saas product to eliminate realtors -
I am working on developing and interactive web application to be sold alongside an info-product which will enable homeowners to sell and list their homes in a virtual environment using very special marketing techniques.. I know this sounds almost cliche with how many FSBO offerings and free listing sites that are out there... However, over 1.5 Million people nationwide sell their own home each year. At even 1-2% of the action depending on what we price it at and after we add in the "up-sells" & supplemental they will need like live support and "canned responses" in other words they are purchasing a series of classes/modules which means they will actually have to work at it.. This won't be for everyone.. And I will tell them upfront what it takes to actually be successful; for them it's roughly a 3-4 hour gig, but for $15-30K from the market testing I have done in my own portfolio this could be very big.. its like a FSBO (for sale by owner) without the fee but with the automated benefits of an agent.. Almost like an AI..
Over the past 10 years I have methodically extracted and documented almost 40 years of experiences my father went through as an up and coming realtor (through 4 financial crisis he learned to survive at all costs) - Totally self made high school drop out but a brilliant businessman.. I want to make this unique knowledge (which I cannot find anywhere in the real estate industry these days) available to agents and sellers.. everything from AITDs, to hard money lending to exchanges we got info on it and I wanna get it out there.. its works because its true.. Maybe a forum format? Webinars have worked great so far as have whiteboard style visual representations..
The other day I probed my existing portfolio and asked some of my current clients if they would ever consider selling their own home (to save the commission) several indicated a high level of interest and stated they would join me in a webinar to speak about such things.. I had 11 turn out and all of them absolutely loved the idea, they especially loved the community format of the webinar because all the questions are pretty common to most people in a certain market sector.. and not only did they say they would buy the product, but by the end of the presentation they saw true value in my methods as I was teaching and coaching instead of saying "i am the best realtor in the world" and I ended up listing 2 of the 5 people who were seriously interested..
Some also attempt it then don't have the sand or don't wanna waste the time cause their mostly rich people with extra homes and I end up handling the deal when they become fed up.. Which is fine because later on we can possibly sell leads to agents from sellers..
The market shifted down about 4% over the last 65 days in orange county so some of them couldn't quite net enough to zero out and pay no out of pocket costs to sell.. Very common..
The idea came about organically when I mixed my marketing strategy of selling homes in less than 10 days and guaranteeing multiple offers with zero obligation to sell regardless of the price obtained (I can elaborate on how this is really done - I can break this thing down into 10 steps in 10 days and a 5 minute video for each step / Camtasia style kinda thing..
My own brother was recently in the same boat.. I recently coached my brother marcus through a successful no listing agent transaction via recorded webinar and it sold with 6 offers (all above list price) and after only a single group showing..
No signs no lockboxes no inconvenience of any kind.. It took a week and he saved 40,000 maybe had 2-3 hours of actual work / time involved including the thirty minute showing.. He never spoke to one buyer or agent. I prepared prerecorded messages, emails and pamphlets which the sellers are directed to hand out to interested parties rather than speaking which leads to trouble without representation.. even the buyer liked the process more than the conventional.. "you go high I go low game"
FSBO.com / OWNERS.com charge about $500 just to simply allow sellers to list their home on the local MLS (both have also offered affiliate fees/splits to push the product on their pages and theirs on mine... so I am thinking if the sellers will be saving $15k / $500k in sales price at 3% roughly (because usually there will still be one buyers agent involved who will earn between 2-2.5% + normal escrow / closing costs of course split 50/50 buyer & seller..
I mean who wouldn't pay $999- $1999 to save $15 grand.. And this thing is almost magically sellable because it was proven and documented back to inception, and with 1.5 million (10 x that in attempts) successful fsbo's per year @ 3% we would attempt to reach a quota of 30-45,000/year at say an average of 1K per product for base price (I really think we could also charge a bit more, but volume is everything here..) the potential profits are substantial plus they will need live support, prepped for up-sells, and lots of supplemental add-ons to complete their deal.. again we would retain and run ads specific to each market... buyer, seller, renter, borrower, lender, landlord, tenant, etc...
I would like your take on whether or not to implement my own marketing strategy locally while at the same time selling the products nationwide...I speak with my attorney tomorrow about agency legality and some states require attorneys to sell so we cannot capture 100% of the market, but the states that have the best figures are open season... My gut says to keep my local marketing techniques which are very unconventional (I take 10 day no obligation listing contracts.. no 6 months.. no open houses.. no waste of time. I then present my seller with multiple offers all confidential and revised to highest and best after the preset showings are complete and the offers have gone through the 48 hour highest and best offer revision process.. my listings consistently sell for OVER appraisal and they are usually forced to waive the appraisal contingency outright..
