RealSure — the home sale guarantee and alternative financing joint venture between Realogy and HomePartners of America — is live in five new markets this week, bringing the platform to 10 total markets across the country. The expansion follows an early-year pause due to COVID-19 and return to the market in July.
“Following a brief pause in spring 2020, we began relaunching in July 2020 with new features to the program,” Coldwell Banker CEO M. Ryan Gorman told Inman by email. “This relaunch phase will now place RealSure back in all original markets, and well-positioned for growth in 2021.”
As of Dec. 18, the platform is now live in Orlando, Sarasota, Fort Meyers, Sacramento and Chicago for home sellers with a qualifying property who are working with real estate agent affiliated with Better Homes and Gardens Real Estate, Century 21, Coldwell Banker, ERA or Sotheby’s International Realty.
The new markets, according to Gorman, are dictated by a combination of agent demand and market economics.
“We get tons of agent feedback every single day,” Gorman told Inman. “I personally hear from agents and brokers requesting RealSure for their markets constantly.”
“We make sure to consider both feedback from our field staff, brokers, & agents on future markets as well as advanced analytics around consumer demand and market dynamics.”
The RealSure platform comes in two components, the first of which is a home sale guarantee. RealSure’s gives consumers a cash offer — powered by its partner HomePartners of America — which is good for 45 days, while the consumer and agent seek offers on the market. The consumer can decide to pull the listing and take the cash offer at any time.
Even after accepting the offer, RealSure offers a flexible close and move-date, to work around the seller’s schedule, if they’re attempting to close another transaction.
The other component of the program is RealSure Buy (previously known as RealSure Mortgage), which essentially allows the homeowner to use a RealSure cash offer as collateral to purchase another home.
At a time when iBuyers purchases plummeted due to COVID-19, Gorman said there has been continued interest in RealSure because it offers something different than the traditional iBuyer platform.
“Competitive buyers in hot sellers’ markets need flexibility and confidence in the transaction,” Gorman said. “RealSure Buy’s features including assured close — which provides an option to extend its 45-day cash offer up to an additional 45 days — and flex stay —which provides an option for sellers to stay in their current home for up to 30 days after closing their sale/prepare for their next home — do just that.”
“At the same time, people have a deep desire to work closely with a trusted real estate advisor to help them get it done,” Gorman added. “That’s what sets RealSure apart and is interesting to today’s home seller and buyer.”