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Uploaded byMilt Sharp, Jr.
Introduction to eHome America
eHome is a web-based education program for prospective homebuyers, developed by a nonprofit agency, which has partnered with over 375 organizations nationwide and completed over 100,000 registrations since 2009. The program aims to increase the market share of first-time homebuyers who receive education and counseling by providing convenient, 24/7 access to resources at a lower cost. Revenue sharing models ensure sustainability for local counseling agencies and further enhance the accessibility of homeownership education.
Introduction to eHome America
- 1. Product Overview Presented by MiltSharp, President & Nat’l Administrator Michael Berryman, Vice Pres. Product Development 1
- 2. eHome Background 2 Aweb-based education program for prospective homebuyers linked to local counseling services Developed by Community Ventures , a nonprofit HUD- approved counseling agency in Kentucky.
- 3. eHome Today eHomehas over 375 nonprofit agency partners nationwide including Puerto Rico and Guam Over 100,000 completed registrations since 2009 Approved by USDA and numerous State Housing Finance Agencies Exceeds “National Industry Standards” for Homeownership Education 3
- 4. Our Three MainBusiness Goals 4 1. Increase the market share of first-time homebuyers who receive homeownership education and counseling (est. at <10% now) 2. Increase the perceived value of homeownership education and counseling (HEC) by consumers and partners 3. Increase the revenues and the sustainability of local counseling agency partners and eHome America
- 5. More younger, first-timebuyers (roughly 30-40% first- time buyers in 2001-2014) More technically savvy buyers (90+% of all buyers used the Internet multiple times to search for homes last year) Potential buyers are wary, busy and looking for “trusted advisers” Buyers want choices and convenience Changing Face of Homebuyers 5
- 6. Buyers Will Payfor Convenience! 24/7 availability at home -- at their own pace Evenings and weekends are precious No childcare or travel costs = Savings of $50-$100 or more per household No need to wait for next class offering in a month or two, or juggle personal calendar 6
- 7. Increase Market Share There are over 2 million first-time homebuyers annually in the nation The nonprofit HBE industry is educating less than 5-10% of them according HUD estimates We can grow this market dramatically, but we all need a sustainable business model that works! 7
- 8. Revenue Sharing Model Customers are charged $99.00 Discounts codes are available to reduce price for USDA and other partners eHome charges a $25 admin fee $74 in revenue to agency partners for support of their Homeownership Education and Counseling Program 8
- 9. Experience of BeyondHousing (St. Louis) 2013: 400+ eHome certificates, revenue over $50,000 In-Classroom: $95 fee in advance or $125 at the door Online (eHome): $125 “Our eHome fee has not been an issue for buyers….and aside from the outcome of more educated buyers, a check of $8,000 a month is pretty nice!” – Chris Krehmeyer, President 9
- 10. 10 Registration Fee andSet Up • $1000 populations of 50,000 < • $25 admin fee per customer • $500 populations 49,999 > • $25 admin fee per customer • $200 registration fee • $30 Admin Fee
- 11. Partner Benefits Reachmore customers Reach new and younger buyers Expand service area and trainings without increasing costs Provide services 24/7 to clients Agency staff can focus on counseling sessions and other office priorities 11
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- 13. 13 Next Steps • CompleteRegistration Form • Submit Set Up Fee • Set up takes 3-5 business days • Follow up Admin Features Overview
- 14. Summary eHome iscommitted to high-quality and sustainable HBE programs eHome wants to achieve a more sustainable business model for its partners and reach more first-time buyers We think this will be a win-win effort 14
- 15. Add’l Online Products &Services Money Management English and Spanish Foreclosure Education Green Education 15
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