I would like to start with the Broker Market Analysis (BMA) with a price to sell of 60days (who sells a house in 60days?) sirva has 2 agents come to your home and do this report. the agent has several questions that sirva wants answered. One is what are the 3 challenges to selling this property? sirva is not looking for the good in your home (this all leads to the buy-out later if needed) So these agents spend their 1 1/2-2hrs in your home they go over some of the details,(not what they value your home at that is forbidded only sirvia ets that) how they would market it. internet, open house, agent walk throughs ect the normal stuff, but they do hint that it won't be good. Now these reports go to sirva and if the 2 agents are within a certian % (5%) of each other , if not a 3rd realtor comes in and which ever the 3rd realtors BMA comes closest to you take the average of thoses 2 and then you would list your house at no more than a certian % above that average, now your home must be on the market for a min of 120days (if sold you get a 2% bonus) after 120days the appraisal process would begin, where 2 appraiser would come in and appraise your home (this will be different that what the realtors did) once this is done (if the appraisers are two far apart you'll need a third) your house then stays on the market at the new price for 30days (note after the appraisals bonus drops to 1%) after a total of 150 days on the market you are extended a Guaranteed Purchase Offer (GPO). This offer is good for up to 60 days. after that 60days if you don't take the offer your on your own.
So from a sellers point I think it's a bad deal. They make you list it for 120days at one price that was arrived at by tell agents that they are to price it to sell in 60days. are you kidding. BTW the company is giving us a year to use this benefit if we choose. so we could start this process the last 6mo of that year, if we think the market is changing in our favor. Also we were not allowed to talk to a realtor once the offer for employment was accepted.
All offers go through sirva, we actual sell the house to sirva and they sell it to the buyer.
To any company out there looking to offer a buyout benefit to employees,it does not always make it easier on them. sirva is a business looking to make a profit and the profit comes at your new employees cost.
We have had buy-out options before but not one as bad as this.
Additional notes:
Currently waiting for 3rd BMA, when I found this website and posted my experience.
Please note your % may be diff erent from what we were offered and you marketing time line may be different as well.
2% bonus on a 250k home = 5,000 before appraisal
1% bonus after+ 2,500
I called 2 appraisal services and they both quoted a rate of $300.00 since they were so close no need to call a third. so sirva spends $600-900 in my area and our bonus goes from 5,000 to 2,500 sirva up $1500.50 and is already starting to make a profit. I took out .25cents for each call sirva had to make.
I would like to hear the sales pitch sirva makes to these compaines to bring them on board. they must use some of their profits for all the sugar that put on it.
Just someone not happy with the way things are going.
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