Upload
others
View
22
Download
0
Embed Size (px)
Citation preview
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
SIRVA Relocation Preferred Broker Network SIRVA-Team Agent Training 2013
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Modules
Module 1 – The SIRVA Partnership & SIRVA-Team Agent Role
Module 2 – Departure Services
Module 3 – Destination Services
Module 4 – SIRVA-Sister Company Support
Module 5 – Performance and Quality Expectations
SIRVA Team-Agent Test
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Goal of Module 2
There are two goals of Module 2, Departure Services (APEX
2.0)
The first goal is to provide you with instruction on working
directly through SIRVA‟s internal operating system, APEX,
through the listing and marketing process.
The second goal is to ensure you understand the high level of
expectation SIRVA places on risk management and how, as a
SIRVA-Team Agent, you are also a Risk Manager.
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Departure Services Module 2
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Departure Services
Home sale programs
• Pre-Decision
• Home Marketing Assistance (HMA)
• Traditional
AVO – With a buyout
BVO – Without a buyout
• Fixed Fee
AVX – With a buyout
BVX – Without a buyout
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Home Sale Programs
Referral process
• Competitive BMA process
• Every BMA counts!
• May be one, two or three BMAs
• Policy-by-policy
• SIRVA Standards
• Commission = 6%
• Split – 50/50
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Departure Services – Pre-Marketing
Transferee Appointment
• One-step appointment!
• Contact transferee to set appointment immediately
• Purpose: Present marketing strategy and view property in order to complete BMA
• No discussing specific price
• Do not “pressure” transferee to commit to agent choice
• Never have transferee sign any paperwork at appointment!
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
APEX – What is it?
Online system for
associates,
transferees, and
vendors
Goal of standardizing
processes and
increasing efficiencies
(both internal and
external)
Broker/Agent Processes
Currently Through APEX
•Broker Profiles & Agent
Profiles
•Home Sale - All BMA
process points
• Home Sale – Listing &
Marketing
•Home Finding – Start to end
process
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
• Agent receives APEX task with EE information
• Agent calls EE and schedules appointment
• Agent enters BMA appointment date and time in APEX
• APEX provides agent with SIRVA‟s BMA instructions (48
hr return time; market time; must take photos)
Completing a BMA Referral in APEX
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
The BMA Process
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Agent Task #1 - Agent Sets BMA Appointment
>> Reminder: 4 hours
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Agent Task #1 - Agent Sets BMA Appointment
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Agent Task #1 - Agent Sets BMA Appointment
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
• Time drop down – has 15 minute
increments from 7 AM to 8 PM and
hour increments from 8 PM to 7
AM
Agent Task #1 - Agent Sets BMA Appointment
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Pop up appears once agent has entered date & time info
• If user clicks “Yes” pop up clears and user can continue
• If user clicks “No” date & time info clears and can re-enter
Agent Task #1 - Agent Sets BMA Appointment
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Agent Task #1 - BMA Appointment Instructions
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Agent
name is
hot linked
to agent
profile
Internal SIRVA View - View After Appt Entered
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
BMA Turn Time Requirement
Your BMA must be submitted within
48 hours
of your appointment with the transferee
(includes weekends and holidays)
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
• Agent receives an APEX task to complete
the BMA after the appointment date and
time has passed
• Agent completes ERC form in
APEX (identical to new ERC form)
• Agent uploads pictures into APEX
• Agent completes additional
questions in APEX (which
replaces SIRVA Addendum)
• Agent can complete these steps
in any order, but must complete
them all to finish the task
Agent Task #2 - Agent Completes BMA
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Agent Task #2 - Agent Completes BMA
>> Reminder: 4 hours
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Agent Task #2 - Agent Completes BMA
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
• Days for BMA
value is listed on
the left side above
“section” header
• Sections can be
completed in any
order, but all must
be completed prior
to task being
submitted
Agent Task #2 - Agent Completes BMA
Must also note the
market time with
pricing to match
assignment –
APEX will stop
you if entered
incorrectly
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
BMA Pricing
SIRVA has two standards when requesting BMA pricing
• 60 days – Fixed Fee
• 120 days – Traditional
Client policy may dictate a different requested time frame – please refer to
referral information for actual requested market time
Example
• Requested BMA Market Time = 60 Days
• Market Area: Anytown, MN
• Average marketing time in Anytown = 150 days
• Agent‟s most probable sales price based on 150 day marketing =
$210,000
• When considering that the property needs to sell in 60 days instead of
150 days, agent most probable sale‟s price may adjust to $195,000
• Most Probable Sales Price Submitted on ERC BMA Form = $195,000
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Other SIRVA BMA “Tips”
• Be accurate and truthful in your BMA
• Give careful consideration for timing and market conditions
• Do not rely solely on sale prices and list prices of comparables in determining a recommended list price.
