A property research and offer generation tool.
Use this tool
*We are investigating formatting issues with generated documents on Mac. For the best results, use Word with Windows.
About
In our business, we are often asked by homeowners to just "send me an offer". It's a fair thing to ask, the seller doesn't want to waste their time and frankly we don't want to waste ours. Recognizing that real estate is a numbers game, we need to nurture as many leads as possible, and having to pause our other activities to draft up an offer that probably won't be accepted is not an ideal use of our time.
So, PropertyWizard was created for the sake of saving time, allowing us to send ballpark offer estimates to sellers upon request, without the homework. It's designed to be used live while you're on the phone with the seller, giving you general property details to confirm, an estimate for the value, and finally a way to send them incredibly customizable and flexible offers or even contracts.
PropertyWizard is especially powerful for presenting financing or subject-to offers. One of the most challenging aspects of presenting these complex offers is opening the seller up to a long-term transaction and making the benefits of that clear to them. You can present a range of offers to the seller with PropertyWizard in one easy movement, starting with a discounted cash offer and working up to a 0% down financing offer, with different down payment options in between.
How does it work
[How to use it (short and sweet)]
[How to use it (longer)]
The whole idea is based on a document templating system. The templates will have placeholder variables, like {BEDROOMS} and {BATHROOMS}, which are replaced with the property's data and your offer on the spot. The result is a versatile way to produce any kind of real-estate document based on the template without having to touch a calculator.
Both the templates and the generated documents are microsoft word docs (.docx). There are lots of reasons for this format, including ease of use, general accessibility, customization, and technology support. There are no plans to use other formats at the moment. If you don't have microsoft word, Google docs is a great free solution that can export to .docx
Templates
There are a few example templates that are installable at any time from the template management menu. You can use these directly, adapt them to your needs, or learn by example.
Configuring offers
The system currently supports up to four total offers. One cash offer and up to four financing offers. Each variable is configurable and you can use as many or as few offers as you'd like in any document, but they are all accessible. Your configuration can be saved, so the next time you need to generate an offer you won't need to reconfigure the fields.
Customization
If you want to dig in to customization but don't know where to start, please feel free to give Noah a call. The templating system can be tough to approach alone and I can help you!
To start customizing templates, you should use the style guide, which contains all the available variables and related details. You can also use the sanity check to help understand the math that goes into offer calculations
An unfortunate challenge that comes with the convenience of working with word documents is that different programs may interpret word documents differently. The availability of fonts, image positions, header and footer margins, and new lines can behave differently on different devices. The most supported setup for dealing with word documents is to use Word on Windows.
The hit rate for vacant land, commercial properties, or apartments is very low or zero in most cases. If you are not satisfied with the hit rate, chances are the properties were not relevant to you anyways, and you can verify this by checking the addresses with your assessor's website. List of residential properties tend to have sufficiently high hit rates.
Support
If there are technical issues with this tool, contact Noah from the support page. REIZoom subscribers are welcome to ask for general advice or other logistic questions regarding PropertyWizard, and professional subscribers can connect with Noah for hands-on help with the templates
