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About That Free Trial . . . (3)

Do you offer a free trial for longer than 7 days? I need more time to evaluate your software.

We’ve found that members only need one or two exposures to our system to get a general idea whether or not it fits their needs, thus the 7-day free trial. True, it is nearly impossible to learn everything there is to learn about our service in a 7-day period. However, the purpose of the trial is to give you a basic understanding of what Investway can do for you. There are no membership contracts, just a month-to-month commitment. You can cancel at any time.

Why do you need my credit card number when you’re offering a FREE trial?

During our free 7-day free trial period we offer unrestricted access to our system. Providing a valid credit card helps us reduce spam registrations and reduces other “fishy” Internet activities, allowing us to focus on providing you a killer web application. In addition, it allows you a seamless membership experience when you decide to keep us! If you decide to cancel your membership, we make it easy for you to cancel during your free trial. (No games or jumping through hoops here!) Simply login to your account, go to MyProfile, and select to cancel your membership. You can also call us, email us, or contact us.

What happens after my free trial ends?

After your 7-day free trial, your membership will automatically renew each month (or year), and we will charge your credit card on file for the product and term you indicated when signing up. Thereafter, your membership will automatically renew each period until you notify us to cancel your service. You can refer to our Terms of Service for reference.  To cancel your membership before being charged, simply contact us through our website, call us, or email us. Our email address is [email protected] Be sure and indicate your account/login name so we can correctly identify you.

Product/Service Questions (40)

Do you require long-term commitments with your customers?

No. We work with many investors who only purchase one property at a time and use our service only until they find and close on that deal. They cancel and then return later when they are ready for the next deal.

What areas does Investway serve?

Investway currently serves Dallas, Houston, and Central Indiana/Indianapolis metropolitan areas. For details on which counties that includes, please see our blog post on “What Areas Does Investway Cover?”

Where does Investway get its data?

We derive our data directly from the local REALTOR’s MLS in the areas that we currently serve. Data is “live” and updated several times daily. For more details on where our data comes from, please see our blog post “Where Does Investway Get It’s Data?”

How often is your data updated?

MLS data is “live” and updated several times daily.

Is this the same exact MLS service offered to real estate agents with a license or does it vary slightly?

While there is some information which we don’t display such as security codes, agent to agent remarks, agent contact details, etc., all the MLS property data you need to find and make a decision is there.

What is a comp and why is it so important?

A comparative market analysis, also known as a comparable, or comp, gives you true market data to compare property and determine values. There are two types of market analysis; both are critical in understanding the market. A competitive market analysis shows what is currently on the market for sale. This helps determine market supply and how a property you want to sell “competes” with other for-sale property. A comparative market analysis shows what has recently sold—important in establishing what the market was willing to pay for similar property in the recent past. Investway’s comps include actives (currently for sale), solds, and expireds which will provide you all the data you need to make reasonable analysis of property value.

How long does it take to receive my comps via email?

After you hit “submit” on a comp, you should get a message that says your comps are sent. Once you get this notice, your comps have left our servers and are on their way to your inbox.  If there is a delay of more than a minute or two, check with your junk email folder and/or your email provider.

Can Investway send my comps to multiple email addresses?

Investway accounts are limited to one email address per account. If you are trying to have comp reports emailed to a work and home address, or if you are trying to share comps with partners, you can sign up for a shared email account or use an email group forwarding feature. Most of the big free online email services allow you to do this. You can find more information on how to set this up here:

http://www.emailquestions.com/gmail/362-automatically-forward-all-e-mail-your-gmail-account.html
http://www.emailquestions.com/hotmail/301-automatically-forward-your-windows-live-hotmail.html

Can I share my login with others?

Due to agency and data licensing issues, our service agreement is between the member and Investway only. Any new members would need to register for their own account and agree to the terms of service posted on our site. As for partners and/or assistants, just be sure you trust them! Your private information, including some sensitive billing information, is accessible to whomever logs into your account. In addition, anyone using your account is able to change your account preferences, alter/delete your saved searches, and otherwise change up your account.

Can I get a corporate license to use Investway for my entire team?

Contact us and tell us what you have in mind. Each situation is determined on a case-by-case basis.

Why am I not receiving comps to my email address?

