- Fear, inaction or a less-than-competitive instant offer/iBuyer program won't get you a seat at the table with sellers who are solicited by these companies.
It’s been a whirlwind week here on the podcast as we’ve clearly “kicked the hornet’s nest!” The emails and comments are rolling in, and though they’ve been overwhelmingly positive and thankful, they are also riddled with fear and misunderstanding about what is happening in the marketplace.
If you’ve missed our three previous shows on iBuyer/instant offer programs, make sure to go back and catch up so you can be on the same page with us.
Today, we’re focusing on the marketing and the nuts and bolts of how to roll out your own iBuyer/instant offer program.
While Zillow’s Instant Offers is still in test markets, now is the perfect time to get your own program together. Some of you may not see this come to your corner of the country for another two years, but that’s perfect because you will have the leg up on it when it does.
Now is the time for you to let go of the fear and anxiety, dive in and use your entrepreneurial mindset to build on things we’re telling you, make them better and enjoy the huge opportunity that awaits you.
If you’re still of the mindset that this type of program will only attract distressed sellers, we can guarantee you that is not the case.
Although it’s true that only 30 percent of the marketplace will go through with a program like this, the idea is going to appeal to everyone. This is not “We Buy Ugly Houses.”
This is going mainstream, and ERA’s announcement that it is rolling out its own competing program proves it. Don’t be surprised when other major brokerages start doing the same!
And for those of you still squawking that this isn’t going to work, it’s not going to happen, they’ll have to use the MLS, etc. — you haven’t done the research. Just listen to our example today about purchasing from the auction sites, and you’ll understand that this has already been happening!
In fact, look closely at the competing programs coming out of brokerages like ERA and see that without a complete paradigm shift about this, these so-called “competing” programs won’t be competition at all; they’ll be marketing gimmicks, and you’ll still end up losing.
We know that many of you have expressed fear about the math. You’re worrying how to do this like investors who have pumped billions of dollars into these companies, and then you don’t take any action out of fear.
Realize that we’re afraid if you don’t have a solid iBuyer program, you won’t even get a seat at the table to talk to these sellers, let alone have to worry about the rest.
You’re familiar with the already very popular Guaranteed Sold Program, right? If you don’t have the capital in the bank, you can create your own through government-backed financing. You can buy up to 10 properties with the 20 percent down payment from the equity in your guaranteed home sale listing.
Remember, that this is another spoke in your business wheel. You create wealth from what you do with the commissions you generate off of each spoke.
Listen to today’s podcast to hear how you can create a competing program that puts you on the map in your marketplace.
Subscribe to Tim and Julie Harris’ podcast on iTunes or follow us online at timandjulieharris.com.
Tim and Julie Harris have over 20 years’ experience in real estate. Learn more about their real estate coaching and training programs and schedule a free 1-on-1 coaching call at freecoachingcallsforagents.com.