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Inman Publishes Article on JPAR iBuyer Program

Inman Publishes Article on JPAR iBuyer Program

By: JIM DALRYMIRE || Staff Writer with Inman 

JPAR Instant Offers is designed to be as convenient as an iBuyer but casts Texas brokerage JP & Associates as a facilitator of deals rather than a purchaser of properties

Jim Dalrymple II
Interesting article:
They say everything’s bigger in Texas, and that’s apparently true when it comes to iBuying competition: Frisco, Texas-based brokerage JP & Associates Realtors formally announced Tuesday it has teamed up with a tech company to launch an agent-centric cash offer program.

JPAR Instant Offers is being billed as an iBuyer, though it differs from the type of instant cash offer programs that other, bigger companies have built. Would-be sellers can go online and get an immediate rough offer for their property. Within 24 hours, a JP & Associates representative will come out and visit the home to confirm its value and discuss options with the seller. The property owner can then opt to sell their home the traditional way and have it show up on multiple listing services or proceed with the cash option.

Sellers who opt for cash should have their finalized, official offer within another 24 to 48 hours.

J.P. Piccinini
“We give you the closing that you want,” J.P. Piccinini, founder and owner of JP & Associates, told Inman.

Up to this point, the program resembles other iBuyers, which generally tout the ease and speed of a cash offer. However, what sets JPAR Instant Offers apart is the source of its offers; while major players like Opendoor and Zillow buy properties on their own, JP & Associates sources its offers from third party investors.

“Focus on what you love to do.”
“We’re nothing more than a facilitator connecting the seller with the potential buyer, the investor,” Piccinini said. “We have buyers across the United States.”

Piccinini explained that his company has built a stable of “thousands” of potential investors that includes past clients, hedge funds, home flippers, rental property owners and others. After a seller chooses to proceed with a cash offer, the property goes to a kind of internal, digital marketplace that only JP & Associates agents can view. Those agents can then broadcast listings seeking cash offers to investors.

JP & Associates agents handling instant offer deals are paid by the sellers. Piccinini said that agents can work out their own payment arrangements with sellers, and can opt to receive anything from a flat fee to a traditional commission.

The system has only been live for about a week, but Piccinini said that he expects the response time from investors to be “hours.” He also said that the cash offers will tend to be about 10 percent less than what sellers might have received on the open market, which some people are willing to accept in exchange for greater convenience.

JPAR Instant Offers’ unique setup has a handful of ramifications. For one thing, all the offers that go through the program are handled by a JP & Associates agent, unlike conventional iBuyers, which in some cases are willing to work both with agents or with sellers directly.

Some iBuying programs such as Coldwell Banker’s cataLIST, Keller Williams’ Keller Offers and Redfin Now also rely on agents to guide customers through the transaction process. Many such programs are still relatively new, however, and it remains to be seen how they may fair against now-entrenched disruptors like Opendoor.

Involving outside investors also frees JPAR Instant Offers from the price and property type constraints that other cash offer firms face. Companies like Opendoor and Offerpad, for example, have tended to only buy mid-priced, relatively modern tract homes concentrated in places like Arizona and Texas.

JPAR Instant Offers, on the other hand, has no price constraints and can work with sellers in any of the seven (and soon to be more) states where the company has offices and franchises. According to Piccinini, that’s possible thanks to the diverse list of investors that JP & Associates has compiled; while hedge funds might only be interested in the same types of properties iBuyers want, home flippers or rental investors may be looking for something entirely different.

“We have a very, very large pool of buyers,” Piccinini added, “A very diverse pool of investors.”

JP & Associates isn’t the only independent firm to start an iBuyer. Late last year, Broker Anthony Lamacchia launched Offer Now as part of his company Lamacchia Development. Lamacchia told Inman in March that he started the cash offer program in response to companies like Opendoor, Zillow and Redfin.

Seen together, all of these programs illustrate how widely the appetite for iBuying has spread in the industry.