Most likely, your comps are arriving in your junk folder. Be sure to add the following addresses to your “safe senders” list:

[email protected] (for comp reports)
[email protected] (for email alerts of listings)
[email protected] (for customer service communications)
[email protected] (for special announcements or promotions)

If your comps didn’t even make it to your “junk” folder, then it is most likely that your Email Service Provider (ESP) flagged the email as SPAM, and never sent it to you. Mail providers are constantly changing and trying to improve their spam filtering, so it is possible that you were receiving your comps just fine until changes were made by your ESP. For more info on how to solve problems related to your ESP, check out this blog post “We’re at the Mercy of the ISP Gods”

There should be sold comps on my comp report, but there aren’t any. Why?

Probably because your comp report maxed out. If you look towards the top of the report, you may see this message: “Your report produced more than 250 property listings. Results are limited to the first 250 results.” Comp reports are limited to 250 total properties per report, including active, sold, and expired property.  A cap of 250 keeps our database running efficiently, which keeps our members happy. A meaningful comp report can have as little as 5 and as many as 50 properties. Any report that has much more than that means you need to better segment your report by size, age, or location.

Is there a way to print my comp reports?

Yes. When submitting a comp, you are asked which style report you want. Select the  simple line-item report. Select “landscape” mode on your printer, then print.

How far back does Investway’s data go?

Our MLS data may contain up to a five year history. The amount of historical data varies by local MLS area.

Can I make offers for property on Investway?

Yes! We are a licensed brokerage. To submit offers, you may email [email protected] for help in submitting an offer.

In the near future, we will provide an Offer Wizard, where you can make offers digitally, using state-approved forms. We will auto-fill your info, making contracts easy to submit. A few rules, however.

1) Before accessing our OfferWizard feature, we require you to take our free online OfferWizard class. This class reviews the legal and contractual aspects of submitting offers. It also helps you prepare better offers that are more likely to get accepted. We also review how to best utilize our OfferWizard software. The class is about 1 hour in length and is required for all experience levels to protect both us and you from the legal implications associated with real estate investing. Check our [Events] section (coming soon) to select a date and sign up.

2) Generally, we do not allow “low-ball” offers using our system unless you have reason to back up your low offer (with pictures, estimates, inspections, etc.) We have found that “low-ball” offers only hinder relationships we have established with other real estate agents in the cooperative industry we work in. Offers less than 80% of asking price are considered “low-ball.”

Can I make ”low-ball” offers on Investway?

One of the policies we have for using our online OfferWizard (coming soon) is that all offers must be within 80% of the list price, or you must provide valid reasons to the listing agent that justify the low offer price. Justifications include:

–          Comps showing the listing price is too high
–          Repair estimates
–          Inspections
–          Pictures
–          Quick cash close
–          Property has been on the market for a long time, etc.

What we don’t do is submit arbitrary low ball offers. We’ve found it’s a lot of work for a lot of nothing, and it actually damages your and our reputations as serious real estate professionals. You are welcome, of course, to submit your low-ball offers directly to the listing agent; you just can’t use our online system to do it. The reality of today’s marketplace is that there are plenty of great priced properties, particularly if you have cash to close and can close quickly.

I want to use my LLC instead of my name to make offers. Can I do that?

Yes, the name field on any offer pulls from your account details. To change this, visit the myProfile section, delete your name, and type in your company name.

Does Investway show property?

Yes. We show property to qualified members that meet the following criteria:

–          active, paying members,
–          have attended Investway’s OfferWizards class, (coming soon)
–          have signed a [Buyer’s Rep Agreement] with Investway (or one of our cooperating partner-agents) that states you agree to purchase through Investway  any property that is actively for sale on the MLS,
–          provides a pre-approval letter or proof of funds, and
–          has paid a $300 retainer fee (to be reimbursed after your first closing with Investway.)

The retainer fee is waived for any person who has purchased a property through Investway within the last 12 months. The retainer fee may also be waived at the showing agent’s discretion. The retainer fee is forfeited if no property is purchased through Investway within a 12-month period.

Can I use my own REALTOR, or am I required to use an Investway REALTOR?

In short, yes, you may use any REALTOR. We are a licensed real estate brokerage, and we exclusively work with real estate investors, and we want your business. However, we don’t force you to use us as your agent. You can use our service and opt to work with another agent if you desire.

