Tim Heyl Shows Us How a Cash Offer Program Helps Generate Seller Leads

So many Fello users and #30DayListing Challengers have been asking about cash offer programs, so we got the expert on our webinar series to answer all of your questions. Tim Heyl is the CEO of Homeward, a company that helps agents stand up a cash offer program.

Typically, cash offer programs can significantly increase your ability to generate seller leads. Who doesn’t like cash?

Read on, and watch the full webinar video for all of Tim’s actionable strategies:

Why You Should Consider a Cash Offer Program

Attract Listings at Scale
Tim emphasized that the key benefit of a cash offer program is its ability to generate a lot of seller leads, which as we all know, is crucial for building a listing-based business. A competitive cash offer can capture the attention of potential sellers, bringing them into your sales funnel where you can build a relationship, find out what they’re looking for, and present them with customized solutions. 

Meet Sellers Where They Are
Another key takeaway is understanding that not all sellers are motivated by the same things. Some sellers prioritize speed and convenience, some want the highest sale price. A cash offer program is great for reaching sellers who want a fast, easy sale. 

How to Start Your Cash Offer Program

1. Choose Your Approach
   You can either develop your own cash offer program or partner with a company like Homeward. Homeward's model is particularly beneficial because it allows agents to present cash offers without sacrificing the home's market value. Sellers will receive the full proceeds when their home sells on the open market, minus a fee.
   
   
2. Leverage Aggregators
   If Homeward isn’t available in your market, consider using aggregators like Offerpad or KW Offers. These platforms can help you get cash offers for the seller's home from multiple investors.
   
   
3. Build Your Buyer Pool
   For agents wanting a more entrepreneurial approach, Tim suggested creating your own network of cash buyers. Find local real estate investors and flippers by researching recent cash sales in your area. Building relationships with these buyers can help you make immediate cash offers to sellers.

Deploying Your Cash Offer Program

Effective Messaging
Tim stressed the importance of clear, simple, and direct messaging in your marketing tactics. Whether through digital campaigns, direct mail, or phone calls, the message should focus on the benefits of a cash offer, attracting potential sellers to your funnel.

Relationship-Based Selling
Once you attract leads, your role shifts to a consultative approach. Ask detailed, methodical questions to understand the seller's needs and priorities. This allows you to tailor your solution for the seller, whether it's presenting a cash offer or listing the property traditionally.

Training and Processes
Ensure your entire team understands how to use the cash offer tool effectively. Consistent training and a clear process will help you and your team maximize the benefits of your program.

BTW...

You can still join the #30DayListingChallenge (you can join at any time!) to get access to every strategy class with Ryan or the Fello Customer Success Team, every live webinar, playbooks, scorecards, and more.