JP & Associates has teamed up with technology company OfferAI to run the JPAR Instant Offers system. OfferAI first launched last year and created a way for property owners to sell quickly to investors.

In an email to Inman, OfferAI founder and CEO Jack Burns said the JPAR Instant Offers program will “give sellers fiduciary representation throughout the iBuyer experience.” In the future, the partnership will also let JP & Associates set up their own websites and market themselves as iBuyers, Burns said. That program is currently being beta tested, and it will eventually become available to agents at other brokerages as well.

OfferAI charges an administrative fee on the transactions it facilitates for JP & Associates. The company is independent of JP & Associates, though the brokerage’s parent Vesuvius has invested in OfferAI.

News of JPAR Instant Offers was first reported by CandysDirt.com.

A number of companies including Opendoor, Zillow and Redfin have been aggressively expanding their own cash offer programs. Though these companies’ strategies vary, at least some of the bigger players clearly see the value of iBuying as a tool for generating leads. During a recent earnings call, for example, Redfin CEO Glenn Kelman said that his company’s cash offers are usually rejected but the iBuyer program is nevertheless important.

Piccinini said that JPAR Instant Offers will serve a similar function, with the program’s greatest value being its ability to start conversations with potential sellers. Ultimately, he said he would “be surprised” if cash offers ever accounted for more than 3 percent of his firm’s business.

Competition among iBuyers is also shaping up to be particularly fierce on JP & Associates home turf. Not only are established players like Opendoor and Offerpad operating in Texas, but Keller Williams announced last week that it plans to go live with its iBuyer program in May. That program will launch in the Dallas area — the metro region with the most JP & Associates offices.

Piccinini, however, said that he is not concerned about competition with other iBuyer companies. Cash offers still account for only a small percentage of deals, he explained, and in any case he express confidence that his company could win market share away from its rivals.

“What they’ve done is they’ve paved the road for us,” he said. “I think if anything they ought to be concerned about us.”

Source: https://www.inman.com/2019/05/01/indie-brokerage-launches-unconventional-ibuyer-program/

 

 

Episode 58: Success From Scratch

Episode 58: Success From Scratch

On this episode of Success from Scratch Mark sits down with REALTOR® extraordinaire Karan Wethington from the DFW marketplace. She has been in the business for 21 years and has seen and survived in virtually every type of market condition there is.

Karan talks about the turning point in her career: when she stopped flying solo and decided to create a team! Today’s episode will also focus on team values and how to make the best of your most valued resource: your time.

Now available on the go: listen to inspirational stories on all podcast platforms including Apple Podcasts, Google Play, Spotify, just search ‘Success from Scratch’ anywhere you listen to your favorite podcasts.

 

 

 

Tired Of Not Getting What You Want?

Tired Of Not Getting What You Want?

Ever wonder why so many of us have to hit rock bottom before we find a breakthrough?

Let me explain… from working with others I’ve discovered a pattern. Typically after a huge disappointment, fear of failure disappears. When fear of failure disappears taking a positive action becomes easier, yes!?

Once a major low is hit, the realization that any action that is taken must lead to something better. Think about that for a moment… “any positive action taken leads to something better!” Make sense?

The Problem.

Waiting for a major breakdown to get to a breakthrough.

  • Maybe you’re satisfied with mediocrity?
  • Maybe you believe you will fail and subject to the opinion of others? 
  • Maybe you are addicted to worry; the past or to drama?
  • Maybe you let overwhelm and distractions get in the way instead of taking the next right action.
  • Maybe you succumb too often to those 5 words that kill more dreams than any other: “I don’t feel like it!”

For the vast majority of folks I’ve worked with, the answer to the question, “why don’t you do what you have to do to get what you want?” Can be summarized in 5 dream killing words:

I don’t feel like it!

And that feeling stops you from taking positive action, keeps you from being consistent. It’s the one reason you’re not getting what you want. Your feelings overpower your commitment. Your feelings overpower your ability to take positive action.