There is one exception: you may not have an exclusive buyer representation agreement with another REALTOR and use our service. If you have an exclusive agreement with another agent, then, naturally, your agent should be the one providing you with real estate information.

We are allowed under MLS rules and regulation to provide our data and service to “clients” and “potential clients.” Once you sign an exclusive buyer agency contract with another agent, you cease to be qualified as a “potential client,” and we can’t provide our service to you. Exclusive agency agreements usually aren’t a problem with most investors, since most don’t like to sign them.

The bottom line, you aren’t obligated to use us to purchase or sell your property, but if you do sign a buyer representation agreement with another agent, you should let us know, and we will need to cancel your service. This does not apply to listing agreements, as we exclusively work as a buyer agency.

We would love for you to use Investway or one of our partner agents. However, if the agent you prefer to use isn’t yet one of our partner agents, we can help them become one. This would allow you to submit offers at lightning speed through our Offer Wizard (coming soon)– with no paper, no pen and no headache for you OR your agent. For more info on this, contact us at [email protected]

Can I contact the listing agent directly?

Yes. Investway provides the name of the listing agent on the property detail page. From there, you can visit your local state’s Real Estate Commission’s public website and perform a search on the listing agent’s name to acquire his/her contact info.

That said, we would appreciate the opportunity to earn your business and work your offer. Our Agent Partners are highly qualified to help you create offers and close the deal on a property.

Where do I find the selling date and price on a sold property?

You need to pull a comp report on that property in order to see the sales price and date sold. Due to MLS licensing restrictions, we are limited in the ways we display data.

Can I get a list of expireds from Investway?

You can get a list of expireds as part of a comp report. MLS licensing rules and regulations prohibit us from providing you a downloadable or searchable expired listings report.

Can we tell when a listing is about to expire?

Only the listing agent and listing office know the listing expiration date while a property is still active. The expiration date of a listed property is not widely available to MLS-subscribers.

Can I get pending sales data from Investway?

MLS rules prohibit us from allowing you to directly search for pending properties. However, you are able to find pending sales on a comp report.

Does the sales price shown on the MLS include seller-paid contributions?

Yes. On the MLS, the sales price is the total selling price of the home, including any seller-paid contributions. We are looking for ways to disclose the actual seller-paid contributions, so you are better able to determine the property’s real value. But this may not be available in all markets.

Is there a way to search foreclosure property ONLY on the MLS?

Yes, there is a field in the MLS where the agent indicates the owner-type. Foreclosure is one of those options, and you are able to select this option in your MLS search on Investway.

Can I create a list of seller’s names and house addresses on Investway to save to a spreadsheet?

No. Our system is mainly for real estate analysis. MLS rules prohibit us from allowing you to data scrape.

What are your recommended system requirements to get the best Investway experience?

Investway is tested and best experienced in the latest operating systems and Internet browsers, including Chrome, Firefox, Internet Explorer (IE9 and IE10), and Safari. You may continue to use Investway, but you may experience degraded performance, and the functionality of the site may not work as intended. PLEASE NOTE: IE 6, 7, and 8 are not supported; it is time to upgrade!

Do you have tax data?

Currently, the MLS listing data contains tax data fields. We include this information on the property detail page. However, we do not have separate tax data information at this time.

Does Investway include multi-family/commercial listings?

Investway is primarily for residential property. Some multi-family and commercial properties are included in the MLS, our primary data source, but residential properties are the shining star around here.

Can I list my property for sale on Investway?

Unfortunately, no. Investway doesn’t take listings at this time. We work exclusively as a buyer agency.

Does Investway have a FSBO section?

According to the National Association of REALTORs (NAR), For Sale By Owner properties only make up about 2-5% of all sold property in the nation. Investway focuses on the 95 to 98% of for-sale property, property listed for sale in the MLS.

Can we search for mobile homes?

Most MLS’s don’t classify mobile homes differently than it does single family property. Your best bet is to search with “mobile” or “manufactured housing” in the keywords field. Take note that most mobile homes for sale in the MLS are attached to land, and the land goes with the sale. If you are just looking to buy the home without the land, then you’ll need to look elsewhere.

