With 2020 being as topsy turvy as it has been, you might’ve forgotten the announcements that made headlines in the real estate world this year, including Opendoor going public and Zillow opening a brokerage. The real news here is that iBuyers are coming for the housing market in the next couple of years and are cutting agent commissions along the way.
Unlike these two companies, Knock has been a rock-solid industry partner for agents and allows them to have double the commission on deals. As Brad Inman said earlier this year, “[Knock] sounds like a no-brainer.”
You might’ve heard of Knock before, as they’re a unique real estate technology company that’s been around since 2016. Their solutions help people move freely, alleviating the significant pains that come with traditional home buying and selling. Their product, the Knock Home Swap™, allows clients to buy the home they want first and then sell their old one.
Here are the top 3 things you need to know about working with Knock:
- Your clients always make non-contingent offers.
The offer is underwritten by Knock so clients can buy their new home first contingency-free, move in, and then sell the old one afterward (Knock covers the clients’ old mortgage payments). Clients also get to work with their preferred agent! Knock doesn’t have real estate agents.
- You can make double the commission without any fees.
With Knock, agents automatically get both the buy-side and the sell-side of their clients’ deals, meaning double the amount of commission. Plus, Knock charges zero fees for the program (they make their revenue from the clients’ new mortgage), so agents get to have their cake and eat it too.
- Your clients skip living through showings and can get $25,000 for home renovations.
One of the best parts of being in their new home first is that clients skip the rigmarole of needing to get their home ready for showings while living there. Plus, if clients aren’t comfortable paying out of pocket for repairs, they can use Knock’s Home Prep solution. As part of the Home Swap, your clients can get up to $25,000 to make renovations on their old house, so it sells for the best price on the market. Bonus: if they do decide to make renovations, they don’t have to live through those either.
What’s the catch? Some agents say there isn’t one.
Here’s how to join
Knock is partnered with brokerages across the U.S. in 14 markets, including Berkshire Hathaway HomeServices, Keller Williams, RE/MAX, Better Homes and Gardens, and many more—offering their agents access to the Knock Home Swap. Learn more and sign-up here.