• Understand how much marketing time is allowed the homeowner to achieve a sale and price the home to sell within that time.
• Do not “buy” the listing and then try to get price reductions two weeks later based on “new” market data. A good agent can read and analyze current market conditions and predict whether those trends are likely to continue over the subject‟s listing period.
• Conversely, do not be stubborn about the list price if a change in market conditions indicates a change in strategy is warranted.
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
• EE name and address are in
header on each page
• Text to advise that timeout
will occur after 45 minutes
• Form is identical to the ERC
form except there are no
signature fields on page 6 (no
signature required)
• Majority of fields are required
(including 3 list & 3 sold
comps) to prevent from
submitting blanks
Agent Task #2 - Agent Completes BMA
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
If agent clicks “Save” and any required fields are blank or there are
any validation errors, this message appears
• If user selects “Fix Later” they are returned to the main screen
where they can move to another section
Next time they select “edit” for this page, all data will be there
with the errors identified in red
• If user selects, “Fix Now” they remain on this screen and the
errors are identified in red
Agent Task #2 - Agent Completes BMA
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Errors are identified in two ways –
1. Marked in red on the screen itself (top shot)
2. In list form at the bottom of the shot
Agent Task #2 - Agent Completes BMA
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Note: The
section‟s
status will
change to
“complete”
and the red X
will change to
a green check
mark
Agent Task #2 - Agent Completes BMA
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
• User must
either select
they have no
photos to
upload (and
enter a reason
why) or upload
at least one
photo
• System will
accept many
formats, like
jpeg, tif, and
doc
Agent Task #2 - Agent Completes BMA
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
What user
sees if they
hover the
word “this”
example of a
browser
window as a
help
Agent Task #2 - Agent Completes BMA
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Agent Task #2 - Agent Completes BMA
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
• Once upload is
clicked, file name
appears under the label
“Previously uploaded
file(s)” so agents can
see what has already
uploaded
• They will get an error
msg if upload is not
successful and may
repeat the process or
select another file
• Note that “I don‟t have
any photos to upload”
has grayed out once
one file is uploaded
Agent Task #2 - Agent Completes BMA
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Section will mark as complete once a photo is uploaded
OR user marks none to upload and enters a reason
Agent Task #2 - Agent Completes BMA
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
•“Additional questions” replaces the
SIRVA addendum
• If user select a “potential area of
concern” then required comments field
appears
• For new construction &
REO/foreclosure, agent must mark that
subject is not competing with those types
of properties OR answer the 3 questions
about that type (location, price range and
number / condition)
• Agent must enter 3 strongest selling
features
• School rating description and rating for
subject only displayed if agent marks that
there is a rating system; fields are then
required
Agent Task #2 - Agent Completes BMA
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Some “COOL” Things In The BMA Form
Note that “Total Cost” field will auto sum as user enters dollar amounts
in “estimated cost” fields
Total field will auto sum as each “type” field is completed
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Agent Task #2 - Agent Completes BMA
Submission from Agent
directly to SIRVA
Email copied (.pdf) to
“Primary Listing Contact”
If broker‟s relocation
department must review
BMAs before coming to
SIRVA, they will need to
work out a process within
their organization
• “Primary Listing
Contact” cannot “see”
the BMA with their log-
in view
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
SIRVA Next Steps
If in variance…
• REC will call agent to review
submitted BMA
• Based on conversation, if agent