The Solution.

Act opposite your feelings.

The story of Mario Lemieux:

There are many athletes who have played through or returned from life-threatening illnesses. Others have come back from debilitating injuries that would have forced mere mortals to give the game up.

And then there is Mario Lemieux, who not only suffered from Hodgkin’s lymphoma but also endured chronic back pain throughout his career.

With his puck-handling dexterity, long reach and accurate shot, Lemieux won three Most Valuable Player awards in the NHL and six times was its leading scorer.

Lemieux is the only player to average more than two points a game (2.01). His goal-scoring percentage of .823 (613 goals in 745 games) is the best for players with 150 games.

I know there where many times Mario “didn’t feel like it” yet his commitment was greater than his feelings.

When your commitments overpower your feelings that’s when breakthroughs begin.

When you take action despite your feelings that’s when breakthroughs begin.

So whose in charge YOU or your feelings?

Episode 57: Success From Scratch

Episode 57: Success From Scratch

On this week’s episode of Success from Scratch, ​Christopher Garcia​ talks about how he is making a difference in Austin’s saturated Housing Market. Mark and Christopher also discuss how to leave your mark by staying focused and being intentional (yet holistic) about each client interaction.

Now available on the go: listen to inspirational stories on all podcast platforms including Apple Podcasts, Google Play, Spotify, just search ‘Success from Scratch’ anywhere you listen to your favorite podcasts.

 

Fundamentals First

Fundamentals First

Nearly everything can be boiled down to some core task, some essential component, that must be mastered if you truly want to be good at it.

Vince Lombardi… one of the greatest sports coaches of all time approached the sport from a perspective of “fundamentals first.”

John Wooden and Phil Jackson – other amazing coaches – were known for having a similar obsession with the fundamentals. Wooden even went so far as to teach his players at the start of each season how to put on their socks and tie their shoes. These are professional athletes at the highest level of performance. His objective – care for the players and reduce the variety of minor injuries.

Gentlemen… this is a football!

Lombardi and team took nothing for granted. They began a tradition of starting from scratch, assuming that the players were blank slates who carried over no knowledge from the year before… they began with the most elemental statement of all: “Gentlemen,” he said, holding a pigskin in his right hand, “this is a football.” Each player reviewed how to block and tackle. They opened up the playbook and started from page one. And they won more than any other team.

Aren’t you glad pilots have checklists? Even after hours and hours of detailed training and years and years of practical experience before every takeoff, before every landing and during every flight pilots & crew follow a #checklist.

Checklists are “job aids” to reduce failure… to reduce variation in a process. A method of leaving nothing to chance.

Checklists ensure you get your daily, weekly and monthly tasks done on time, helps you keep track of projects on deadline and ensures you’re organized throughout the day.

Are you leaving your goals, your business to run by chance by “winging it?”

Mastery in nearly any endeavor is the result of deeply understanding simple ideas.

Episode 56: Success From Scratch

Episode 56: Success From Scratch

Christina Nardi is this week’s Success from Scratch featured Realtor. Her own home building process is what sparked her passion for Real Estate – so much so that it triggered her career change!

Looking back, Christina acknowledges that getting her business off the ground was the hardest thing she had to endure but today she’s found the best way to lead the charge! Tune in for some insider tips!

Now available on the go: listen to inspirational stories on all podcast platforms including Apple Podcasts, Google Play, Spotify, just search ‘Success from Scratch’ anywhere you listen to your favorite podcasts.

 

 

 

What Would Happen If You Never Tolerated Inaction In Yourself?

What Would Happen If You Never Tolerated Inaction In Yourself?

What would happen if you never tolerated inaction in yourself? Think about that for a moment, what would happen if you never tolerated inaction in yourself?

From the book, Atomic Habits, there is a common mistake that often happens to too many of us. The mistake has to do with the difference between being in motion and taking action. They sound similar, but they’re not the same.

