iBuyers
How do I introduce an investor to the ExpressOffers Platform?
We have available investors in all 50 States. Our goal is to continue to bring investors on to our platform to ensure our agents receive responses and offers on their submissions. As certified agents looking to introduce investors to the ...
What are the ExpressOffers 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 ExpressOffers to potential ...
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 stay informed with the process when the iBuyer is rehabbing the property so we know when to re-list?
The iBuyer will not communicate with you at all during the rehabilitation process. Because each of our iBuyers will sign a Master Service Agreement (MSA) they are contractually obligated to re-list the property with the agent that presented the ...
Is it OK if I email wholesale properties to our iBuyers?
No. Our iBuyers will not entertain any wholesaler deals that are already under contract. This platform will only apply to authorized owners/sellers that have signed our Disclosure to Sellers. Our iBuyers will not accept any assigned contracts.
Is there a financial incentive for introducing iBuyers to ExpressOffers?
Yes. iBuyers are required to pay a platform fee per transaction and agents will be compensated ⅓ of that fee while eXp Realty will retain ⅔ of that fee.
Can I submit a HUD foreclosure to ExpressOffers?
Yes, however, when looking at HUD deals, pay attention to the offer restrictions of the other listing or on the HUD foreclosure website. Typically, the first 7 to 21 days are reserved for owner occupied offers ONLY. Investor offers will only be ...
Can I submit properties that are held on auction websites?
NO. As the initial offer from an iBuyer will be the highest and best offer, auction properties will not be a good fit for ExpressOffers. Additionally, most of our iBuyers have entire teams of people employed solely to watch for auctions, tax sales, ...
Can I submit Short Sale or Bank Owned (REO) properties?
Many of our iBuyers will entertain both short sales and REOs if the property fits into their 70 to 80% of After Repair Value purchase price. It is CRUCIAL that you identify the status of the property (Short Sale or REO) during the initial property ...
Will an iBuyer consider a probate deal?
The general answer is only if the property does NOT require court approval. This answer may not apply to all iBuyers. Note: This answer comes from our first iBuyer, Wedgewood, who states: "We would look to do a probate deal that does NOT require ...
The property has tenants in the house. Can I submit the property for consideration?
YES. Many of our iBuyers have flexible closing time frames and will consider allowing homeowners or tenants to stay in the property post-closing for an agreed upon fee. Offers from our iBuyers will factor in carrying costs and potential holdover ...
Will a Buy & Hold iBuyer offer close to list price?
YES. Typically, Buy & Hold iBuyers will offer 90 to 95% of fair market value. This is generally speaking as each iBuyer will have different investment goals. Offer prices may vary and will also depend on the degree of cosmetic updating (i.e., paint ...
Will a Fix & Flip iBuyer pay close to fair market value?
No. Typically an iBuyer whose intention is to purchase the property, does a complete rehab and resell (Fix & Flip) will use a valuation model of 70 to 80% of After Repair Value (ARV) to base their offer price. Keep in mind that generally this type ...