review is needed, Agent Task
#3 is completed
• Based on conversation, if agent
review is not needed, BMA
review is completed by REC,
reviewed by RC with EE
• No further APEX agent tasks
• Listing process outside APEX
If out of variance…
• REC will call agent to review
submitted BMA
• Based on conversation,
REC has three options:
•Proceed with review “as
is”
•Agent review requested
(Agent Task #3)
•Order a third BMA
(process starts over)
Once all ordered BMAs are submitted, APEX auto-calculates the
variance (based on the Most Probable Sales Prices)
Note: APEX will track the number of times an agent makes revisions to a BMA
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Agent Task #3 – Request Agent Review (if needed)
If any review of the BMA by the agent is needed after this
conversation, agent will be sent this email:
>> Reminder: 4 hours
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Agent Task #3 – Request Agent Review (if needed)
Review Submitted BMA Data for Meridith Bickel / 50011
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Agent can edit any section in any order but does not have to make
any changes to complete task
Agent Task #3 – Request Agent Review (if needed)
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Most recent data submitted
by agent will auto fill
Agent may edit anything
Agent selects one of the
buttons at the bottom to
close this page and return to
main screen:
“No Revisions Required”
OR
“Submit Revisions”
Agent Task #3 – Request Agent Review (if needed)
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Agent can edit any section in any order but does not have to make
any changes to complete task
Agent Task #3 – Request Agent Review (if needed)
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
The Listing & Marketing
Process
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Listing Agent Selection
Listing agent selection
• Transferee makes decision on what agent they want to list with from those who
have completed a BMA
• SIRVA informs both brokers of transferee‟s decision
• See „Declination Email‟ that will be sent through APEX
• Agents are still not to contact transferee about listing choice
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Listing Process
Listing process
• After broker is notified of transferee decision, listing paperwork will be
faxed/emailed to broker
• Read all instructions provided with listing paperwork
• Fixed Fee Home Sale Program will include SIRVA Listing Agreement
and all offer paperwork needed
• Cost Plus Home Sale Program will include listing agreement clauses
to be included in local listing agreement and all offer paperwork needed
(Please discuss any questions with SIRVA Relocation Counselor)
In order to get the property listed appropriately, you need
to know which home sale program (if any) the transferee
is being administered…
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
SIRVA Programs - Traditional vs. Fixed Fee
Traditional Home Sale Program • Client-directed home sale program (AVO/BVO)
• Client determines all facets of program
Eligibility
Timeline of program
BMA and appraisal process
Inspections and repairs
Buyout
Inventory management
• Client makes all decisions and determine own risk
Key points: • Transferee signs local listing agreement with agent (includes clause)
• Ownership transferred to client at sale (outside or buyout)
• Inventory management decisions made by client
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
SIRVA Programs - Traditional vs. Fixed Fee
Fixed Fee Home Sale Program • SIRVA Proprietary Program (AVX/BVX)
Value-add for client (managed risk program)
• SIRVA determines all facets of program
Eligibility
Timeline of program
BMA and appraisal process
Inspections and repairs
Buyout
Inventory management
• SIRVA makes all decisions and determines own risk
Key points:
• Transferee never signs local listing agreement with agent
• Agent and SIRVA sign SIRVA listing agreement
• SIRVA owns home upon listing
• Inventory management decisions made by SIRVA Risk Department
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
You got the listing…now what?
• The days of initially over-listing a property to “test” the market are gone in today‟s real estate markets.
• You suggested a Most Probable Sales Price in your BMA…remember that price and list to achieve the best price in the shortest amount of time.
