You Are Either on the Train, On the Track or Left Behind: HAUS.com

By
Real Estate Agent with Big Block Realty 858.232.8722 CA BRE# 01261476
https://activerain.com/droplet/4TGG

You Are Either on the Train, On the Track or Left Behind:

Technology and in this case; HAUS.com

In Matri Steele Kilby's blog post today, Are the Windows in This New ‘Haus’ Too Transparent? 

she raises many concerns about Haus, the new open offer submission and acceptance platform. I shared these concerns last year too so I'm not disputing her concerns, nor those of the comments she got. I just took the time to really learn it and saw a lot of good in it too. My personal fears will not stop it anyhow, so I felt it best to understand it.

Some clarity: this is currently, in California only, with only legally approved addendums provided by Haus, blended with our usual CAR approved offer documents. There's nothing too tricky about a CAR addendum folks. Basically not much has changed in the paperwork or process. Also, this is only for the offer process, it goes"normal" after an offer is accepted. AND, Haus is an optional tool (well, until the day comes your seller says they want you to use it or else).

I, like many of you who commented on her post, resisted this at first, last September when they called on me to Beta test it. Several meetings and tests later-I've been a beta tester since September 2015 and I'm using it on my listings today; so far it's pretty awesome.

 

https://haus.com/how-it-works

 

It's an awesome tool for multiple offers, no more spreadsheets or printing out 15 offers and spreading them out on the conference room table. You set the minimum offer price, offer deadlines and hey guess what? You do not have to accept any of the offers if your seller doesn't like them; same as always.

It removes a lot of the suspicions that cause buyers to not move forward when they think the listing agent is blowing smoke (and if you are telling the truth as a listing agent, you've nothing to lose).

It does not allow the seller to do anything without you once you are in a listing contract with that seller- you are the conduit as the listing agent. Haus requires that sellers use listing agents, and currently does not support FSBOs.  

It does alert everyone on new offers which creates buyer urgency. So yes you know how many and what the basic terms are, which again causes buyers to self improve their offers.

It allows all to see the offers yes, so no more poker. But it creates auction anxiety, so lots of buyer activity and competitiveness-which always benefits the seller.

There are limitations of property types and circumstances: for example right now they are not supporting manufactured homes or bank sales, and a few more. 

You still collect your state approved offer forms. Your physical file doesn't change. It's simply redundant until an offer is accepted for the buyers agent, just like Equator is for a listing agent.

My broker, who is an attorney reviewed it all at my urging and is considering bringing it into our brokerage as an optional tool-at my request. There is still much to vet out and they are still improving it as feedback comes in. But, the technology train has left the station folks, you are either on board or on the tracks or left behind. Sellers are going to start asking for this and other "tech innovations," when they do, you can be in the know or competing with agents like me that are. 

By the way there are platforms like this out there now for landlords too, just like this for lease applications, credit & background checks; I'm on a beat test team for those too. 

FYI: I do not work for HAUS and I'm not paid a dime. I simply saw the positives out weighing the negatives and got on board as a beta tester and my sellers are loving the press this brings their listings! For more info, I can have my contacts Sarah & Michelle contact you direct, just let me know.  They would love your feedback and a chance to show you a demo.  Perhaps like me you'll end up a beta agent too.  

 

We have been getting some great press coverage - check out our recent articles:

 https://haus.com/faq

 

Posted by

REALTOR®, CRS, RCS-D, CDPE, ePro, Certified:Military Home Specialist,

Certified: Luxury Home Specialist Podcast Host, Author & Keynote Speaker

POSTCARDS FROM SUCCESS

Brokered by Big Block Realty

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Rainmaker
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Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

On the surface ... I like this. It will remove the opportunity for listing agent shenanigans.  Transparency is a good thing to a point.  The sense of urgency with buyers ... and openly competing may cause more buyer remorse.  I don't know. It's just too soon to know. Yet, I like it. 

Jul 30, 2016 01:22 AM #1
Rainmaker
1,238,121
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Thomas, thanks for this indepth review!  Great to hear from someone who is actually using this.  I do like the simplicity of having the offers readily viewable, but I really do not think the transparancy is good for the seller.  Here's why: today when there are multiple offers buyers "at or a little over list" a buyer may come in 10, 15 or 20 thousand over list.  If they can see that your offers are at list and 1 thousand over list, they will come in 2 thousand over list.  This in my view, is a big negative for my sellers!  It is not our office policy to give any parties exact knowledge of all the offers on the table.  This is based on best practices over the last 30 years.  Unless this service has the ability to mask that information and comply with our policies, we will not be using it.

 

Transparancy helps the buyer, but it does not help the seller.  Given the market where this company is based, I am not surprised that this concept arose for both homes and rentals.

Jul 30, 2016 05:04 AM #2
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Rainmaker
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Thomas J. Nelson, Realtor, ePRO, CRS, RCS-D

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