When you’re in motion, you’re planning and strategizing and learning. Those are all good things, but they don’t produce a result. Action, on the other hand, is the type of behavior that will deliver an outcome.

Here’s a couple of practical examples:
  • If I outline 20 ideas for articles I want to write, that’s motion. If I actually write and publish an article, that’s action.
  • If I email 10 new leads for my business and start conversations with them, that’s motion. When I actually set an appointment that’s action.
  • If I search for a better diet plan and read a few books on the topic, that’s motion. If I actually eat a healthy meal, that’s action.

Sometimes motion is useful, yet it will never produce an outcome by itself. It doesn’t matter how many times you go talk to the personal trainer, that motion will never get you in shape. Only the action of working out will get the result you’re looking to achieve.

If motion doesn’t lead to results, why do we do it?

Sometimes we do it because we actually need to plan or learn more. But more often than not, we do it because motion allows us to feel like we’re making progress without running the risk of failure. Most of us are experts at avoiding criticism. It doesn’t feel good to fail or to be judged publicly, so we tend to avoid situations where that might happen. And that’s the biggest reason why you slip into motion rather than taking action: you want to delay failure.

It’s easy to be in motion and convince yourself that you’re still making progress. You think, “I’ve got conversations going with four potential clients right now. This is good. We’re moving in the right direction.” Motion makes you feel like you’re getting things done. But really, you’re just preparing to get something done. When preparation becomes a form of procrastination, you need to change something. You don’t want to merely be planning. You want to be practicing.

TRYceratops VS DOceratops

Some ideas to get out of motion and into action:
  1. Work expands to the time you give it: Set a specific time for each task.
  2. Set a schedule for your actions: Basic time blocking.
  3. Pick a date to shift you from motion to action: set hard deadlines.
  4. Ignore, switch your feelings: “I don’t feel like it” to “Let’s get this done!”

For some goals, setting a daily or weekly schedule doesn’t work as well. This is the case if you’re doing something that is only going to happen once: studying for your broker exam or getting your GRI. These things require some planning up front (motion). They also require plenty of action to complete them. For example, you could set a schedule each week to study. In a situation like this, research shows it’s best to simply pick a date. Put something on the calendar – like the test date. Make it public. This is when X is happening. In other words, set a HARD DEADLINE.

Research shows that people who make a specific plan for when and where they will perform a new habit are more likely to follow through. Too many people try to change their habits without these basic details figured out. We tell ourselves, “I’m going to eat healthier” or “I’m going to write more,” but we never say when and where these habits are going to happen. We leave it up to chance and hope that we will “just remember to do it” or feel motivated at the right time.

Hope is not a strategy!

An implementation intention sweeps away foggy notions like “I want to work out more” or “I want to be more productive” or “I should vote” and transforms them into a concrete plan of action.

Many people think they lack motivation when what they really lack is clarity.

One simple way to apply this strategy to your habits is to fill out this sentence:

I will [BEHAVIOR] at [TIME] in [LOCATION]
  • I will follow up with 4 leads a day for 30 minutes at 9 a.m. in my office.
  • I will complete part 1 of my project investing twenty minutes at 10 a.m. in my office.
  • I will exercise for one hour at 5 p.m. at my gym.
  • I will make my wife a cup of tea at 7 a.m. each morning in the kitchen.

Give your habits a time and a space. The goal is to make the time and location so obvious that, with enough repetition, you get an urge to do the right thing at the right time, even if you can’t say why.

To put it simply: planning out when and where you will perform a specific behavior turns your environment into a trigger for action. The time and place triggers your behavior, not your level of motivation.

Motivation is short lived and doesn’t lead to consistent action. If you want to achieve your goals, then you need a plan for exactly when and how you’re going to execute on them regardless of how you feel.

There are some lessons that only #failure can teach. Failure is not the problem… inaction is… procrastination is.

Let’s commit this week to move from motion to action.

#WinTheDay

 

Episode 55: Success From Scratch

Episode 55: Success From Scratch

Don’t be stubborn, don’t be an island. That’s Elise Sessions’ motto.

