It’s easy to see why instant offers are enticing: minimal work and fast cash. But in this market—a seller’s market—national portals pushing instant offers are likely doing a disservice to sellers. Plus, the instant-offer model removes local brokers from the center of the real estate transaction, and we’re working hard to make sure that doesn’t happen. The first step is a united Front Range MLS. Check out our vision.
In the meantime, use these two tools now to help your potential clients understand the real value of their home:
Homes are unique. An instant-offer investor likely won’t take into consideration the upgrades, layout features, and other factors. Plus, the investor’s goal is to make a profit. A seller doesn’t get top dollar with that business model. According to a recent Inman article by Chris Rediger, sellers risk giving up thousands and maybe tens of thousands of dollars by taking an instant offer.
The only way the seller will know what their home is actually worth is by having an agent complete an in-depth CMA. Matrix has the CMA tool built in. Check out this how-to document for a step-by-step guide, and if you haven’t already, you should read this article: The Value of an Accurate CMA.
REcolorado Listings Metrics
Available from your CONNECT dashboard, REcolorado Listings Metrics allows you to easily view the activity on your listings, compare the activity to similar listings, monitor the impact of price changes and other updates, as well as email a weekly Seller’s Report to clients informing them of activity on their listing.
But, this article isn’t about what you can do for your current clients. It’s about how you can show potential clients what they’d miss out on if they took an instant offer. So, grab the Listings Metrics data you’ve collected from your current clients’ listings. Then, use it to show potential clients what homebuyer activity in this market is really like. For example, you could say, “Here’s a home I recently sold. Check out the interest it received. That translated into multiple offers and the seller was able to choose the best offer. If you’re looking to get the highest possible price, I can help you get it.”
Pro Tip: If you missed our announcement, REcolorado Listings Metrics was relaunched and it’s now better than ever. Check out the updates >>