Why you should be using MOFIRs in your real estate practice.
What’s a MOFIR? This term has kept popping up over the last six months, but what does it mean?
MOFIR stands for ‘make offer for immediate response.’ Let’s think about this in terms of another industry. The car industry does it all the time. They may run a special that says, “Come in and lease this car for $299 a month.”
The point of a MOFIR is to get someone to raise their hand and say they’re interested in what you’re selling. For the car industry, they hope people call, look them up online, or come into the dealership.
“MOFIRs will make your phones ring.”
How does this apply to the real estate industry? The most traditional real estate MOFIR is something like, “Do you want to know what your house is worth?” You might give the client a free CMA, and in the process, you’re building a relationship and figuring out where they’re at in the process.
However, there is a whole new set of MOFIRs today that you need to know as a real estate team owner. For example, the whole iBuyer industry relies on MOFIRs—they offer to buy homes immediately without the hassle. Another common MOFIR promises to turn a financed buyer into a cash buyer. The pitch might go like this, “Are you losing out on multiple offers? Here’s a solution.” One MOFIR we use is the One Move Program, where we offer to buy the client’s house and rent it back to them for six months.
I strongly encourage you to run MOFIRs in your real estate sales team. They will make your phones ring.
If you have any questions about MOFIRs or how to implement them, feel free to call or email me. I’d love to hear from you.
