Texas State ExpressOffers Procedures
Situation 1: Do you have this property already under a Listing Agreement?
- YES: STOP. Reach out to your Managing Broker. All ExpressOffers MUST represent the iBuyer, Intermediary may not be used. Listing Agreement will need to be terminated.
- NO: Proceed to Situation 2.
Situation 2: You have a property that is not currently on the MLS and would be a candidate for ExpressOffers:
- Check to ensure the property completely fits a Buy Box.
- Make an appointment with the owner(s) to discuss the ExpressOffers process.
- Provide Owner(s) with CMA and Disclosure to Seller brochure (can be downloaded in the ExpressOffers platform under Downloads).
- If owner(s) wish to move forward, forms MUST be completed in this order:
- ExpressOffers Disclosure to Seller acknowledgement
- Registration Agreement Between Broker/Owner (EXAMPLE below)
- Any required disclosures/notices/addenda
- Complete the required ExpressOffers Property Condition Report.
- Enter the Express Offers Listing in SkySlope.
- Submit the property into the ExpressOffers platform.
Outcome 1: OFFER ACCEPTED!
Connect with the Buyer and complete All Buyer Required documents, contract, disclosures, addenda, etc. as you would for any transaction in Texas. Send them to the Seller for signature and place an Executed Date on the contract when all signatures have been obtained. Continue as you would for a regular Transaction.
Outcome 2 : NO OFFER/OFFER NOT ACCEPTED
After all EO Listing Documentation has been loaded into SkySlope, cancel the Listing.
**No Listing Termination is required because the Registration Agreement Between Broker/Owner had a short term period.
Option: Go back to the Seller and ask if they would like to sign a Listing Agreement (this could also be done at the initial meeting- Listing Date MUST start after the termination date on the Registration Agreement Between Broker/Owner) and go on the resale market. If so, follow all the regular procedures for a traditional MLS Listing.
Louisiana ExpressOffers Procedures
When you do a listing presentation with a seller and believe the house might be a prospect for an iBuyer, you will complete a normal listing agreement with the seller along with all documents required. You will then write an addendum to the listing ...
Colorado ExpressOffers Procedures
Jes and I created a video to explain why we have to do the procedure this way. Watch it here. Situation 1: You found an off market property that would be a candidate for the ExpressOffers program: Check to ensure the property completely fits a Buy ...
How does ExpressOffers vet our iBuyers?
This is the vetting process to bring an iBuyer into our ExpressOffers platform: An iBuyer is expected to give us Proof of Funds (POF) in the highest amount of their Buy Box every two months. For example, if their Buy Box shows $100,000 to $500,000, ...
How do I access ExpressOffers?
app.expressoffers.com Log in with your eXp Passport credentials, which is your exprealty.com email address and password that you use to log into Enterprise and other eXp software applications. You will only be allowed access to the software platform ...
What if I’m licensed in one state but want to submit a property in another state?
NO, you can only practice real estate in the state(s) in which you are licensed. If you find a great deal in another state, you might consider posting it in the iBuyer Workplace group asking for an agent in that state to take it on. You may be able ...