Finance
February 2, 2024
Instead of extending a loan, EasyKnock buys the house and rents it back to the homeowner, providing them with the cash they need and a lease to remain in the home.
With EasyKnock’s lease-to-own home program, ReLease, you don’t have to leave the home you love. Instead, you get to remain as a tenant for as long as you’d like.
EasyKnock offers two programs called MoveAbility and Sell & Stay. Both options provide homeowners with a quick way to convert their equity to cash, but without the need to move. Homeowners who take advantage of these programs only need to pay market rent — EasyKnock takes care of the property taxes and homeowner’s insurance.
These programs don’t just help homeowners. They can also help real estate agents to obtain more clients and get more listings. If you’re a realtor, here’s what you need to know.
How EasyKnock for Agents Works
As a real estate agent, you want to help your clients achieve their objectives. With more and more homeowners facing financial hardships, bank rejections, and other hurdles, you might be wondering what more you can do to help.
Partnering with EasyKnock offers a unique solution. With sale-leaseback options, you can help your client overcome the obstacles standing in the way of their goals.
You can win your next listing pitch by removing home-sale contingencies with our MoveAbility program. On the other hand, if you have clients who want to reach specific financial targets and aren’t quite ready to sell and move, you can offer a longer-term sale-leaseback option with Sell & Stay.
The Benefits of EasyKnock for Agents
Here are some of the terrific benefits for agents who partner with EasyKnock:
1. Provide Your Clients With Greater Flexibility
Not all clients selling their homes want to move right away. EasyKnock’s programs enable you to offer your clients a solution that fits their timeline and provides them with quick access to the equity in their homes.
2. Get Exclusive Full Commission Listings
When your client decides to move, you get a guaranteed 6-month exclusive at the full market commission no matter what program they choose.
3. Earn Instant Commission Upon Closing
You earn an instant commission when EasyKnock buys a home and closes on a transaction with your client.
EasyKnock’s MoveAbility
Let’s say you have a client looking to move, but they need to perform some home upgrades first. Or, maybe they want to move, but they don’t have the funds they need for a down payment.
As an EasyKnock partner, you can offer them the MoveAbility program, which provides your client with an immediate way to convert the equity in their home to cash.
They remain as a tenant until they finish their repairs or find their next home. Once they’re ready to move, you’ll work with them to get their current home sold on the market.
How MoveAbility Works
If you have a client who wants to move but isn’t quite ready yet, refer them to EasyKnock.
EasyKnock then works with your client to create a customized offer that pays them up to 75% of their home’s value. The best part for your client is that there’s no rush to move. They have 12 months to figure out their next steps.
After signing the sale, purchase, and lease agreements, your client receives the money from the closing, and you receive an instant 1% commission. You also get a 6-month exclusive listing.
After signing the agreements, you work with your client according to their schedule in order to sell their home on the market. Once it sells, you then receive the remaining commission. Your client also collects any remaining home value.
Benefits of EasyKnock MoveAbility for Agents
EasyKnock’s MoveAbility program provides real estate agents like you with many benefits:
1. Get Clients the Equity They Need for Home Repairs
If you have a listing that needs some repairs before it goes up for sale, the MoveAbility program furnishes your client with the money they need to complete them. Even a few minor fixes can influence whether a property sits on the market or sells quickly.
2. Make It Easier for Clients to Buy Their Next Home
The MoveAbility program provides your clients with a way to convert the equity that they have paid into their homes to cash. They can use these funds to pay down debts, thereby reducing their debt-to-income ratio. The MoveAbility program also clears them of their current mortgage.
Collectively, these factors will make it easier for them to qualify for their next home.
3. Eliminate Home-Sale Contingencies
The MoveAbility program eliminates home-sale contingencies.
Your client receives up to 75% of the market value of their home right away, which they can then use as a down payment on their new home. They no longer have to worry about selling their current home prior to shopping for and purchasing their next one.
EasyKnock’s Sell & Stay
The Sell & Stay program offers homeowners a long-term sale-leaseback solution. They receive up to 75% of the value of their home immediately and then have the option to either repurchase or move at any point in the future.
If they decide to move, they collect their remaining equity as well as any appreciation earned in the interim.
When you refer your client to EasyKnock’s Sell & Stay program, you receive a 2% commission upon the closing. You also get a guaranteed listing contract at market commission if your client decides to sell their home at any time in the future.
EasyKnock’s ReLease Program
EasyKnock also offers a ReLease program, which is similar to Sell & Stay.
One of the biggest differences here is that your client can receive up to 100% of their home’s value instead of 75%. However, they do not have the option to repurchase their home in the future and they do not collect any appreciation. They can still move, but there is a minimum lease term of 24 months.
With the Release program, you still receive a 2% commission upon the closing of the sale-leaseback and receive a guaranteed listing contract if the client decides to move later.
Benefits of EasyKnock’s Sell & Stay for Agents
Akin to the MoveAbility program, EasyKnock’s Sell & Stay program provides your clients with quick access to the equity in their homes.
If you have a client who wants to list a house in need of major repairs, the Sell & Stay program offers them the flexibility and the funds to complete those renovations. Both you and your client will then benefit from the appreciation.
Sell & Stay, like MoveAbility, also makes it easier for clients to qualify for their next house. With access to the equity in their home and no existing mortgage tying them down, they can pay down existing debts and reduce their debt-to-income ratio.
The best part is, there’s no rush — plus you earn an additional commission when they decide to move.
Key Takeaways
EasyKnock isn’t just for homeowners. It offers some unique benefits for real estate agents, too.
With EasyKnock’s programs, you can provide your clients with something that other agents can’t — the ability to convert the equity in their homes before those homes go on the market.
These programs also offer greater flexibility, enabling your clients to do things on their own terms. For more information about partnering with EasyKnock, contact us today.
