, and photo captions, highlighting features that matter in that market.
It may also provide suggestions on photo order, staging tips, or improvements that could boost perceived value.

Buyer Inquiry and Negotiation Workflow

When buyer leads come in, the platform guides both parties through structured communication.
It can propose offer templates, help the seller compare multiple offers, and walk them through counters, contingencies, and deadlines while preserving their final decision‑making authority.

Contract and Closing Support

As the deal progresses, AI prompts users to complete required forms step‑by‑step, tracks key dates (inspection, loan commitment, closing), and ensures both sides know what is due and when.
The platform can surface relevant resources—such as inspectors, title providers, and lenders—without forcing a traditional full‑service listing relationship.
In short, FSBO.com’s evolution is aimed at turning a static listing site into a dynamic transaction companion for both sellers and buyers.

Strategic Implications for NEXA and Loan Officers

For mortgage professionals—especially loan officers aligned with NEXA—the acquisition has important implications.

FSBO.com Acquisition: The Merger Creates A High‑Intent Lead Engine

FSBO sellers and their buyers represent high‑intent, real‑time demand for financing:

FSBO buyers often need pre‑approval or updated qualification as they move quickly on non‑traditional listings.
FSBO sellers may also be in the market for a purchase loan on their next property or for a refinance once they complete the sale.
By embedding lending prompts and education into the AI‑guided flow, FSBO.com can surface financing needs earlier in the process.
Kortas has suggested that once technical integration is complete, loan officers could begin receiving these consumer leads almost immediately, turning FSBO.com into a built‑in, scalable lead channel.

Training LOs to Work FSBO Leads

Because FSBO transactions differ from traditional agent‑referred deals, effective lead conversion will require tailored scripts, education, and positioning. Kortas has noted that he used FSBO.com himself as a loan officer in the early 2000s, and that experience is expected to inform training for today’s loan officers, including:

How to approach FSBO sellers as problem‑solvers rather than “rate‑quoters.”
How to use AI‑generated insights from the platform (timelines, pain points, property details) to craft relevant lending solutions.
How to position pre‑approvals and financing options to both sides of the transaction without overstepping compliance boundaries.

For NEXA‑aligned LOs and potential JV partners, FSBO.com becomes part of a larger platform strategy: connect real estate activity, consumer education, and mortgage solutions through shared technology and data, rather than relying solely on traditional agent referral relationships.

Positioning Within the FSBO and Proptech Landscape

FSBO.com’s modernization comes at a time when the broader real estate industry is rethinking the traditional agent‑centric model. Commission pressure, consumer demand for transparency, and advancements in AI all create a ripe environment for hybrid and consumer‑direct models.

In this landscape:

FSBO.com’s nearly 30‑year brand recognition provides a powerful base of credibility in the FSBO niche.
The AI‑driven overhaul differentiates it from simple flat‑fee listing services by focusing on end‑to‑end guidance, not just advertising space.
The tie‑in to a large mortgage brokerage ecosystem via Kortas’s leadership introduces a potential flywheel of traffic, financing, and education that could reshape how FSBO transactions are supported.

If executed as described, FSBO.com acquisition could evolve from a legacy classifieds‑style site into a modern, guided transaction hub that empowers consumers while creating structured opportunities for lenders, vendors, and other housing‑ecosystem partners.

FAQs About FSBO.com Acquisition New Direction

Who Owns FSBO.Com Now?

FSBO.com is now owned by FSBO Holdings LLC, an entity led by Mike Kortas, Founder and CEO of NEXA Lending, with strategic partners including Brad Rice, CEO of Homepie, Inc.

Is FSBO.com Becoming A Traditional Real Estate Brokerage?

The stated goal is not to turn FSBO.com into a conventional full‑service brokerage, but to keep the “For Sale By Owner” independence while adding AI‑powered guidance, tools, and optional service connections around the transaction.

Will Sellers Still Be Able To Sell Without Using An Agent?

Yes.
The core mission remains empowering homeowners to sell independently.
The modernization is focused on improving usability, transparency, and support, not forcing agent representation.

How Will Loan Officers Get Involved?

Once technology integration is complete, loan officers—especially those on the NEXA platform—are expected to receive consumer leads generated from FSBO.com’s traffic and AI‑guided workflows, with training and tools tailored to FSBO‑style transactions.

What Does This Mean For Independent Mortgage Brokers And Real Estate Professionals?

For independent professionals, FSBO.com’s evolution signals a broader trend: consumer‑first platforms, supported by AI, are likely to become increasingly central to how buyers and sellers start transactions.
Success will depend on being integrated into these ecosystems—through partnerships, JV structures, or referral arrangements—while still maintaining strong local expertise and compliance.

Planned Modernization and AI Integration

The new ownership group plans a full-scale modernization of FSBO.com, focusing on:

Usability: Redesigning the platform to meet modern web and mobile standards, making it intuitive for users of all technical skill levels.
Transparency: Providing clear, upfront information about costs, processes, and potential outcomes.
Consumer Empowerment: Offering tools and resources that demystify the selling process, such as guided steps, document templates, and pricing insights.
AI-Driven Tools:
- Lead Generation: Using AI to match sellers with potential buyers or service providers (e.g., loan officers, title companies).
- Guided Selling: AI-powered assistants to help homeowners navigate legal requirements, marketing, and negotiations.
- Integration with Lenders: Kortas mentioned that loan officers could receive leads almost immediately after technical integration, creating a seamless ecosystem for sellers and buyers.

Historical Context

Longevity: Founded over 29 years ago, FSBO.com has weathered shifts in the real estate market, from the rise of online listings to the dominance of agent-centric platforms like Zillow and Redfin.
Brand Trust: Its longevity has made it a trusted name among homeowners seeking alternatives to traditional brokerage models.

Strategic Implications

Competitive Edge: By integrating AI and focusing on consumer experience, FSBO.com aims to differentiate itself from both traditional FSBO sites and agent-driven platforms.
Synergies with NEXA and Homepie: The acquisition creates opportunities for cross-promotion and integrated services, such as lending, legal support, and closing assistance.
Market Positioning: The overhaul positions FSBO.com as a modern, tech-forward solution for the growing number of homeowners interested in DIY home sales.

Timeline and Next Steps

Technical Integration: Immediate focus on integrating AI tools and lead-generation systems.
Platform Redesign: A phased rollout of new features and UI/UX improvements.
Stakeholder Engagement: Collaborating with loan officers, real estate professionals, and other partners to build a comprehensive ecosystem.