Is there a cost for Property Owners to register on BuyItNext.com?

No, there is no cost to register as the current property owner on BuyItNext.com.   Important: Intentional misrepresentation of property ownership on BuyItNext.com will result in removal of user priviledges.

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What is a potential buyer interest questionnaire?

Potential buyers or agents with potential buyers who complete a buyer interest questionnaire will result in the generation of a notification to registered current owners or the current owner's registered last selling agent.  It does not provide any personal identification information about potential buyers.    

Important To Know  When the current owner is ready to sell the property, the status on BuyItNext.com must be changed by the registered current owner or the current owner's registered last selling agent.  Changing the property status from "Off-Market" to "Ready To Sell" will generate notifications to registered potential buyers to contact the registered current owner or the registered last selling agent.

Receipt of a ready-to-sell notification does not necessarily mean the property is being actively listed and marketed for sale!   

Also Important To Know:   The "Ready To Sell" notification to registered potential buyers does not contain property location information.   Potential buyers must contact the registered current owner or the current owner's registered last selling agent to obtain property location information.

Below are the potential buyer interest questions:

1. Are you working with a salesperson/broker at this time?  Yes or No
2. What type of buyer? First-time,  Investor, Second Home, etc.
3. Are you a cash buyer? Yes or No
4. If not a cash buyer, are you pre-qualified?  
5. How much has a lender told you that you're qualified for? $_____________
6. What is your buying time frame?  Within 3 months
Within 6 months
Within 9 Months
When the owner is ready to sell
7. Do your own or rent now? Own
8. How many months have you been looking? ____
9. If you find the right property, are you prepared to make a decision?  Yes or Not Sure
10. What price range have you been considering? $________   to $________
11. How many bedrooms? ____
12. What minimum square footage? ______ sq. ft.
13. Preferred method to be contacted?   Phone, Email, or Text 
14. Do you want your personal identity shared after the last selling agent certifies intent to sell?  Yes or No
15. Do you want to bid to enter into a Right Of First Offer Agreement?  Yes or No


 
Completing a buyer interest questionnaire, or bidding to hold the right of the first offer does not obligate potential buyers to make an offer of purchase or retain the services of a real estate agent not of their choosing.   

Registered potential buyers may update their questionnaire responses at any time.

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How is the current owner's last-selling agent able to help a current owner sell an off-market property?

Participating last-selling agents can discuss with current owners selling off-market and active listing options when they are ready to sell.  

Optional:   Last-selling agents can discuss with property owners the benefits of an Exclusive Rights To Solicit Offers Agreement.

Participating last-selling agents can share with the current owner(s) potential buyer interest questionnaire responses throughout the duration of ownership. 

When owners are ready to sell participating last-selling agents can sign in to BuyItNext.com and change property status from "Off Market" to "Ready To Sell" to generate notifications to potential buyers.  

Important:  BuyItNext.com does not disclose "ready to sell" property location information with Potential Buyers.    A registered property owner or the current owner's registered last selling agent decides when property location information is to be shared with registered potential buyers.

Registered last-selling agents can discuss buying opportunities. with potential buyers, compare and present offers.

 


How does it work for current owners without a last selling agent registered on BuyItNext.com?

Step 1.   Sign Up on BuyItNext.com as a current owner. 

Step 2.  Search your property address and subscribe for FREE on each property you currently own.

Step 3.   Receive notifications of registered potential buyer interest throughout your duration of ownership.  

Step 4.   Sign in to review potential buyer interest questionnaire(s) responses.  Important: BuyItNext.com does not share personal identity information (PII) of registered potential buyers.  

Step 5.  When ready to sell, sign in to BuyItNext.com and change property status from "Off-Market" to "Ready-to-Sell", which will generate notifications to all registered potential buyers.  Registered potential buyers are instructed to contact current owners to discuss opportunities.  Important:   BuyItNext.com does not share with potential buyers the location of ready-to-sell properties. 

Step 6.  Respond to potential buyers interested in discussing opportunities to buy your property.   

Important:   Both parties should consider retaining the services of an experienced real estate broker/ agent to assist with the real estate transaction. 

Who is qualified to be a trusted off-market property advisor on BuyItNext.com?

An off-market property advisor on BuyItNext.com is a licensed real estate professional (e.g., broker, broker associate, agent, team leader) who wants to help unrepresented potential buyers connect with unrepresented property owners before a property is listed for sale. Off-market property advisors may also reach out to the current owner's last selling agent if registered on BuyItNext.com.

BuyItNext.com requires each off-market advisor to:

1. Be an actively licensed real estate professional with a minimum of 5 years of real estate experience.

2. Be registered on BuyItNext.com as a last-selling agent on the properties they helped current owners buy and hope to sell in the future.

3. Inform stakeholders (sellers, buyers, lenders, etc.) of the benefits, opportunities, and challenges of off-market transactions.

