How is our FastPASS program doing? Let's find out.
Today I want to give you a quick update about our FastPASS program.
We introduced the FastPASS program about two years ago, and during that time, we have seen some great results.
Our first year of running the program, we saw our clients’ first offer win 80% of the time. So far this year, buyers using FastPASS have had almost a 100% success rate, with only three offers lost (two of which were to other offers that were severely overbid, which made it hard to compete).
Our FastPASS program, for those unaware, is used the same as cash. It’s a fully underwritten loan with all the conditions signed off by the underwriter before you submit an offer to a buyer. The only items remaining on your approval are the preliminary appraisal, signed disclosures, and a signed purchase contract. When we go through the program with you, you are able to write shorter offers with no finance contingencies, which puts you in a great place to compete with cash offers and other offers as well.
If you would like more information about our FastPASS program, please feel free to reach out to us. We look forward to speaking with you soon.