August 13, 2020
6 MINUTE READ
Welcome back – we’ve missed talking real estate current-events with you!
If you’re just popping in, we’re discussing the ins and outs of how COVID is impacting the processes of buying and selling a home… at the same time.
Now, where were we? Oh, yes, selling and buying a home while working from home, distance learning, and maintaining social distancing is near impossible. But, Reali’s Trade-In program is solving these problems seamlessly.
Let’s pick up where we left off.
Trade-In is a program unique to Reali that allows a customer to buy and sell a home at the same time – seamlessly, frictionless… it almost sounds too good to be true. We can’t pinch you, but you’re not dreaming. And yes, Reali delivers on these promises of an easy, profitable, and organized step-by-step, proven process.
Here’s a breakdown of what we mean by Trade-In. This is what it looks like:
Don’t worry if there’s not enough equity in the old home to buy the new property – you can supplement the purchase as needed. Most Trade-In customers use a combination of a mortgage, the sale’s proceeds, and even extra cash to finance the transaction.
The only thing missing from this program is the stress and worry of traditional buying and selling. But, you wouldn’t really miss that, would you?
“Moving causes anxiety in some people and they are looking for ways to make it a smoother, easier process”, says Mia, one of Reali’s NorCal agents.
Good news for buyers and sellers, Reali’s Trade-In optimizes every step of the way.
Purchasing a new house is streamlined, and our clients have a better chance of landing their dream-homes since Reali buys with cash. We place all-cash offers on your next home, which is huge when navigating a low-inventory, high-competition, seller’s market – which we’re in right now.
“If they need to sell their current home to get to their next home, Trade-In unlocks the equity and provides the answer. For many, their downpayment (via equity) is locked up in their current home. We allow them to pull it out and put it to use before they sell their home”, says Mia.
Plus, the “built-in cash offer allows customers to win their dream home on the first offer”, Mia notes.
Sophie, a Reali manager, says, “Most markets are moving fast. Having a non-contingent cash offer helps you win amongst a lot of competition. And, most financed offers are being delayed, so going in cash takes some concern off the listing agent’s shoulders – and therefore, the sellers’, too.”
“Our cash-buy system helps make the offer the likely one the seller will choose, so we eliminate all the contingencies surrounding financing for the seller”, says James, a Reali SoCal agent. “There are no worries it will fall through due to the buyer’s loan somehow, and that is huge and helps with negotiating.”
“They like that they don’t have to do anything, it’s a one-stop-shop. We have the handymen, painters, vendors, and more”, says Mia.
“Finally, the sale of the clients’ unoccupied home yields FAR more showings, and ultimately a faster sale and a higher net sales price due to ease of showing… with all the attention going to unoccupied homes right now, I can’t stress this point enough!”, says James. “Trade-In, and being able to make an ‘ALL CASH’ 14-Day close with no contingencies of our client’s existing home is worth its weight in GOLD right now.”
In the COVID world, Trade-Ins are helping both buyers and sellers conduct easier, safer, and simpler transactions.
“One client said the image of her leaving the house, removing her pets, sitting in her car with her elderly pups every time a buyer wanted to tour the house, was enough to do trade-in”, recalls Mia, continuing. “2 of my Trade-In clients right now have 2 children under 2, and/or pregnant, and WFH. Moving is overwhelming with small children”, which is why they chose Reali’s Trade-In to make it easier for the entire family.
“I think there is something to be said in this time of uncertainty for “locking in” your new house quickly. Who knows what is going to happen in the next few months? A stricter SIP, going back to rules about no tours of occupied properties, homes selling even faster, etc… So, for people who are looking to move, the ability to buy a new home first minimizes the stress of the unknown and gets them safely moved into their new home”, says Sophie.
“Touring a vacant home also poses less of a concern to potential buyers”, continues Sophie. “They are less worried about germs on their tour if no one is currently occupying the home.”
“COVID has taught us that our Trade-In program is more valuable than ever”, says James. “Cash has always been king, and now more than ever before that is true. The cash offer formula that is part of our Trade-In program has been ever better received in this post-COVID world.”
“Also, the client’s existing home gets to be marketed ‘Unoccupied’ with Trade-In. With Coronavirus it is the ‘Unoccupied’ homes that are getting all the attention due to the ease of showing versus occupied homes… As such, they get the lion’s share of showings, attention, and offers. The net result is that our Trade-In listings will get an even better price as they are clean, prepped, always available for showing, and unoccupied! That is huge!”, exclaims James.