By Tim Houghten
Putting More Power, Speed & Money in the Hands of Home Sellers and Investors
This could be HUGE for you…
It is no secret that there has been LOTS of room and need for disruption and increased efficiency in the real estate world. Yet, despite all the hype about digital mortgages, crowdfunding, Zillow, and crypto, nothing has really changed.
Sure, it’s easier to find a property listing online with your phone today. Maybe you can even sign the contract on your laptop. That’s been about it.
There have been a lot of well meaning techies wanting to help, but who don’t get real estate. Then a lot of real estate players wanting to do things better, who don’t get the technology side.
Enter Kent Clothier…
If you’ve been in real estate investing for 5 minutes you should have heard of Kent. He’s the guy who with his family has built and managed 4 companies on the Inc. 500, at the same time. That alone may be a world record.
Kent’s family’s company, Memphis Invest, des somewhere around 900 real estate flips a year. In other words, he’s not one of those gurus who bought and sold a couple houses in the 80s or in 2008 and thought he could write a book and crown himself a ‘guru’.
He’s known for developing some great real estate investing software, real estate training programs, hosting live events alongside people like Grant Cardone (the 10x guy) and his mastermind groups. He has created the 1-800-SELL-NOW, The REWW Academy, Real Market Experts and The SMART Suite System.
If you know Kent, you know he has a real handle on his why, and he isn’t the type to just sit back on his laurels. When he does something new, he does it with great partners, solid funding, top notch tech teams and specialists, and he has people watching the details around the clock.
The bottom line is that he knows his stuff, he cares about helping people get traction, he understands what the community needs and how to package it for them using the best technology (and humans) available.
We caught up with Kent just as he landed in San Francisco to help raise a truckload of money for what is hands down the most innovative nonprofit yet – charity: water.
He was incredibly generous in giving us an exclusive interview and breaking the news on his latest venture. One which could really make a difference for home sellers and real estate investors.
Challenges in the Real Estate Space
No matter which side of the table you are on, there are probably some things you’d like to change about the real estate transaction process.
For Home Sellers
The process of selling real estate is still hyper inefficient, costly and frustrating for homeowners.
First off, there are those huge real estate broker commissions. And, despite it often not taking any more work to sell a fabulous looking million dollar home than a $350,000 home, the system means you pay a lot more in commission. Equally, if you have a property that’s too cheap, then agents will often tack on a bunch of fees to make up the difference anyway. All that to often just hand off your property address to an assistant to put it on the MLS.
Fair compensation for a job well done, greater speed and eliminating liability is one thing. Yet, for all that agents get paid (and a few good ones are worth it), worse is that locking yourself into a year long listing agreement with an agent doesn’t even guarantee you a single prospective buyer, offer, or sale. How do you plan your life and finances around that?
During this time you are accruing a gang of holding costs that could include: Property taxes, insurances, maintenance, association dues, utilities, interest, principal mortgage payments, and maybe more.
Add that all up and you can be throwing away tens of thousands of dollars of your home equity, years of hard labor paying down the mortgage every month, or the only inheritance your family left you. Sad, but true.
Savvy home sellers get this. They know how to do the math. Though few really factor all of this in. So, more would like to simply go right to a cash paying, professional investor, and just get a deal done and over in a few days. Yet, until now this market has mostly been flooded with endless cheap websites, and newbies who run local Google Ads for a few weeks, and then disappear right before you need them.
For Investors & Buyers
Real estate investors and buyers face a lot of the same frustrations. Even if they have all cash and want to buy fast.
The biggest standout challenge is connecting with serious sellers. Finding those who aren’t burned out on junk marketing, getting to make them an offer, and just getting to sign purchase contracts. Kent says the average experienced investor who does the real math on their lead generation knows they are probably easily spending $3,500 to $5,000 a deal once they finally get one to the closing table. That’s okay, if they are making $50,000 on that property. Though they can bleed a lot more in drag time and dealing with the stress of gaps between deals.
Even once they get one under contract, then they get the pleasure of navigating the hyper-inefficient due diligence process. They’ve got to find a lot home inspector, get photos, have title done, and access a variety of fragmented records systems to know what they are really buying and how much it will really cost them.
There are thousands of real estate investors hungry for properties, it’s just a matter of fixing this disconnect and streamlining things.
Kribbz: Crushing it for Buyers & Sellers
This is where Kent Clothier’s Kribbz comes in!
Kribbz for Home Sellers
At Kribbz.com home sellers get a fresh new experience. It is a platform where they can list their home absolutely FREE.
Better than free, Kribbz sends out a representative who takes awesome photos and video for them, for free too. Kribbz does a ton of due diligence like having a professional home inspector come out to determine what repairs if any will need to be made by the new buyer. Then all the private and public data is pooled together online for the buyers.
No real estate agents do this. Not even for $100,000 in commission.
Then, when the property is put up on Kribbz, it kickstarts a 24 hour auction. Within 24 hours the seller will absolutely know for certain what their home is worth for cash in an immediate sale to a qualified buyer.
The seller isn’t even required to take the offer. So, they get all this, find out for sure what they can get for their home in the market, without all the Realtor commissions or showings. Deal done. Get on with your life.
Kribbz for Buyers
Kribbz kicks all wasted time and speculative expense on due diligence and marketing to the curb for buyers.
You see a property online. Make a cash offer. Win bids. Close ASAP.
Better yet, you get all of this prime info upfront. You get legitimate photos and video, an inspection report, and know the value and rehab costs right away. No guessing. No waiting weeks to find out if this is even a deal while your capital is tied up and your time is going down the tubes.
Kent says this can save buyers 95% of the time they care currently spending. Imagine how many more deals you could do, and how much more you could make, if you had 95% more time!
Plus, behind the scenes of this technology, Kent’s team has built it from the ground up with blockchain. While local municipalities still need to catch up, this is engineering what’s next. Ultimately Kent sees this unique technology bringing all the privacy of crypto to real estate, with all the transparency buyers need to instantly be able to evaluate properties and purchase them as easy as anything else online.
That will be awesome when it kicks in. Yet, right now buyers can use Kribbz to gain more time and profitability, while sellers can get insane value help in really selling their homes fast.
Kribbz expects to be national within 3 years. So, vendors like home inspectors who are reputable and can handle a high volume of business should reach out to the platform to apply to be preferred providers in new destinations as it expands.
Try it out for yourself now at Kribbz.com