Agents

Net Sheet Template for Listing Agents

Reading Time — 2 minutes

January 24, 2020

By Sam Westelman

Reading Time — 2 minutes

January 24, 2020

Opendoor is proud to have a network of successful agents and brokers who value options for their clients, and view cash offers as complementary to their core revenue stream.

“It’s our job as agents to provide clarity and options,” says Jackie Soto, broker-owner of eHomes in Los Angeles. “In order to serve our clients at the highest level, we need to be prepared with ALL OF THEIR OPTIONS. We need to create tailor-made experiences and Opendoor helps us do just that.”

Many of the talented agents who work with Opendoor present a side-by-side net sheet to help their clients understand their options. Here’s an editable net sheet template and usage guidelines for you to compare listing traditionally on the MLS vs selling to Opendoor.

Step 1: Fill in the Opendoor offer price and your best guess for what MLS offers will be. This is a good time to get the seller’s buy-in on what prices the MLS will realistically bring.

Step 2: Fill in the cost associated with the punch-list items you recommended the seller completes prior to showings. 1% is pretty typical but 2% or more are not uncommon for houses that look worn.

Step 3: Fill in the listing and co-broke percentages at which you list.

Step 4: Closing costs, seller concessions, and repair asks are usually thought of in dollar amounts, but using percentages here makes a nice side-by-side comparison. After a few of these you will get very good at knowing what to use for these items.

Step 5: Fill in a listing commission and the Opendoor fee shown in the offer we sent. Important: Buy commission is zero on the Opendoor side for pre-MLS offers unless otherwise noted.

Step 6: Now you can let your seller compare the ‘Net Offer’ and ‘Cost to Sell’. Using this template, deliver the options guide your client to choose what option works best for their unique situation.

At the end of the day, we share the same goal: doing what’s best for the client, whether it means selling to Opendoor or listing the home on the MLS.

Sam Westelman is the Brokerage Collaboration Manager at Opendoor, focused on developing and launching strategic partnerships with brokerages and agent teams across the country.