• Data has proven that the lower your variance between the Most Probable Sales Price and the actual sales price, the more likely you are to sell that property before it goes into relocation inventory.
Consider…do you want to list the property OR do you want SELL the property?
The Marketing Strategy of the SIRVA-Team Agent should be “best-in-class.”
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Marketing the property to sell!
Photos • Use professional-grade photos
• Use multiple photos
• Photos of empty rooms for internet sites are not useful unless the photos show some kind of desirable architectural feature or tell a positive story about the house
• Utilize the comment section on MLS/Realtor.com/etc to use creative verbiage that pinpoints the specific buyer pool for the house
• Write a good narrative about the house; don‟t just give the minimum “fill in the blank” information
Open Houses (Broker/Agent & General)
• Use of broker/agent open houses should be with the intent of getting feedback about the house and pricing (Tip: offer a door prize in exchange for agent feedback)
• Provide food
• Be sure property is staged before all open houses
• If open houses are not effective in selling properties in your area, this may not be an effect marketing tool
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Marketing the property to sell!
Internet Tools/Advertising
• Strong internet presence on multiple, popular real estate websites, complete with narrative about the property
• Enhanced Version of Realtor.com
• Use of YouTube for Virtual Tours, I phones, I pads for home finding agents
• Facebook postings
• Brochure boxes in yards a must
• Door Knocking to neighbors letting them know home has been listed
• Direct Mail Pieces, 24-Hour Phone Number with Pre Recording about the home
• Email Campaigns
• High quality feature brochures for high-end or luxury properties
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Marketing the property to sell!
• Communication with the transferee and SIRVA is #1 priority
•Maintain pro-active communication with SIRVA and provide accurate, complete bi-weekly marketing reports on time
• Check on the subject at least once a week, in person, especially if vacant, and report anything that affects condition or marketability
• Advertise SIRVA Mortgage incentives
• Provide information to SIRVA on incentives that may help sell property
• Update SIRVA on any repair or updates that may be needed
• Update pricing as needed, suggest price reductions
•Communicate any price reduction suggestions to both SIRVA and transferee
•Understand the market conditions at all times, including unemployment rate, supply and demand, average marketing times, price trends, etc.
•It is important to work as a team when selling a transferee‟s home
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Market Activity Report
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Market Activity Report Process
The Market Activity Report (MAR) is the most important document in the
marketing process for SIRVA. This “Living BMA” informs SIRVA of what is
changing, what is needed next and what will it take to get a property sold
APEX has enhanced this process to make the submission and collection of
MARs more efficient and effective for both SIRVA and the listing agent.
What are the enhancements?
• The task to complete a SIRVA MAR has been automated
• Listing agents have the ability to complete MARs within the APEX system (similar
to the BMA process)
• APEX will pull data provided in the original BMA completed by the agent into the
MAR and then pull data from MAR to MAR to allow agents to make updates
instead of re-entering information every two weeks into a form
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Sample MAR Time Line
Day 1
Property
Listed
Day 12
MAR Task
Sent to
Listing
Agent
Day 14
MAR Task
Due
Day 26
MAR Task
Sent to
Listing
Agent
Day 28
MAR Task
Due
MAR Tasks
continue
every 12
days after
previous
submission
until property
is sold
MAR due within 2
calendar days
MAR due within 2
calendar days
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Notification of MAR Due
When a Market Activity Report task is sent, the Listing Agent
will receive this email (click link to access MAR task):
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Notification if MAR is overdue
If the MAR is not completed within 48 hours of receiving the MAR
Task Notification, the following email will go to the Listing Agent and
be copied to the „Primary Listing Referral Contact‟:
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Start MAR Task
Once you have clicked the link to access the Marketing Activity
Report Task in APEX (and logged into APEX), you will see a
task for the noted property in your APEX portal:
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Market Activity Report Main Screen
This screen looks very similar to the screen you would have seen when completing a BMA in the APEX system.
