Frequently Asked Questions

General Questions
What is Fairclose?
FairClose is a secure and efficient online marketplace designed for real estate professionals, including realtors, sellers, and wholesalers. It offers an exclusive, invite-only platform for off-market residential properties with verified sellers, validated properties, and certified buyers. The user-friendly app enables users to easily present opportunities and negotiate offers. The peer-to-peer rating system adds transparency and accountability, while the platform operates with no sign-up or monthly fees, making it an ideal choice for real estate professionals seeking to close deals with confidence.
What are the costs and fees?

Sample:

When a buyer offers $500k, the seller sees a net offer of $499k because a $1k fee goes to the buyer's inviting member. This fee is paid through escrow at closing.

If the seller accepts the $499k offer, they pay a $1k tech fee, making their final net sale $498k. The $1k tech fee goes to FairClose, with 20% going to the seller's inviting member as an affiliate fee (paid quarterly).

Once the offer is accepted on FairClose, the buyer and seller learn each other's identities. They then create a purchase contract using our preferred escrow or choose a title company.

Affiliate fees are tracked based on closed deals and inviting members. These fees are viewable on the desktop version and paid quarterly.

Does it cost to post a property on FairClose?
No, it doesn't cost anything to post a property on FairClose. The platform only charges a tech fee if it brings value to you.
Do I need a license to post a property on FairClose?
No, FairClose does not require sellers or wholesalers to have a license to post a property. However, members are responsible for following any local rules and regulations that may require a license.
Where does FairClose get its inventory?

FairClose sources its on and off-market properties from agents, wholesalers, FSBOs (For Sale By Owners), and CloudCMA iBuyer connect. Each property is validated by local third-party market experts and FairClose analysts to ensure accuracy. The platform's technology then matches each property with interested buyers based on their specific buying criteria.

Can a property be in the MLS (Multiple Listing Service)?
Yes, properties listed in the MLS can be posted on FairClose. Information about the listing will be disclosed to buyers, allowing them to accept properties in the MLS if they choose to.
What differentiates FairClose from other platforms?
FairClose sets itself apart by providing vetted and verified buyers, a post-close peer-to-peer rating system for transparency and efficiency, and accurate, relevant data for buyers to quickly evaluate deals. Members must prove they have the right to market or sell deals, ensuring only genuine deals are available on the platform. Additionally, FairClose allows buyers to negotiate offers within the app, streamlining the process for all parties involved.
Buyers
How do buyers receive and negotiate properties?

On the FairClose platform, buyers receive properties through a streamlined process designed to match them with suitable listings based on their preferences and requirements.

Buyer Profile Creation: Buyers start by creating a profile that includes their preferences, such as property type, location, budget, and other specific criteria.

Property Notifications: Once the buyer's profile is complete, the FairClose platform will automatically notify them of properties that match their preferences. Notifications can be received via email, text message, or directly on the platform.

Property Exploration: Buyers can explore the properties they receive by reviewing detailed property listings, including photos, descriptions, and relevant documentation. They can also ask questions or request additional information from the listing member.

Making an Offer: When a buyer finds a property they're interested in, they can submit an offer through the FairClose platform. The offer will be presented to the seller, who can then accept, reject, or counter the offer.

Offer Acceptance and Closing: If the seller accepts the buyer's offer, the buyer and seller will be introduced to each other to finalize the purchase agreement and proceed with the closing process. This includes selecting an escrow company, handling inspections, and completing any necessary paperwork.

By utilizing the FairClose platform, buyers receive properties that align with their preferences, making the property search process more efficient and tailored to their needs.

How does FairClose verify and certify buyers?
FairClose ensures a secure and trustworthy platform by verifying and certifying buyers through an automated process. To become a certified buyer, users must submit articles of incorporation and proof of funds, Our strategic partners review these documents to verify the authenticity of the buyer.
How does the FairClose Rating for buyers work?
The FairClose Rating for buyers is a unique scoring system designed to help sellers evaluate potential buyers based on their transaction history, responsiveness, and financing qualifications. By assigning a rating to each buyer, the platform creates a transparent environment that fosters trust between buyers and sellers. The rating is updated regularly and takes into account feedback from sellers, successful transactions, and adherence to platform guidelines.
Can buyers negotiate offers directly in the FairClose app?
Yes, buyers can negotiate offers directly through the FairClose app. The platform maintains the privacy of both the buyer's and seller's identities until both parties have accepted the terms. FairClose simplifies communication with its easy-to-use interface, enabling buyers and sellers to discuss terms, negotiate potential deals, and reach mutually beneficial agreements. This streamlined process saves time, reduces the need for multiple intermediaries, and makes the negotiation process more efficient and user-friendly.
How are buyer relationships and identity protected on FairClose?
FairClose is committed to protecting the privacy and security of our users.. Buyer identities are anonymized during the initial stages of negotiation to protect their personal information, and we only share this data with relevant parties when necessary for the transaction. Our platform also complies with data protection regulations, ensuring that user information is handled responsibly and securely.
What security measures does FairClose have in place to protect buyer data?
FairClose employs a variety of security measures to protect buyer data. We use industry-standard methods to safeguard information during transmission and storage.
What is the FairClose rating for buyers?
FairClose has a unique post-close peer-to-peer rating system that creates accountability for both buyers and members. Our proprietary system provides listing members with access to the buyers' 24-month track record and post-close peer-to-peer rating, which is not available on any other real estate platform. This creates accountability and gives you the reassurance that the buyer can perform.

