By Susan Saldibar
Even if you have never had to sell your parent’s house to pay for their move into senior care, you probably know someone who has, right?
Steve Moran, Senior Living Foresight founder, has been there and knows what an emotional pain in the neck a move like that is.
So when he sat down to chat with Mom’s House’s co-founders Ben Rao and Phillip Vincent, he had some tough questions. I think it’s their answers that really separate Mom’s House (a Foresight partner) from everybody else out there.There’s a lot packed into this video, so the best thing to do now is watch it, which you can do here.
That said, here’s a rundown of the highlights.
They’re Not Realtors. They’re Much Better.
Ben and Phillip talked about one of the biggest snags to a move-in: real estate agents. And yet they’re probably your go-to folks when your prospect drops the bomb that they “need to take more time to get Mom’s house in order to sell.”
Now the clock starts ticking (and wallets get thinner) as families scramble to get the house ready for the realtor to sell. If you’ve ever done this yourself, you know the drill:
- Clean and remove 30–50+ years of clutter.
- Fix what’s broken and update/upgrade.
- Maybe even continue to pay a mortgage.
And Ben and Phillip remind us that the prospect will go through all this just to turn around and pay a 6% commission, after thousands may have already been spent getting the house in order.
Plus, as Phillip points out, agents are going to want to list the house at top dollar to get as much commission as possible.
But your prospects are doing all the work (and paying for it)!
A Better Way
Mom’s House has a great way to eliminate that. They buy the house.
Mom’s House shortens the move-in cycle by a minimum of two to three months.
“You have a resident who may only be with you for an average of two years. If we can add another two to three months on the front end of that stay, we help the community be more profitable,” Ben says. “But, even more important, we help Mom get into care, have her meds regulated, and be around other people. She’s happier, lives longer, and has less chance of having a fall.”
No owner rehab, no removal of “stuff” or all the other things you have to do to sell a house — things that pile on months to the move.
What About Money?
I’m sure you’re wondering what Steve was wondering:
“Do you guys lowball on the price?”
Both Phillip and Ben were quick to respond with “No!” Here’s why:
- First, it would go against the respect and compassion they have for these families.
- Secondly, they don’t have to!
The way they explain how they make money makes a lot of sense. The key is their network of people who can do things, like rehabbing the house, for about 1/3 of the cost of what homeowners would pay to rehab.
“These are one-off transactions, so they’re paying way too much to get the house ready,” Phillip explains. “So, when you boil it all down to what the family nets after going through all that rehab and getting it ready for the market, they would have done better to take our offer in the first place.”
Here are five more reasons why you should call Mom’s House instead of your local real estate agent:
- They’re professionals. They’ve been doing it for over 20 years.
- They have resources that make everything easier and more economical.
- They work with just about anyone – placement agents, move managers, eldercare agencies, attorneys, CRM providers. Everyone along the supply chain.
- They honestly love the people they serve. As Phillip says, “We take it as a great honor to buy someone’s ‘forever home.’”
- They become part of your sales process. They will even connect your CRM to Mom’s House so you can instantly access their nationwide network.
And they don’t charge you or your prospect a nickel!
At one point Steve shook his head and asked, “Where were you years ago when I had to move my mom?”
Good question. I was wondering the same thing. But here’s what matters. They’re here now. And their timing couldn’t be better.
You can learn more about how Mom’s House works and how to try out their unique service here.