4. Be advocates in their local market for licensed last-selling agents to participate on BuyItNext.com

5. Comply with the Fair Housing Act and their local MLS Clear Cooperation Policies.

6. Stay ahead of the most current local market trends.

7. Understand the nuances affecting value from one block to the next.

8. Educate consumers on the benefits, opportunities, and challenges of off-market transactions.

9. Utilizes industry leading technology in support of meeting consumer demands

10. Continuously exhibits the many positive traits of a trusted advisor listed below:

- Seems to understand sellers and buyers effortlessly
- Are consistently professional
- Always helps see things from a fresh perspective
- Doesn't try to force things
- Helps think things through
- Separates logic from emotion
- Informs and shares their experiences
- Is in the real estate profession for the long haul
- Gives reasoning, not just their conclusions
- Give options, increases understanding of those options, gives their recommendations, and allows for choices
- Acts like a real person, not someone in a role
- Is reliably on thier client's side and always seems to have theit interests at heart
- Is always honorable

For Property Owners:
Licensed off-market property advisors understand the off-market selling opportunities, values, trends,  and inventory levels for each specific neighborhood, along with having a sound strategy for marketing, negotiating, and dealing with multiple offers from potential buyers, which are key factors to optimizing the final sales price.


For Potential Buyers:

Licensed off-market advisors develop a connected network and hyper-local market knowledge base that allows them to often learn of properties coming to the market before they hit the MLS. This puts registered potential buyers at a distinct advantage of being able to put in an offer ahead of the competition.

How can last-selling agents enhance their value to current owners of off-market properties and potential buyers?

Property owners for a variety of reasons, without obligation to market or sell their property, may want to enter into an Exclusive Right To Facilitate Off Market Offers agreement that designates a trusted advisor - like their last selling agent or a local off-market property advisor, to be the single point of contact for the limited purpose of handling unsolicited offers throughout the property owner's lifespan of ownership. 

A single point of contact can also provide support to property owners wanting to grant a potential buyer a right of first offer.  Learn more here.


Last-selling agent online visibility allows last-selling agents to establish brand control and connect with potential buyers throughout the duration of property ownership, which helps current owners when they're ready to sell.   Below are the benefits last selling agents provide current owners and potential buyers.  

Last Selling Agent Value Propostion Current Owners  Potential Buyers
• Provider of Local Market Trend Reports. •   • 
• Assist current owners with personal safety by removing the prior owner's personal property images from websites like Zillow.com, Trulia.com, Realtor.com, and more. •   
•  With owner approval, upload white-labeled floor plans on BuyItNext.com to help potential buyers remember the home’s layout and property flow.  • 
• Review potential buyer interest questionnaire responses, including bids for the right of first offer with the current owner throughout the duration of ownership. •   • 
• Provide consumers with hyper-local market trend reports. •    •  
• Assist potential buyers with the purchase of other properties where they want to live, and potentially with the sale of their existing property.    • 
• Facilitate authorized sharing of information on behalf of current owners with potential buyers interested in purchasing off-market properties when current owners are getting ready to sell.      •   • 
• Facilitate, compare and present offers from potential buyers.    •  • 
• When authorized by law - facilitate off-market transactions on behalf of one or both parties before a property is actively listed for sale.  Learn more here... •  • 
• Facilitate marketing of property if actively listed for sale  •   • 

What is a transaction broker, also known as an intermediary or facilitator?

Property owners who have prior home purchase and sale experiences may be inclined to use a transaction broker (aka intermediary or facilitator) to play a neutral, non-fiduciary role in facilitating the transaction on behalf of both parties. In general, intermediaries must adhere to the following guidelines:

  • Must treat all parties to the transaction impartially and fairly.
  • May, with the parties' written consent, appoint a different license holder associated with the broker to each party (owner and buyer) to communicate with, provide opinions and advice to, and conduct the instructions of each party to the transaction.
  • Must not, unless specifically authorized in writing to do so by the party, disclose:
    • that the owner will accept a price less than the written asking price.
    • that the buyer/tenant will pay a price greater than the price submitted in a written offer; and
    • any confidential information or any other information that a party specifically instructs the broker in writing not to disclose, unless required to do so by law.
  • Important:  Terminology to describe two-party representation may vary by state. Specific guidelines for brokers/agents regarding two-party representation may also vary by state.

 Contact a real estate professional for more information.

What is an "Exclusive Right To Facilitate Off Market Offers Agreement"?

The model document - Exclusive Right To Facilitate Off Market Offers Agreement - can be used by property owners and their choice of real estate professionals to establish a Single Point Of Contact for the purposes of receiving, comparing, and presenting offers from potential buyers throughout the duration of ownership without actively listing and marketing the property for sale. 

Important:  Owners who want to avoid dealing with unsolicited offers can reduce unwanted contact by employing the following strategies:

  • Add your phone number to the Do Not Call Registry

  • Block unwanted calls and texts on your cell phone. Utilize the built-in call screening capabilities on your phone, such as the ability to block calls from unknown sources.

  • Request that businesses who contact you takes your information off their mailing and phone lists.

  • Take your address off mailing lists for direct mail.  Sign up for the Data & Marketing Association’s marketing list opt-out service.

  • Request a trusted real estate agent to be the Single Point of Contact for potential buyer inquiries on BuyItNext.com.      

 

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