The Basics
This is the acronym HW uses for offer presentation calls
What is HOP
7%
What is the HW Program Fee
The % sellers are netting additional proceeds on the Market Sale
What is 88%
88% of sellers net an additional proceeds on the Market Sale.
True or False? Do I have to hold a VIP call before I can HOP?
What is False
$500 per day penalty
What is the fee when a seller doesn't vacate after the agreed upon lease back is up
This is the acronym/name used to describe the HW program.
SBYL = Sell Before You List
21 - 30 days
What amount of days to close of escrow/closing with Homeward.
% of Homeward sellers did not receive any other investor offers
32%
32% of Homeward sellers did not receive any other investor offers. This means that Homeward makes offers on properties or neighborhoods where other investors don't.
The link I tell you to use when you send me your CMA
What is the Counter Offer Link
Why would a seller have a $4K refundable security deposit added as a debit from their first check?
What is a leaseback security deposit
This is the % of equity the seller is able to unlock with this program
What is 84%
$1,000 transfer fee from the 1st check along with repairs and maintenance credit
What is the cost for HW to take over utilities
This is the average % or dollar amount that sellers are earning additionally from the estimated net proceeds are earning on the market sale
What is 11%
Sellers are earning an additional 11%+ on the 2nd transaction, on average (which is >$30K, depending on the home price), which is 12% higher than investor offers.
Items(s) required 3 business days prior to closing
What is/are all proof and invoices of any/all seller required repair asks
3 out of 4 of the main HW buying parameters (aka Buy Box)
What are:
Expected Days on Market < 90
Offer Price $200k-$1.5M
Lot Size <5 acre
Year Built >= 1950 (with exceptions)
The 3 things Homeward provides to your seller
Guarantee
Certainty
Convenience
Up to 14 days from the original close date is what
What is the HW leaseback option
ACT IT OUT!
GIVE US YOUR BEST 30 second PITCH at your first appointment
This is required if extending past 30 days from the original close date
What is a current market value refresh
True or False- Effective after 5/21 your commission is paid at the time of the Homeward Purchase?
What is TRUE
An ideal Homeward customer AND the 3 situations they typically might be in
What is a seller with a market-ready home who is motivated to take a cash offer.
Sally Seller typically find herself in 3 different types of situations that HW is best positioned to help her with:
“Distressed Sally”--> In a tough life situation
Foreclosure
Probate
Divorce
Health Issue
Job Loss
“Convenience Sally”--> Doesn't want to list while living the house and deal with showings
Big family
Busy lifestyle
Investment property
“Certainty Sally”--> Concerned their home will sell as needed
Relocating
Found a house they want
Concerned about the Market future
$4000
What is Seller Leaseback Deposit
Objection Handlers- I don't want to pay the 7% fee
Role Play fee objection you hear from sellers
What are the 3 things needed to get an offer from the GO Team
The cost your seller will incur when the seller agrees to keep utilities in their name and then stops paying for them within the 120 days
What is 1% of the purchase price