BRN Process
What is the first thing to do when you receive a BRN?
Hit 'Create BRN' and upload it to Admin
‘AEP Pricing Guidelines’ is a tool to help with pricing repairs?
No, Watson is used to help price repairs.
You receive a BRN cancel, after the deadline (not on holiday or weekend, no saving it)? Buyer requests EMD to be refunded. Is seller entitled to keep EMD?
Yes, because BRN was received after the deadline!
What is this button 🦄 used for?
Zero BRN/Premises accepted!!!
BRN support suggested a credit amount over your threshold, do you still need to go through FTP?
YES, make sure to bring input, context, and solution to FTP.
When are BRN expectations set?
During the initial call
True or False, BRN support does not make the final decision?
True, BRN support is just SUPPORT!
True or False? As soon as you receive cancel BRN, you go BOM?
FALSE! You call first, get input, then post to FTP for final approval.
Buyer’s repair request is for cosmetic/preventative maintenance ONLY. What CREDIT amount should you give?
$0 Credit, the seller focuses on items that affect the immediate livability of the home.
Fall Through Panel aka the Seller is what?
The FINAL DECISION maker!
Agent sent inspections only with bids, do you start BRN process?
No, because you have not received the actual BRN. The seller DOES NOT negotiate outside of the BRN. Request the BRN to begin process.
What is the correct BRN support channel to post in?
#[mrkt]-brn-support
BRN due date falls on Sun. Agent doesn’t send until following Tuesday. Is it valid?
No, due to OD Addendum, all deadlines that fall on Holiday or Sat/Sun move to following business day by 5pm.
What is considered best practice to de-escalate BRN negotiations?
Pick up the phone! Seek to understand, then set expectations
BRN threshold is $2,000. Buyer requests $1,999.
Do you need approval?
No, it is below your threshold amount.
BRN is fully executed, what two button do you press?
‘Signed Addendum Received’ and ‘Release Contingency’
True or False: The proper format when posting to BRN support channel is: Address, context, ask question/input.
Fasle, the correct format is:
1. Tag @west-region-brn
2. Address w/link
3. Add Context
4. Ask question/input
Filling out the Escalation Form does what?
Generates/creates the Fall Thru link in slack in order to obtain cancel approval!
True or False: When you’re re-negotiating the BRN credit, you do not have to delete the initial credit addendum first.
False - Delete the initial credit addendum under ‘Edit Offer & Create Addendum’ tab. Then hit ‘Renegotiate’ and enter the updated terms.
Context: Buyer is agent buying for themselves and post inspection could no move forward.
Proposal: Cancel go BOM. Homes team to review inspection report and BINSR as there are some safety items listed.
What’s missing from this?
More Context!! Homes’ team input wasn’t received before going to FTP. Did we speak to agent to see if sellers could do anything? Submit for possible SPDS update.
When you need BRN Support to add a repair line item and verbiage, what button do you hit?
‘Follow Homes Process’ needs to be hit PRIOR to asking or BRN support input.
What rubric do we go off of for this call?
Offer to pend
Seller signature are required on a cancel BRN?
No! Seller signatures are not needed.
Where do you find your BRN threshold limit?
In the ‘Financial Summary’ of the BRN tab.
You go to FTP when:
BRN credit amount is below threshold
Termination is threatened
Unsaveable/Cancel Contract
All of the above
3. Unsaveable/Cancel Contract