A Day in the Life of a Development Agent
Welcome. I am Rob Caldwell and I work as a Development Agent with HomeVestors® of America. The Development Agent’s role is to train and support HomeVestors® business owners. My days are fun and varied, and I hope this gives you an informative glimpse into a day in the life of a HomeVestors® Development Agent.
What Is a Development Agent?
In the world of franchising, Development Agents are local or regional franchise owners who work as coaches and mentors to newer franchisees. DA’s are also involved in franchise recruiting and sales to help develop their territories. Because they are compensated based on the performance of the franchisees they support, it’s in the best interest of the Development Agent to ensure the success of the franchise owners they serve. This creates a win-win environment for everyone involved.
The Development Agent program for HomeVestors® was introduced in 2009. When I joined HomeVestors® in 2004 as a franchise owner, I did not have a Development Agent. So I know first-hand what it is like to operate without anyone locally and intimately involved in my business. I have never forgotten that loneliness. And when I work with the franchise owners I support today, I always remember what is was like NOT having that personal interaction and hands-on relationship.
A Day in The Life
I received a notification through our proprietary software system (called ValueChek) from a new franchisee. He entered a property into the analysis tool and is requesting that I review it for him. He is ready to make an offer to the seller and would like me to look at his numbers. I immediately notice that the total square footage for the house does not match public records.
I suggest that he measures the house while on the appointment to confirm the total and heated square footage. Other than that, his indicated repairs appear to be in-line with the scope of work based on the pictures he uploaded. After my review, he is ready to meet the seller again to deliver his offer.
I am meeting with a local HomeVestors® business owner to join her on an appointment. The seller we are meeting responded to a HomeVestors® TV commercial. She inherited the house from her mother. The house is outdated and in need of many repairs. Prior to the appointment, the franchisee and I drove the comparable sales to confirm the value of the house. Now, we will meet with the seller.
We listen as she shares her memories of the house, and her concerns about selling it as-is. After about 20 minutes, we ask for a tour of the home, while taking notes of the repairs using ValueChek. Then, we sit down again to discuss her options for selling. She says she isn’t sure what she should do, but she doesn’t think she wants to list it with a RE agent since she just cannot not afford to fix it up.
We provide several possibilities, including our as-is cash offer. The seller indicates that our number wasn’t quite what she was looking for, but she would keep it under consideration. We ask if we can follow-up with her next week. She agrees and our appointment concludes.
In the afternoon, I have lunch with my business partner, Jim Williams. Jim and I support multiple HomeVestors® business owners across the southeast. Our discussions generally concentrate on training and support. We are reviewing the performance numbers for our region and looking for red flags.
The Lead Dashboard in our franchise portal allows us to see how each franchise owner is doing in real time. This helps us see potential challenges and concerns within our team. We find that most problems result from the franchise owner not following the HomeVestors® system. As DAs, we help the business owners pinpoint any issues and remedy it with a solution!
I take a scheduled call with a potential new HomeVestors® business owner. He is considering a franchise in the Charlotte, NC territory and, most importantly, appreciates how a HomeVestors® franchise business gives him access to motivated seller leads generated through our national branding and advertising.
As a Development Agent, I am looking for the right candidates to grow my market. Each HomeVestors® market has a dedicated Advertising Council that is comprised of all franchise owners in each territory. We are looking for additional franchise owners who understand how we grow together as a team, as well as build independently owned and operated house buying businesses for themselves.
I arrive in Greenville, SC for the Upstate Carolina Real Estate Investors Association (UCREIA) monthly main meeting. I am manning our vendor table where I talk with local real estate investors interested in learning more about working with HomeVestors®. Like we always say, Real Estate investors can buy discount / wholesale real estate from us, or they can buy discount houses like us by joining us.
Our local HomeVestors® franchise business owners sell the majority of their purchases (they wholesale houses) to other investors. Some of those investors are so impressed with the HomeVestors® system that they join us as franchise business owners.
I usually wrap up my day emptying my email inbox and returning phone calls and today is no different. This is the time of day when I finish reviewing properties in our ValueChek program. I like to make sure our franchisees are primed and ready to meet sellers and make offers tomorrow! I love this business!
If you have question about HomeVestors® or my role, give me a call at 828-989-3785. You can also follow along for my favorite real estate investment resources and insider tips:
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