So, we’ve given you the answer: Don’t fight it, avoid it, argue it, petition it…just start it! Your very own Instant Offers program.
Your mindset has to be as if you are under attack. You must see this for what it is: an all out attack on how business is done. These programs won’t just affect the listing side.
** Brokers and agents. It’s our belief that if you aren’t offering an Instant Offers program in the next 12 months or sooner, you will lose. If you are competing with the Instant Offers companies now and you aren’t offering an Instant Offers program NOW, you may have already lost.
** Not offering an Instant Offers program now is akin to not putting your listings online. There were holdouts back in the late 90s/early 2000s that “didn’t believe in the Internet” and that made them obsolete.
** Brokers – WAKE UP. Instant Offers is the killer tool to recruit agents. What if KW were to form an agreement with an institutional investor and form their own Instant Offers program? That would mean every KW agent would be able to take listings via Instant Offers. If you had to compete with those agents and you didn’t have an Instant Offers program, you are in trouble.
** If you are a broker competing for agent talent and your competitor has an Instant Offers program and you don’t, you’re in deep trouble.
Your Marketing Plan of Attack
- Everything in digital, print, social needs to invite sellers to inquire about your Guaranteed Home Sale/Instant Offers program.
- Use the term Instant Offers
- Lock in that term with your name, i.e. Harris Instant Offers Program
- Register, buy the URL
- Radio ads
- Home brochures
- 1800homehotline.com ads
** Create a killer landing page. Copy what they are doing in Arizona and assume the iBuyers companies have tested their pages. COPY their USPs (Unique Selling Propositions)
Be the first mover in your market. Your goal is for people to think your name is Instant Offers Bob!
- Move up programs for builders.
- Move up programs for buyers moving UP to your listing. (Think about what an absolute KILLER listing tool this is.)
- You will need to assume every seller is going to at least consider Instant Offers. You will be competing with iBuyers for every listing. That has to be your mindset.
Structure of Program
YOU buy them. Copy what they are doing. You can use your money or private “mom and pop” investors. Limit how many you will buy each year. Nearly everyone can get at least ten government-backed mortgages with 20% down.
The Instant Offers offers will be incredibly aggressive from the funded companies. They are buying YOUR inventory and the DON’T CARE if they lose money in the short term. As a matter of fact, they are being measured by a yardstick that is YEARS long. They will do what Amazon did (and what Zillow did) – market share, market share, market share and when they get there they will then raise prices (lower offers).
Do what Zillow is doing, literally. If you are in a market where the iBuyer companies are active, send them the folks you get that want to go Instant Offers and won’t list.
** Remember, by offering an Instant Offers program you will get call outs for listings that you would have otherwise not have gotten.
Copy what the other iBuyers companies are doing. Literally get their deal sheets and send them to your attorney.
Use an iBuyer company that is active or wants to be active in your market. Brokers, this is your easy button to roll this program out.
*Listen to Part 1, Part 2 and Part 3 of this topic for all the background info!