ERA Express Sell…
Looks like brokerages/franchises are going down the instant offers path in order to help their agents win more listings (as I guessed).
ERA is joining the mix (Inman coverage here) that includes Zillow, Redfin, Opendoor, Easyknock, and OfferPad (and others).
PS: I found the following video from September of 2016, so this concept has been in the works for a long time.
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Ryan Gullett
Posted at 10:54h, 19 JulyI am generally curious to hear what everyone thinks of this(instant offers), it certainly has a HUGE back lash from those in the industry (agents).
Generally speaking, these programs are not good for sellers as they will yield lower offers from what you could get with an agent in the open market. Especially in today’s real estate market. Inventory is so low, most houses are limited on with time on the market and get competitive offers as it is.
Most agents are scared of this because it is a model that threatens their commission. However, do you think this type of model can exist in the market together? Or do you think it will have an impact that will change the way we buy and sell real estate?
Bryn Kaufman
Posted at 11:29h, 19 JulyRyan, I think there is a place for this model for certain sellers, but most sellers want to maximize their earnings, so they will still use a traditional agent. This will remain a very small piece of overall sales.
Ryan Gullett
Posted at 11:43h, 19 JulyI agree. Which is why I am confused with so many agents who are just up and arms about this changing the industry. People are creating websites to get people to stop the Zillow program.
I think its a good way for agents to strengthen their value proposition by attacking it.
Drew Meyers
Posted at 14:23h, 19 JulyAgreed. Ignoring potential consumer wins/desires like instant offers is a sure way to eventual irrelevance for the industry.
Ryan Gullett
Posted at 14:26h, 19 JulyAre you saying its something that agents and the industry should accept as a value proposition in their business?
Drew Meyers
Posted at 15:07h, 19 JulyAccept that consumers may be okay with accepting less money than they could get on the open market if it means less stress, a speedier transaction, quick cash in the bank, and peace of mind? Absolutely.