Jeff Dowler, CRS, The Southern California Relocation Dude (eXp Realty of California, Inc.)

Spam prevention
Ambassador
3,366,929
Anna Banana Kruchten CRS, Phoenix Broker
HomeSmart Real Estate BR030809000 - Phoenix, AZ
602-380-4886

Jeff I know very little about it - enough that it's not the direction our clients need or want to go typically.  I know that my company does partner with them and I'm sure some find it helpful. Jan Green could tell you more specifics as I think she looked in to last year or so for a client?  I'll see if I can find a link and pop back in here.

 

Jeff i just sent you 2 emails - one with brief info and another with a video.

May 31, 2022 03:55 PM
Rainmaker
1,132,594
Jan Green - Scottsdale, AZ
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Yes, I do!  I'm a Knock Certified Agent.  Basically, they will buy your house (85% of value) on paper so you can make a non-contingent offer.  You can still list and sell the home for more.  They charge 1.25% fee to lend you $ to buy the new house up to a specific price ($750,000 was last price I heard) but they DO NOT charge a 1% origination fee like some lenders do.  They lend you $ to upgrade your existing home AT NO COST to sell it for more money at no charge.  Contact Knock to learn details in any other state other than Arizona. 

 

iBuyer program is vastly different.  The last scenario I had with Open Door and Offerpad.  I walked a house with my contractor that needed at least $100,000 to fix, remodel and $150,000 would have been better.  I told sellers that according to other comps, maybe we could sell it as is for $375,000.  I contacted Offerpad and they offered $424,900 minus 5% as is - netting $399,406.  OpenDoor offered $484,000 and I don't know the net price, but my sellers went with OpenDoor.  My sellers contacted OpenDoor without me, not knowing I could have worked with them as that was before we met.  It's always a good idea to be ahead of the game by putting this stuff in a listing presentation as an A, B and C option.  But of course when clients call them first there's little we can do but wish them well :)   Always glad to help Jeff!  Thank you Patricia Feager, MBA, CRS, GRI,MRP 

May 31, 2022 05:17 PM
Rainmaker
1,754,773
Lyn Sims
Schaumburg, IL
Real Estate Agent Retired

Never heard of it.

May 31, 2022 11:31 AM
Ambassador
3,134,192
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate

Knock. Knock.

Who's there? 

Never heard of that program before now. 

https://www.knock.com/home-swap/

700+ 5 star reviews on the Z site. 

May 31, 2022 09:55 AM
Rainmaker
3,642,724
John Pusa
Berkshire Hathaway Home Services Crest - Glendale, CA
Your All Time Realtor With Exceptional Service

Hello Jeff Dowler, CRS I haven't heard Knock Home Swap Program yet!

May 31, 2022 08:18 PM
Rainmaker
988,626
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

Knock Home Swap is a program that helps a buyer buy a new home and then sell the existing home. It makes a buyer appear to be a cash buyer, thus making their offer more attractive. It would interesting to know of all the costs and fees involved.

Knock is not the only company to offer this type of program. I believe that Reali, which operates in our market, offers a similar program.

May 31, 2022 04:48 PM
Rainmaker
2,539,953
Patricia Feager, MBA, CRS, GRI,MRP
DFW FINE PROPERTIES - Flower Mound, TX
Selling Homes Changing Lives

Jeff Dowler, CRS - Never heard of it, but the word "Swap," does not make me feel comfortable. I just GOOGLED them. I question the authenticity of the testimonials. Sounds like another iBuyer Program that could possibly be a trap for couples who don't want to live together, but that is only a guess. 

May 31, 2022 04:46 PM
Rainmaker
1,335,552
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Jeff Dowler, CRS I want to alert you to Jason E. Gordon who has a similar opportunity when you use his lending services called Cash Is King and PYT (protect Your Transaction). It literally allows your sellers to be cash buyers before they sell their own home, it does similar for renters that want to buy and it has huge perks.

Jun 01, 2022 09:53 AM
Rainmaker
1,035,640
Doug Dawes
Keller Williams Realty Evolution - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Hmmm...new to me too

Jun 01, 2022 07:56 AM
Ambassador
5,657,981
Bob Crane
Woodland Management Service / Woodland Real Estate, EXP - Stevens Point, WI
Forestland Experts! 715-204-9671

Always seems to be another character coming up with a new angle in this game.

Jun 01, 2022 04:33 AM
Rainmaker
4,467,494
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Like Lyn Sims, never heard of it. Must be the Lake Michigan water?!!!! 

Jun 01, 2022 04:31 AM
Rainmaker
1,419,820
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Never heard of it before.  Looked at what Kathleen Daniels, Probate & Trust Specialist posted.  I have heard of this (or similar) concepts before.  With the iBuyers leaving the market in droves, I think this is probably going to go as well.  Sounds like they carry a lot of debt.

May 31, 2022 07:18 PM
Rainmaker
912,498
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

Knock, Open door and Offerpad are programs agents working with buyer should understand. iBuyer, investors, institutional buyers are a different option altogether.
When 60% of the market is CASH from 401Ks or profit from the sale of NY or CA homes, the local workforce has no way to compete. But these programs do create 'Cash" options for buyers.
This will increase the buyer's acquisition cost from 2 to 5%.
Of special consideration is taking a look at the agent compensation of each of these programs. It becomes clear who the agent should prefer. 
I also suggest touching base with your 'transactional funding' resources you used during the recession.
But, what I have found more effective, even at a profit sacrifice by the buyer, is the 'love letter' from the locally employed nurse, UPS driver husband, looking at getting out of the rent trap and wanting to buy THIS home. Many states and associations prohibit this means of presenting needs to the seller.  Just doesn't seem right.

Jun 02, 2022 05:18 AM