The MAR screen has the form broken down into sections, just as it would be if it were on a piece of paper: • Subject Property Information
• Listing Activity
• Broker Market Analysis Data Review
• Comparable Properties
• Market Data
• Strategy Information
• Upload Documents
All sections must be entered to complete report – see following pages for instructions on completing each section
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Subject Property Information
Review and update any information in this section as needed:
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Listing Activity
The last date you
submitted a MAR will
be displayed here
Complete showing
information since last
report (not since listed)
Complete Open
House Information
since last report
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Broker Market Analysis Data Review
• The three comparable listed properties you provided in your BMA will be displayed in this section. Update the information on each property each time you complete an MAR
• When a property either sells or goes off the market for another reason, you will no longer need to complete an update on that property
• Once all properties are either sold or off the market, you will no longer need to complete this section
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Comparable Properties
• This section will allow you to add comparable properties that have either been listed or sold since the property has been listed.
• These properties should be different than those used in your BMA
• You are required to provide 6 properties
• Comps must be 3 Active and 3 Closed properties
• The comparable properties you add will pull from MAR to MAR so you may just update the properties status, price, etc.
• You may add or delete properties at any time as well
• Square footage is not a required field
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Market Data
• This data pulls
from the original
BMA completed
• Review and
update as
needed
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Strategy Information
• This is one of the most
important sections of the MAR
• This section needs to be
completed in full for each MAR
• There are four subsections of
the „Strategy Information‟
section
• Most Likely Sales Price Update
• Reasons why property has not
sold
• Suggested Incentives and
Improvements
• Communication Plan
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Strategy Information – Suggested Incentives and Improvements
You can make recommendations in this section for what incentives or
improvements you think would help sell the property (If any incentives have been previously approved by SIRVA, you will see it listed and when it is
available until)
NOTE: If an incentive or improvement is approved by SIRVA, you will receive notification from SIRVA.
Do not offer an incentive or complete an improvement without written notification from SIRVA.
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Upload Documents
SIRVA requests that the following documents be uploaded with your MAR:
• MLS One-Liners
• Any new marketing materials
• Updated MLS sheet for subject or comparable properties
• Any other information you deem important to share with SIRVA
If you do not have any documents to upload, you need to check the box and note the reason you have no documents to upload
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Submitting your MAR
• All sections of the MAR must
be marked complete ( )
• Once all sections are marked
complete, you must click the
„Submit‟ button at the bottom
of the page
• Upon submission, the listing
agent and the „Primary
Listing Referral Contact‟ will
receive an email with a pdf
copy of the MAR attached
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Next MAR Task…
The next MAR task
will now be sent
12 days from this
submission day
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
The Offer Process
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Amended Offer Presented
•Present all offers from an outside buyer to transferee and
SIRVA
•Transferee negotiates terms, conditions and price
• With the assistance of SIRVA and agent
•Offer should never be signed by transferee
• Provide SIRVA Relocation offer paperwork to buyer‟s agent to
complete
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Offer Paperwork
SIRVA named as “Seller” (Transferee‟s name does not appear ANYWHERE in contract)
Clauses included in PA
SIRVA Rider
Page #2 must be initialed
Must be signed by buyer
SIRVA Property Disclosure, Lead paint and any other disclosures
Signed and dated
Initialed on each page
Closing Agent Selection Addendum (CASA) signed
Buyer needs to be qualified to purchase by SIRVA (even if lender letter is provided)
Must complete SIRVA Buyer Financial Qualification Form
SIRVA must have approval before signing
Provide lender letter stating “Income, assets and credit have been verified”
Copy of earnest money check (not actual check)
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
SIRVA Paperwork Example
SIRVA Rider SIRVA CASA
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Amended Offer
Best Practices SIRVA only signs one copy
• Either faxes/e-mail or original – not both!
• Contract not executed without SIRVA signature!
Do not allow buyers to do inspections pre-maturely
SIRVA needs to sign Contract of Sale with transferee before signing Purchase
Agreement
• TRANSFEREE SIGNS NO PAPERWORK!!