Help me figure this out! Any advice is appreciated and even if you can point me in the general direction I would be forever in your debt.
Over the past 10 years I have methodically extracted and documented almost 40 years of experiences my father went through as an up and coming realtor (through 4 financial crisis he learned to survive at all costs) - Totally self made high school drop out but a brilliant businessman.. I want to make this unique knowledge (which I cannot find anywhere in the real estate industry these days) available to agents and sellers.. everything from AITDs, to hard money lending to exchanges we got info on it and I wanna get it out there.. its works because its true.. Maybe a forum format? Webinars have worked great so far as have whiteboard style visual representations..
The other day I probed my existing portfolio and asked some of my current clients if they would ever consider selling their own home (to save the commission) several indicated a high level of interest and stated they would join me in a webinar to speak about such things.. I had 11 turn out and all of them absolutely loved the idea, they especially loved the community format of the webinar because all the questions are pretty common to most people in a certain market sector.. and not only did they say they would buy the product, but by the end of the presentation they saw true value in my methods as I was teaching and coaching instead of saying "i am the best realtor in the world" and I ended up listing 2 of the 5 people who were seriously interested..
Some also attempt it then don't have the sand or don't wanna waste the time cause their mostly rich people with extra homes and I end up handling the deal when they become fed up.. Which is fine because later on we can possibly sell leads to agents from sellers..
The market shifted down about 4% over the last 65 days in orange county so some of them couldn't quite net enough to zero out and pay no out of pocket costs to sell.. Very common..
The idea came about organically when I mixed my marketing strategy of selling homes in less than 10 days and guaranteeing multiple offers with zero obligation to sell regardless of the price obtained (I can elaborate on how this is really done - I can break this thing down into 10 steps in 10 days and a 5 minute video for each step / Camtasia style kinda thing..
My own brother was recently in the same boat.. I recently coached my brother marcus through a successful no listing agent transaction via recorded webinar and it sold with 6 offers (all above list price) and after only a single group showing..
No signs no lockboxes no inconvenience of any kind.. It took a week and he saved 40,000 maybe had 2-3 hours of actual work / time involved including the thirty minute showing.. He never spoke to one buyer or agent. I prepared prerecorded messages, emails and pamphlets which the sellers are directed to hand out to interested parties rather than speaking which leads to trouble without representation.. even the buyer liked the process more than the conventional.. "you go high I go low game"
FSBO.com / OWNERS.com charge about $500 just to simply allow sellers to list their home on the local MLS (both have also offered affiliate fees/splits to push the product on their pages and theirs on mine... so I am thinking if the sellers will be saving $15k / $500k in sales price at 3% roughly (because usually there will still be one buyers agent involved who will earn between 2-2.5% + normal escrow / closing costs of course split 50/50 buyer & seller..
I mean who wouldn't pay $999- $1999 to save $15 grand.. And this thing is almost magically sellable because it was proven and documented back to inception, and with 1.5 million (10 x that in attempts) successful fsbo's per year @ 3% we would attempt to reach a quota of 30-45,000/year at say an average of 1K per product for base price (I really think we could also charge a bit more, but volume is everything here..) the potential profits are substantial plus they will need live support, prepped for up-sells, and lots of supplemental add-ons to complete their deal.. again we would retain and run ads specific to each market... buyer, seller, renter, borrower, lender, landlord, tenant, etc...
I would like your take on whether or not to implement my own marketing strategy locally while at the same time selling the products nationwide...I speak with my attorney tomorrow about agency legality and some states require attorneys to sell so we cannot capture 100% of the market, but the states that have the best figures are open season... My gut says to keep my local marketing techniques which are very unconventional (I take 10 day no obligation listing contracts.. no 6 months.. no open houses.. no waste of time. I then present my seller with multiple offers all confidential and revised to highest and best after the preset showings are complete and the offers have gone through the 48 hour highest and best offer revision process.. my listings consistently sell for OVER appraisal and they are usually forced to waive the appraisal contingency outright..
Help me figure this out! Any advice is appreciated and even if you can point me in the general direction I would be forever in your debt.
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