Timing the purchase and sale of a home is of the utmost importance but it can be difficult to nail, Knock Director of National Real Estate Stephen Freudenberg said during an Inman Connect session Tuesday entitled “Tools to Help Solve the Timing Problem in Real Estate.”

Frequently, clients attempt to juggle buying and selling while simultaneously working to qualify for mortgages, save for down payments and spruce up properties — but most solutions for real estate agents to help clients manage it all are imperfect, Freudenberg told the audience of the all-digital event.

Courtesy of Knock

Most people are familiar with traditional lenders, which are often the cheapest option. However, Freudenberg argued that these options don’t provide solutions for timing the simultaneous sale and purchase of a home.

Another familiar option, the bridge loan, often leaves clients in the position of paying for two mortgages at once with high interest rates, Freudenberg said. These loans can also be difficult to qualify for, he added.

With iBuyer and hybrid iBuyer options, clients are potentially able to move the process along more quickly, but the risk of dealing with costly convenience and transaction fees — and in the case of pure iBuyers, no agent representation — remains high.

With Knock Home Swap, however, clients can buy before they sell with Knock’s assistance at zero interest, Freudenberg said. Clients still get agent representation and can receive up to $25,000 for listing prep with Home Prep Concierge.

Lyndsey Harp, a Knock Certified Agent with Atlanta Communities who joined Freudenberg in the session, noted that using Knock can be especially helpful as clients deal with all the complications of working and schooling at home due to the coronavirus pandemic.

“The number one thing that I’m seeing is that … a lot of clients have kids who are at home who are doing digital learning right now,” Harp said. “So it alleviates that aspect of the home showing side.”

With Knock Home Swap, Freudenberg added, agents don’t have to worry about giving up commissions or covering program fees to help their clients.

“People are first, all the way,” Freudenberg said of the service.

Knock, a real estate technology startup, operates in Phoenix, Denver, Atlanta, Charlotte, Raleigh-Durham, Austin, Dallas-Fort Worth, Houston and San Antonio.

Email Lillian Dickerson

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
By submitting your email address, you agree to receive marketing emails from Inman.
Success!
Thank you for subscribing to Morning Headlines.
Back to top
×
Log in
If you created your account with Google or Facebook
Don't have an account?
Forgot your password?
No Problem

Simply enter the email address you used to create your account and click "Reset Password". You will receive additional instructions via email.

Forgot your username? If so please contact customer support at (510) 658-9252

Password Reset Confirmation

Password Reset Instructions have been sent to

Subscribe to The Weekender
Get the week's leading headlines delivered straight to your inbox.
Top headlines from around the real estate industry. Breaking news as it happens.
15 stories covering tech, special reports, video and opinion.
Unique features from hacker profiles to portal watch and video interviews.
Unique features from hacker profiles to portal watch and video interviews.
It looks like you’re already a Select Member!
To subscribe to exclusive newsletters, visit your email preferences in the account settings.
Up-to-the-minute news and interviews in your inbox, ticket discounts for Inman events and more
1-Step CheckoutPay with a credit card
By continuing, you agree to Inman’s Terms of Use and Privacy Policy.

You will be charged . Your subscription will automatically renew for on . For more details on our payment terms and how to cancel, click here.

Interested in a group subscription?
Finish setting up your subscription