All paperwork required to be signed by buyers before submitted to SIRVA
•If buyer wants to change any language in paperwork – may need SIRVA legal review
•“Quick close” is best - No more than 90 day close
•Cash buyers need to “prove funds are available”
•SIRVA discloses all inspections
•Preferred closing at SIRVA specified location (CASA)
•Dual agency
• Generally not accepted, but may be approved by SIRVA with relocation department managing
process
• SIRVA needs to represented
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Amended Offer
Buyer Inspections
• All inspections disclosed to buyer
• Buyer has right to do inspections with
10 days of contract execution (see
Rider)
• Seller has “right to cure”
• May be cured by repair or credit
Buyer Financing
• Approval must not be sale contingent
Contingent upon close OK with
documentation and approval
• 10 days to provide written financing
approval
• SIRVA will try to provide financing
through SIRVA Mortgage, if cannot get
elsewhere
• Earnest money returned if no approval
Closing
• Closing between SIRVA and buyer
• Fixed Fee = SIRVA closes with
transferee three days before actual
close date
• Transferee does not attend closing
• Nothing survives close
General FYI‟s…
• No post-closing tenancy agreements
through SIRVA contract
• Need to create two separate
transactions for tax protection
• If negative equity situation,
transferee must pay SIRVA in order
to close
• If no clear title, SIRVA has right to
cancel contract
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
The Buyout Process
When an outside buyer does not present an offer within a certain time
frame, the „Buyout‟ process begins (only for program with a buyout
option)
The Guaranteed Purchase Offer Process
• Determines a “guaranteed purchase offer” (GPO) that is based on client policy
• Most common – Average of two independent appraisals
• This is transferee‟s “safety net”
• Transferee does not need to share with agent
• SIRVA will not share value with agent
• Time frame for accepting is based on client policy
• Once transferee accepts and closes with SIRVA, property goes into
“inventory”
• SIRVA reserves the right to change the listing broker or agent
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Departure Services – Inventory Management
Inventory Management Basics
• Goal: To sell the property in the shortest amount of time for the best price
• “Quick” listing switch
• Utility maintenance
Be timely with bill submission – no payment after closing
• Property maintenance
Repairs and improvements
• Marketing
• Contract/Closing Management
SIRVA Inventory Management Teams
• Fixed Fee (SIRVA-owned)
Team manages per SIRVA directive and approval
Teams managing by geography
• Traditional (client-owned)
Team manages per client direction and policy
Approval needs to come from client – may slow response time
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Inventory Management Wish List
Taking an Inventory Listing
• Assign an Inventory Relocation trained agent
• Complete a BMA within 5 business days of receiving the listing
Marketing
• Be our “Eyes and Ears” in the field
• Be timely with market updates
• Provide relevant market data pertaining to the local market
• Make suggestions for repairs/improvements – what is necessary to market home
• Have homework done and supply to support recommendation for suggested list price
reductions
Contracts/Offers
• Review required paperwork needed for offers before sending to SIRVA
• Be the Seller‟s advocate – negotiate strongly on our behalf
• Assist with a value when countering
• Make suggestions for what is necessary for buyer inspection repairs
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Module 2 Summary
• You should understand the expectations around a SIRVA BMA listing opportunity appointment including it is a one-step appointment, you should take interior and exterior photos of the property and you should refrain from discussing price
• The BMA should be submitted to SIRVA through the APEX system through the APEX system within 48 hours of your BMA appointment with the transferee
• Always be sure to understand the market time in which you need to provide pricing for on the BMA
• You should have an understanding of the difference between a SIRVA fixed fee and traditional relocation home sale listing
• After listing the property, you will be tasked to submit a Market Activity Report every two weeks
• Be sure to have all offer paperwork complete according to SIRVA‟s standards including a signed and initialed rider and CASA
Confidential Material – May not be used or distributed, in whole or in part, without the prior written consent of SIRVA Relocation
Please continue with Module 3 – Destination Services