Case Study: The Dearings

Sep 4, 2020 / by Elizabeth Mixon

 

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Born and raised in Charlotte, Josh and Charlene Dearing know the ins and outs of every neighborhood in the metro area. They can speak to just about anything— from the local school district to growth opportunities across the area. Working as the Dearing team, they’ve spent five years building relationships that have led to professional success and awarded them the credibility they need to thrive.

Ribbon Cash has given them another tool they can use to reach their potential and get their clients into the home of their dreams. After all, being a real estate agent “is a career that doesn’t have a ceiling,” Charlene says. “The harder you work at it, the more time you put in…”, the better the results and opportunities. Here’s how Ribbon helped The Dearings sell their client's home for $15,000 over the asking price.

 

Timing Selling with Buying

At the beginning of their career, Josh and Charlene used cold calls to build their business. While this was a lot of work, it paid off. In their second year as a real estate team, they sold $8 million in residential properties. They doubled their growth in the two years following, totaling $32 million in sales in 2019.

Now, Josh and Charlene primarily work with sellers looking to trade up and get most of their business from referrals. Charlotte’s real estate market is great for sellers, with prices increasing by nearly 6% in the last year. However, it’s an increasingly competitive market for buyers, as inventory has dropped by almost 20% in the last few years. This combination can make the timing of buying and selling complicated. Many clients cannot purchase a new house while still owning their existing one, as most sellers won’t accept offers with home sales contingencies, especially in a hot seller’s market. On the other hand, it’s difficult for many of Josh and Charlene’s clients to sell at top dollar, as getting homes show-ready is nearly impossible when clients are still living at the property. Then Josh and Charlene found Ribbon.

 

Buying And Selling For Top Dollar - At The Same Time

Using Ribbon, Josh and Charlene’s clients can put an all-cash, non-contingent offer on a home before selling their current one—allowing them to stand out in Charlotte’s competitive market, where buyers are often in multiple offer situations.

Because Ribbon helps clients purchase before selling, their clients can fix up and stage their home after moving into their new home—no temporary home or double mortgage needed. “If clients come across their dream home,” Charlene says, “Ribbon can help them purchase it. And still have time to sell their house. In that case, they’ve already moved out, and it’s a blank slate. So, we can replace the carpet, change the paint, get it staged. And, sell their house for a higher value than we would have if they were still living in it.”

 

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Making $15,000 More When Selling

Josh and Charlene’s clients have seen the amazing results first hand. Recently, they had a client who was planning to sell his house with an iBuyer because he preferred not to show his home while living in it. But Josh and Charlene knew he’d leave money on the table, so instead, they used Ribbon. With Ribbon, their client was able to purchase their new home and give them time to fix up their old home for top dollar. These improvements, combined with Ribbon’s much lower fee, meant their client sold his home for $15,000 more than if he went with an iBuyer.

Charlotte has always been Josh and Charlene’s home. And, they want to help make it the perfect home for their clients. A lack of inventory used to make this a challenge for their clients who needed to buy and sell. Now, Josh and Charlene use Ribbon to help their clients buy their dream home – while selling their current one for top dollar.

 

Tags: Case Studies, For Agents

Elizabeth Mixon

Written by Elizabeth Mixon