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How Realtor Tracy Josey Closes More in Less Time

October 14, 2020
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How Realtor Tracy Josey Closes More in Less Time

Charlotte Realtor Tracy Josey helps her clients stand out with a non-contingent cash offer for their dream home.


Agent Tracy Josey has called Charlotte home for the last 35 years—she loves the great climate and fast-growing population. Tracy started out doing home equity loans in the banking industry, but 19 years ago, she knew she needed a change. So, she became a real estate agent, leveraging her banking experience to benefit her clients even more.

For the first 14 years in the real estate industry, Tracy worked with home builders selling new construction. While she loved it, she wanted to have her own business that allowed her to work with a variety of clients. So she joined Premier South Real Estate. She now closes more than 50 transactions a year for all types of buyers and sellers. And since she focuses so much of her time on understanding what her clients need and putting together an action plan to meet those needs, she has many satisfied clients who are quick to recommend her.

Low Inventory and Contingencies Preventing Buying

Charlotte’s seller’s market has made it more challenging for Tracy to help the variety of buyers she works with. For every two buyers looking in Charlotte, there’s only one house available. With such a booming local economy, large companies, like Microsoft, are bringing more jobs to the area. This means Charlotte’s population is growing at the same time housing inventory is shrinking. In the last few years, the housing supply has decreased by nearly 20%.

“In this market, there’s not a lot of inventory,” Tracy says, “So, you’re dealing with a lot of multiple offer situations.” Low inventory and increasing population mean many buyers encounter bidding wars that drive prices up. With houses appreciating by nearly 6% in the last year. Having to pay over asking price can make it difficult for buyers to afford a home.

When buyers do find a home, they have to move on it immediately. Otherwise, they’ll lose out on one of the few houses available. This presents a particular problem for buyers who also need to sell their current home. They’re being forced to sell and are often in-between homes for months while trying to buy a home. Between renting somewhere to stay, moving expenses, storage, and more, this can cost thousands on top of buying a home. Since joining a general brokerage to make more transactions possible, she looked for a way to help these buyers get their dream home.


Cash Offer that Makes Purchasing Possible

Luckily, she found Ribbon. With Ribbon’s Cash Offer program, Tracy’s clients can put in a non-contingent cash offer before they sell their current home. This helps her clients stand out with an attractive offer that’s a guaranteed deal for the seller whenever they find the right home. Instead of having to wait until their home is sold.

“I can go in and say we’ve got a cash offer,” Tracy says, “And, we can close quickly. So, it helps with transactions and helps people get their house.” Using Ribbon’s Cash Offer can also help Tracy’s clients save thousands while buying a home. Since sellers don’t have to worry about the sale falling through with a cash offer, many sellers will accept a lower offer when it’s cash. Plus, with a cash offer, her clients can close in 14-21 days, instead of 6 weeks. This reduces the money they would have to spend renting if they’ve already sold their home.


Buying with Financing Challenges

Ribbon is also helpful for Tracy’s clients who struggle to get financing right away. After Ribbon purchases the home in all cash, her clients can lease the home from Ribbon until they get financing. That way, her clients can still buy their dream home even if they face lending problems.

That’s exactly what happened to one of Tracy’s clients who was self-employed. Since they had just opened up their own business, they couldn’t qualify for a loan for another year—as they needed next year’s tax returns to prove their income to get a mortgage. But, waiting until their tax returns came in would have cost them their dream home in the competitive Charlotte market.

Tracy was able to use Ribbon to get her clients the home they loved. “While they were waiting for those tax returns, Ribbon was going to buy it for them,” Tracy explains, “And, they were going to lease it from Ribbon. Before the 6-month lease period ended, they were able to purchase it back from Ribbon.” Instead of being without a home for 6 more months and having to move multiple times, Tracy made the transaction happen for her clients with Ribbon.

In fact, Ribbon has helped Tracy close 14% more transactions in a year because of the unique financing options it provides. So, now Tracy can help an even wider range of clients get their dream home.

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