For over 40 years, real estate franchisor ERA has formally promised thousands of homeowners that it would buy their homes if the brokerage's agents failed to sell the properties on the open market. But not once during the last 15 years or so has ERA had to bite the bullet, said ERA CEO Sue Yannaccone. Every homeowner that signed up for the "ERA Seller Security Plan" during that period either sold their home with an ERA agent or ultimately chose not to sell to ERA, she said. Now ERA, one of several franchise brands operated by real estate behemoth Realogy, has unveiled a new version of the program under which ERA will promise to buy a home on a much shorter timeline. "ERA Express Sell" appears designed to capitalize on growing demand for iBuyers -- a moniker for high-tech investors that make quick offers on homes and can close in days. ERA revealed the program to Inman shortly after Redfin introduced its own iBuyer, Redfin Now. But like the ERA Seller Security Plan, ERA E...
- "ERA Express Sell" appears designed to capitalize on growing demand for iBuyers but will primarily serve as marketing tool.
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