iBuying, or instant buying, is a rapid way for homeowners to sell their homes without the hassle of listing it, staging it or holding open houses. But, not all iBuying programs are alike, particularly when it comes to eXp Realty’s iBuying program, ExpressOffers.
While other iBuying programs tend to throw the sellers into a “blind” system with no representation, at ExpressOffers, a seller gets matched with an eXp Realty agent who is certified and trained in the ExpressOffers program. That means sellers — if they choose — have their fiduciary interests properly represented by an eXp agent who helps them consider both options: iBuying or listing their home on the open market.
Two eXp Agents Find Great Success With ExpressOffers
Yuri Ramirez-Villanueva, an eXp Realty agent in Elk Grove, California, said that ExpressOffers helped generate three strong cash offers for one of her clients, who was in a situation where a traditional sale would not work.
“My seller wanted to sell as is, without having to do any work or have strangers coming through her home,” Ramirez-Villanueva said. “The ExpressOffers investors were competitive and were ready to close very quickly.”
Erin Doggette, an eXp Realty agent in Orlando, Florida, said ExpressOffers worked well for a client who needed a cash buyer.
“I literally completed the training and checked for iBuyers the next day,” Doggette said. “My client agreed to all of the terms and conditions, and we submitted our property. Within a matter of hours, we had four offers. We closed on the property and the entire transaction was completed within 15 days.”
How ExpressOffers Works:
- Home sellers submit a request to sell their home on ExpressOffers.com.
- An eXp Realty agent who is certified by eXp in iBuying is then matched with the seller who receives a thorough disclosure and is walked through every detail of the process.
- eXp agents may also submit properties on behalf of current or potential clients.
- The eXp agent then submits the request to a number of institutional buyers who are interested in purchasing the home.
- Properties may qualify to be submitted to more than one buyer, potentially yielding multiple cash offers.
How eXp Agents Benefit:
- Kept in the transaction as the trusted advisor, whether the seller uses ExpressOffers or chooses to sell their property on the open market.
- Some iBuyers on ExpressOffers relist the property after rehabbing the home and use the eXp Realty agent who initially submitted the offer. This gives eXp agents the opportunity to represent the property twice.
- Additionally, eXp agents can introduce new institutional buyers to the ExpressOffers platform and earn a portion of the platform fee each time that buyer successfully closes a deal.
- Cash offer option in situations where the house qualifies for a cash offer provides convenience with a quick, hassle-free closing.
How Investors Benefit:
- New lead source from thousands of eXp agents working in the marketplace.
- No minimum purchase; simply offer or pass on each property.
- Low acquisition fee paid only on closed transactions at closing.
- Seller pays agent commission, which is only listing side to the agent.
- An agent guides the seller through the transaction.
- Investors can re-list with eXp agents for 1.5% commission.
How Sellers Benefit:
- Convenience options allow sellers to sell quickly and hassle-free for cash when situations may require a more aggressive approach than going the traditional market route.
- They will have a certified eXp ExpressOffers agent by their side to explain and compare the benefits of an ExpressOffer versus going on the open market.
- They only pay the listing side of the commission (no buyer’s agent commission), if using ExpressOffers.
- No “convenience fees” or hidden costs to use ExpressOffers.
- Using ExpressOffers provides speed, convenience and control, relieving the uncertainty of a traditional sale.
- Flexible terms; the seller chooses the closing date.
How Do eXp Agents Become Certified?
For eXp agents to become certified, they are required to complete on-demand training classes via the Mindflash course software. The classes are free for eXp agents and the actual certification takes about 3.5 hours to complete, with two additional 45-minute classes. (eXp agents can take the certification course here.)
Once an eXp agent is certified as an ExpressOffers agent, they can begin to receive leads from interested sellers who have submitted an inquiry on the ExpressOffers landing page.
eXp Realty agents can learn more about the program via the ExpressOffers group in Workplace. There, information is offered on training courses for eXp agents to become certified. The ExpressOffers platform can be accessed by certified eXp Realty agents only at app.expressoffers.com.
ExpressOffers is available in all 50 U.S. states and currently has over 105 qualified institutional investors ready to make an offer on the platform.
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