What are the competitive advantages of the Express Offers program in uncertain times?
Our Express Offers program has some advantages over other iBuying platforms in uncertain times:
- We have multiple iBuyers with different company sizes, territories and investment strategies (Buy & Hold, Fix & Flip and Land purchases). So, even if some are being more cautious, others will be ready to buy.
- Buy & Hold investment strategies work well in a down market. Investors like rental markets because people tend to rent a property, rather than buy in economic uncertainty. Investors like getting properties at a lower price, holding them and letting them appreciate over time. However, Buy and Hold iBuyers are negatively affected right now due to the moratorium on evictions, which may cause them to buy less until the moratorium is lifted.
- Fix & Flip iBuyers are still purchasing properties, but they will be very prudent in their purchasing decisions and are looking for wide margins! So, it's best to only submit properties that are a very good deal.
- Smaller iBuyers are actually more likely to buy in uncertain times than larger iBuyers because they have less overhead.
- Our iBuyers are waiting for more information from the government, Federal National Mortgage Association (FNMA) and their investors before deciding how much the Coronavirus pandemic affects their business.
- The Big 3 - Opendoor, Offerpad and Zillow Offers are pausing indefinitely, so we are the only option for iBuying platforms.
- Benefits that help us stand out to consumers:
- Cash offers in as little as two days.
- Skip the hassle of staging and showing.
- Pick your closing date.
- No obligation offers.
- No convenience fees.
- Multiple offers possible on your home.
- Skip out of pocket repairs.
- Agent expertise every step of the way!
How does Express Offers vet our iBuyers?
This is the vetting process to bring an iBuyer into our Express Offers 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, ...
Colorado Express Offers 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 Express Offers program: Check to ensure the property completely fits a Buy ...
What is Express Offers?
Express Offers is eXp's proprietary iBuying software platform that connects eXp Agents to our marketplace of Institutional Investors (iBuyers). You identify properties for the investors using their Buy Box criteria (investment strategy) and receive ...
How do I introduce an iBuyer to the Express Offers platform?
We are focused on iBuyers in all the gray states on our national map. Gray states will take priority, while we backfill iBuyers in other states. Here is the process to introduce potential iBuyers into the Express Offers platform. The iBuyer must meet ...
What are the Express Offers benefits for investors?
This article is for you to use while speaking with an investor. It is an INTERNAL document, please do not share it. There are several benefits for the investor. You can use these as talking points when you introduce Express Offers to potential ...