Can we search for “cash only” deals?

We suggest you search the MLS marketing remarks using our “keyword” feature in the advanced options search section. Search for “cash” or “cash offers.”

I can’t find a specific property on Investway. Why?

If the property isn’t currently listed in the MLS, then you won’t find it on Investway’s search feature.

You may find the property on a comp report if it has been listed in the MLS within the last few years. Our data availability could be anywhere between one to five years, depending on the market history available to us.

When my real estate agent pulls data for me, and I compare it to Investway, there are discrepancies. Why?

More times than not, discrepancies are due to an agent not selecting the same criteria in the MLS as you select in Investway. If there truly are discrepancies, please contact us and provide screen shots, addresses, mls #s, etc., so we can further investigate. Accurate data is our livelihood– and we take it very seriously.

How come some of the HUD listings aren’t updated?

The data we have comes directly off the MLS. So it is most likely that the HUD agents aren’t updating the HUD listings as soon as changes are made. For additional info on HUD, VA and other government property, visit http://portal.hud.gov/hudportal/HUD?src=/topics/homes_for_sale

Can I change my email/login?

You can change your email by logging into your account. Go to myPreferences on the left menu, then click on myAccount. You should see where to update and change your email address. IMPORTANT: Once you change your email address, the new email address will be your new username/login.

 

What makes up an acceptable password?

Your password can be any combination of letters and numbers, needs to be at least 6 characters long, and not more than 20 characters in length. Passwords are not case-sensitive.

Do you sell/give my information to others?

No. Period. Please read our privacy policy for more information.

Billing/Pricing Questions (11)

What are your different services and pricing?

Basically, we have two core products: our Select product and our Total Access product.

Investway Select is $79/m. It includes MLS search in a single market you select (for example, Dallas OR Houston OR Central Indiana), and unlimited comps*.

Investway Total Access is $99/m and includes MLS search in all markets we provide (currently Dallas AND Houston AND Central Indiana) and unlimited comps*.

*There may be a restriction on the quantity of comps we can provide in certain markets. Please contact us for details.

How do I cancel my membership?

Membership privileges are granted on a month-to-month basis (or annual if you selected a longer membership term). You can cancel at any time, for any reason. Or you can stick with us as long as you’d like. To cancel, simply email us at [email protected] or use our “contact us” form on our website, and indicate your wish to cancel. Be sure to indicate the name of the account holder and the email address associated with the membership to fulfill your request. Access to your account continues through the end of your paid term.

How do I reactivate my membership?

Simply login using your email address and password on file. If you do not remember your password, click on the “forgot password” link and we will email your password to you. Follow directions to update your personal and billing information . . . and you’re good to go!

Do you require long-term commitments with your customers?

No. We work with many investors who only purchase one property at a time and use our service only until they find and close on that deal. They cancel and then return later when they are ready for the next deal.

I want to re-start my membership, but only for 30 days. Can I do that?

Yes, you can. Membership plans are available on a month-to-month basis.

What forms of payment do you accept?

We accept MasterCard, Visa, Discover and AMEX credit cards. As far as security is concerned, our billing system meets the highest PCI DSS compliance level of certification available.

Do you offer annual discounts?

Yes. We offer 2 free months for annual memberships. In other words, buy 10 months, get 2 free. Annual memberships are paid upfront. You can change to an annual membership when logged into your account. Simply go to the myProfile section and select your billing preferences. You can also call us, email us, or submit a support ticket to request a change to your billing frequency.

Do you offer any promotions or special pricing?

From time to time, we do send out special promotions, usually via email. So you can look forward to those, assuming you don’t opt-out of our email marketing list.

Can I sign up for an annual membership, and then cancel mid-term?

You can cancel anytime, however, there are generally no refunds, partial or whole, on our discounted annual memberships, unless you cancel within the 7 day trial period.

Can I change my credit card number or other personal info while logged in to my account?

Yes. After logging in, go to the myProfile section and update any personal information, including email addresses and credit card numbers. NOTE: Changing your email address will change your username/login.

I got double billed! What happened?

More than likely, you’ve signed up for a second account. Accounts are primarily tagged with your email address. Pick which account you want to keep and cancel the one you don’t want. You can contact us to discuss a possible refund.