On this episode, Elise touches on the power of Real Estate in bringing people together, and how going the extra mile will provide unexpected positive outcomes!

Elise also talks about how it’s not ‘about the leads but about the experience’ and follow up with prospective clients that matter.

Now available on the go: listen to inspirational stories on all podcast platforms including Apple Podcasts, Google Play, Spotify, just search ‘Success from Scratch’ anywhere you listen to your favorite podcasts.

 

3 Steps to Mastery

3 Steps to Mastery

Who doesn’t want to be a better agent, better team leader, a better entrepreneur?

If there is one concept that can lead to more powerful performance with immediate impact… this is it:

It’s difficult to control our thoughts and feelings, yet we have total control of our actions.

Here’s what we know:

  • Actions change attitudes
  • Motions change emotions
  • Movement changes moods

Think about… it is much easier to act yourself into a certain way of feeling than to feel your way into a certain way of acting.  This may sound counter-intuitive research over and over as proven the shortest, most reliable way to change how you’re feeling is to change what you’re doing. When you feel bad, don’t wait to feel good to do what you love. Start doing what you love.

My friend and business coach, Tom Ferry and life coach Tony Robbins both have a beautiful way of describing the steps to mastery in just about anything:

  • MINDSET, MODELS & MARKETING. Model something or someone who’s already achieved what you want. You can literally compress years into days by having the right model. I call it the 3 M’s of success: mindset, models and marketing.
  • TOTAL IMMERSION. You have to totally immerse yourself into the thing you are trying to master.
  • SPACED REPETITION. You need repetition. It is only by repetition that you can condition yourself properly and one day become a master at something. This is like our real estate playbook – designed to create 4 new transactions – inside your 5-week course and our annual September March To Greatness campaign.

My acquaintance Dr. Rob Gilbert says it another way. “If you really want to be a champion, then the work is no problem. When your commitment is greater than your feelings, you’ll master whatever you desire.”

Who is in charge, you or your feelings?

If you really want to learn about mastery, I recommend George Leonard’s book called: Mastery.

 

 

JP & Associates REALTORS® Named in Top 50 Brokerages by REAL TRENDS 500

JP & Associates REALTORS® Named in Top 50 Brokerages by REAL TRENDS 500

“I am incredibly proud of our agents and staff,” said Giuseppe ‘JP’ Piccinini, Founder/President of JP & Associates REALTORS®. “Their commitment to exceeding expectations in an ever changing and evolving industry is the reason JP & Associates REALTORS® now ranks among the top 50 brokerages in the United States.”

Respected as a premier source of residential brokerage news and analysis, REAL Trends recently published their top 500 list of brokerages in the US, naming JP & Associates REALTORS® as the top 50th residential brokerage for 2018 closed transactions.

“Not too many real estate companies experience a 45% year-over-year increase,” said Mark Johnson, Chief Executive Officer.  “In an industry known for its turnover, we have created a culture often referred to as, ‘the Top Producer’s final destination brokerage.’ Our strong emphasis placed on productivity and service ensures our agents are consistently crushing their goals while meeting the needs of their clients.”

It’s true, JP & Associates REALTORS® maintains a retention rate of 90% while also upholding a productivity standard of six or more transactions per year.

“As our primary focus is on our agents, we believe their primary focus should be on real estate,” said JP Piccinini. “By upholding our own productivity standard, our REALTORS® are able to thrive in an environment where they are frequently provided the tools and resources to be successful. At the end of the day, both our agents and clients win.”

JP and Associates REALTORS® (JPAR) is one of the top 50 real estate brokerages in the US. A full-service transaction fee based real estate brokerage, it has been recognized as one of the fastest growing brokerages in the country by REAL TRENDS as well as also being a back to back INC5000 nominee. It operates multiple offices across Texas, Louisiana, South Carolina, California and Florida, expanding nationwide, offering franchising opportunities for entrepreneurial real estate professionals.