Yesterday, Jonathan and Associates was featured in the Charlotte Observer for our partnerships with Opendoor and Ribbon Home. Rather than get displaced by disruption, we are embracing it and seeking to use it to our client’s advantage.
It’s no secret that I have not been a fan of “Guaranteed Sale Programs“; the ones where agents proudly proclaim “I’ll sell your home in X days or I’ll buy it.” In essence, they are a disingenuous way to approach Seller clients with a false promise and, if you’re willing to start a relationship with one lie, how many more are you willing to tell to continue the relationship? Most offers of a guaranteed sale are about 80% of fair market value with the goal being, not that the agent would purchase the home in the event it didn’t sell but rather that the Seller would lower their price to one that’s in-line with the “guaranteed sale” price. In practice, homes are never purchased – it’s just a sleazy bait and switch marketing tactic.
The promise of an actual Guaranteed Sale can have value to a Seller that has urgency to sell their home, that doesn’t want to be fleeced out of their equity and doesn’t have the luxury of time should the Buyer fail to purchase. That’s why we’ve partnered with Opendoor to provide our Seller clients with an actual cash offer on their home the day it hits the market. The goal is to give our clients the guaranteed assurance that comes from a cash sale.
Sellers will have the option to take the offer or test the market for something better, utilizing our firm’s marketing strategies to secure a higher offer. It’s possible that other cash offers may present themselves or the Seller may opt for a financed deal. Our mission is to give our clients options while still providing them with the same level of service and representation that they’ve come to expect from our firm.
Our partnership with Ribbon Home has similar benefits for our Buyer clients. The market below $400,000 in the Charlotte market is extremely competitive, especially with homes flying off the market within hours of being listed. For a buyer that needs financing to purchase, this can result in a frustrating experience when competing with other Buyers that may have the means to purchase without a mortgage. That’s where Ribbon Home hopes to level the playing field. With Ribbon Home, Buyers can leverage Ribbon Home’s assets to purchase their desired home for cash and then purchase the property from Ribbon Home on a timeline that works for them. This is ideal for a buyer that needs to sell their home first before buying but the idea of a temporary move is frustrating.
My mission has always been to try to make the process of buying and selling a home easy and these two partnerships allow Jonathan and Associates to do just that.