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Instant Offers: How Real Estate Agents Can Compete

July 18 2019

parkbench instant offer strategies real estateInstant offer companies are a real thing and they are here to compete with you for their fair share of the real estate market. However, you should enjoy that people are reacting to instant offers as they have. Why?

Because it opens up a whole new kind of untapped marketing strategy that might lead to you closing more clients. In this guide, we will teach you how to create marketing campaigns and close these instant offer clients.

What Are Instant Offers?

In case you have not heard about instant offer companies like OpenDoor, ZillowOffers, and Offered, let us explain how Instant Offer actually works for a home seller's prospect.

  • Step 1: You fill out a form on these platforms sharing various details about your property.
  • Step 2: You get a flat purchase offer for your home.
  • Step 3: You can accept the offer and you basically sell your home.

Important: The homeowner still needs to pay any related closing costs when using any of these services.

A recent study by Mike DelPreteMike DelPrete found out that these instant offers are eventually selling the home at a price appreciation anywhere between 3.5% to 8%. While Zillow Instant Offers are at a lower end of the spectrum, their average selling price is more.

Do Homeowners Still Need a Real Estate Agent?

Yes, more than ever. Here's why:

Homeowners not only need a real estate agent, but the exploding market of instant offers have proven the importance of real estate agents with numbers.

Most of these instant offers present you a price that is typically lower than what a real estate agent would sell it. Why? Because they are selling the home at an average price appreciation of 8% to 4%.

Now think about it, homeowners pay you 2.5% commission to handle everything related to their transaction. So there is a high chance of the homeowner making more cash in hand after paying a real estate professional.

Now that you know the reality of these Instant offers, let's explore why people are gravitating towards them.

Why Homeowners Are Opting for Instant Offers?

There are two primary reasons why homeowners are opting for instant offers.

  • Speed – Everyone loves speed when it comes to selling their home. Instant offers give them a quick solution to get their homes sold. Typically the process of meeting real estate agents and selecting them to sell your home takes time.

  • Ease of use – If you ask me the true reason why instant offers work, it's because people like how easy the process is compared to hiring a real estate professional. You don't need to conduct any open houses, vacate your place for private showings and field constant calls from your agent with updates. It's a two-step process where the homeowners get a fair price and all they need to do is accept or reject the offer.

How to Create Your Own Marketing Funnel Similar to Instant Offers

Yes, you heard that, right? You can actually create your very own instant offer type funnel to get tons of seller leads.

First and foremost, find out the average number of days it takes for you to sell a home in your area. Generally, if you are selling a home in less than 30 days, then you can change the entire marketing message to attract homeowners looking for an easy way out.

Instead of asking for your visitors to fill out a home valuation form, you can tweak your message to say something like, "Sell your home in 30 days – Get your price today!"

Just by changing the messaging of your landing page, you are attracting these eager homeowners looking for a quick way out.

Step by step process of how to attract homeowners into this funnel

  • Create a real estate landing page that gives a fair value offer for someone's home to be sold within 30 days.
  • An irrefutable offer, like we buy your home if we fail to get a buyer. If you can't do that, then come up with other creative ways to make the offer stand out. Example Headline: Free Staging + VR – Your Home Sold In 30 Days.
  • Target homeowners and launch campaigns on Facebook and Google Ads.
  • For all new leads, send them a drip email series with client testimonials and more to nurture them inside your database.

Instant offers have solidified the need for a real estate professional more clearly than ever before. It also exposed a huge market where people are looking to sacrifice price for faster service. It's up to you to tweak your marketing and go after them using our blueprint above.

To view the original article, visit the Parkbench blog.