xTradeHomes is an automated service that promises it will “allow agents to sell homes in minutes – without having to be tech savvy” launching in Alberta.
“The xTradeHomes solution runs an advanced database that connects sellers with other sellers immediately,” says the company in a news release. “It was designed to streamline and close the time gap between selling and buying based on the simple premise that the sellers have now turned into buyers for each other’s property. In other words, they each want what the other has, and they know what it will cost and how much they will get. No surprises.”
Company president Marcel Potvin says he created real estate trading in Edmonton after the collapse of the real estate market many years ago. “Within six years, I made enough money trading real estate that I was able to retire,” he says.
“In 2013, after seeing the ups and downs of the real estate market in the U.S. and then Canada, I put a team together to develop a trading program that could accomplish trades anywhere in Canada and the U.S. right down to the neighbourhood, and it works in any market,” says Potvin.
Some trades are two-way matches, but the process can involve up to five properties at one time, says the company, matching sellers with the right properties and converting them into buyers as well. The salesperson makes a checklist of the seller’s must-haves via an online form. This generates the listings that match the seller’s desires as a buyer. “This entire process is faster and easier than conventional real estate transactions,” the company says. “For example, if a seller in Vancouver wants to move to Phoenix, the program finds sellers in Phoenix who want to move to Vancouver. However, most xTrade scenarios will happen within the same community. From there it is a matter of co-ordinating the trading of one house for another in a way that works for the clients, just as a real estate agent normally does – saving time, hassle and money for both,” the company says.
In a slow market, Potvin says sellers find new homes much quicker. In a heated market, sellers will never get caught without a home to move to. The role of the real estate salespeople is the same, except they now can earn more commissions and sell more properties faster, he says.
The company says Alberta was chosen as ground zero because the market conditions are perfect for xTrading. The Alberta economy is full of listings and has few buyers, it says. Most salespeople know their clients are going to buy once they sell, “but they often cannot afford to buy until they do sell and even if they could figure out how to do a trade, it is a monumental task. This is where xtradehomes.com comes in,” the company says.
The firm is offering real estate professionals their first six months of xTrading free.