SIRVA Relocation Preferred Broker Network SIRVA-Team Agent ... SIRV… · •Average marketing time in Anytown = 150 days •Agent‟s most probable sales price based on 150 day marketing

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


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


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.


Departure Services Module 2


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


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


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!


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


• 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


The BMA Process


Agent Task #1 - Agent Sets BMA Appointment

>> Reminder: 4 hours






• Time drop down – has 15 minute

increments from 7 AM to 8 PM and

hour increments from 8 PM to 7

AM



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 - BMA Appointment Instructions


Agent

name is

hot linked

to agent

profile

Internal SIRVA View - View After Appt Entered


BMA Turn Time Requirement

Your BMA must be submitted within

48 hours

of your appointment with the transferee

(includes weekends and holidays)


• 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







• 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


Must also note the

market time with

pricing to match

assignment –

APEX will stop

you if entered

incorrectly


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


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.


• 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



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



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



Note: The

section‟s

status will

change to

“complete”

and the red X

will change to

a green check

mark



• 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



What user

sees if they

hover the

word “this”

example of a

browser

window as a

help





• 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



Section will mark as complete once a photo is uploaded

OR user marks none to upload and enters a reason



•“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



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



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


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


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:




Review Submitted BMA Data for Meridith Bickel / 50011


Agent can edit any section in any order but does not have to make

any changes to complete task



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 can edit any section in any order but does not have to make

any changes to complete task



The Listing & Marketing

Process


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


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…


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


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


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.”


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



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



• 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


Market Activity Report


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


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


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):


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‟:


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:


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


Subject Property Information

Review and update any information in this section as needed:


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


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


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


Market Data

• This data pulls

from the original

BMA completed

• Review and

update as

needed


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


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.


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


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


Next MAR Task…

The next MAR task

will now be sent

12 days from this

submission day


The Offer Process


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


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)


SIRVA Paperwork Example

SIRVA Rider SIRVA CASA


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


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


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


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


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


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


Please continue with Module 3 – Destination Services