Through our rating system, you can see how buyers transact, including their deposit being made on time, timely removal of contingencies, re-negotiations, and closing on time. This information provides valuable insight into a buyer's track record and can help you make more informed decisions.
Broker value add
  • Did you know that 22% of investor-type properties sell for an average of $50,000 less than what we offer? As a broker, it's crucial to ensure your agents protect the seller's best interest. Off-market sales and agents double-ending deals can create potential liabilities for your brokerage.
  • We understand why agents choose this path – to maximize their earnings. However, we have a solution that allows your agents to ethically double-end their off-market deals while still maximizing the seller's net profit.
  • Our platform empowers your agents to achieve the best possible outcomes for both themselves and their clients, all while reducing the risks associated with traditional off-market transactions. By leveraging our innovative solution, your brokerage can excel in a competitive market and uphold the highest ethical standards.
Agent/Broker
How can wholesalers benefit from using FairClose?
Wholesalers can benefit from using FairClose by accessing a diverse, verified, and qualified investor-buyer network. The platform allows for easy negotiation of multiple competing offers and helps wholesalers net the highest price. Licensed wholesalers can monetize their buyer's list by inviting buyers to FairClose and agreeing on a “buyer referral fee” for each transaction. They can also earn affiliate fees by referring other members to the platform, receiving 20% of any fees collected by FairClose for that member.
How does FairClose verify and validate properties listed by wholesalers?
FairClose verifies and validates properties listed by wholesalers through a process that includes local third-party market experts, FairClose analysts, and confirmation that the wholesaler has the contractual right to sell the property. This information is not shared with buyers and is used solely to ensure that the wholesaler can legitimately sell the property and that it is not part of a daisy chain. This process guarantees the accuracy and reliability of property information on the platform.
What measures does FairClose take to ensure data privacy and security?
FairClose takes data privacy and security very seriously. The platform uses advanced technology to protect buyer identities and relationships until an accepted offer is in place. The invite-only nature of the platform guarantees that all parties involved in the transaction are trustworthy and verified. The terms and conditions also serve to protect the relationship with buyers, ensuring data privacy and security.
Should I be worried about uploading my buyers to FairClose?
FairClose employs advanced AI and ML technology to identify potential buyers based on their purchase and sale history. Although we possess detailed information about these individuals, we don't have the personal relationship that you share with your buyers. To protect your relationship and secure potential referral fees, we recommend adding your buyers to FairClose before someone else invites them. Keep in mind that only the first invitation a buyer accepts will result in a "buyer referral fee," which is negotiated between the inviting member and the buyer.
Can FairClose steal my buyers?
Your buyers are protected by the terms and conditions and remain on your list as long as you are a member. FairClose is a neutral, non-competing platform that does not invite buyers or members.
Can buyers go directly to the seller and bypass me on FairClose?

FairClose employs advanced AI and ML technology to track certified buyers and their transactions. If a buyer purchases a property posted on FairClose without your involvement, our technology will track the property and the buyer. Our terms of use allow us to give the buyer a bad rating, and you can pursue the buyer for any fees owed. For more details, please review our Terms and Conditions on App.Fairclose.com. Note that the www.Fairclose.com terms and conditions are a lighter, public version.

How can agents/brokers benefit from using FairClose?
Agents and brokers benefit from FairClose by gaining access to an exclusive, invite-only platform featuring verified off-market residential properties. The platform allows them to efficiently connect with potential clients, streamline communication, and close deals more quickly.
Can an agent/broker double-end theirs on or off-market properties?
Yes, agents and brokers can choose to double-end their on or off-market properties. When they have the top-paying buyer on their own list, the listing agent or broker does not pay tech fees, only the buyer pays a $1000 tech fee at the close of escrow.
How does FairClose help agents/brokers monetize their buyer's list?
FairClose enables agents and brokers to monetize their buyer's list by connecting them with suitable properties. The platform matches properties to buyers based on their specific buy box, allowing agents and brokers to make more deals and increase revenue. Keep in mind that only the first invitation a buyer accepts will result in a "buyer referral fee," which is negotiated between the inviting member and the buyer.
How does FairClose protect agent/broker relationships with their clients?
FairClose protects agent/broker relationships by maintaining the confidentiality of buyer identities and relationships until an accepted offer is in place. The platform's terms and conditions also safeguard the relationship with clients.
What security measures does FairClose have in place to protect agent/broker data?
FairClose uses advanced technology to ensure data privacy and security. The platform is invite-only, which guarantees that all parties involved in transactions are trustworthy and verified. Additionally, FairClose has strict terms and conditions in place to protect agent/broker relationships and data.
Agent value add
  • Are you overwhelmed by the number of investors calls you receive?
  • Imagine if you could seamlessly integrate them into fairClose through your affiliate link, earning $1,000 every time they purchase a property on our platform.
  • Consider your valued buyers, such as (LLC names). By adding them to your buyer's list with your affiliate link, you'll earn an additional $1,000 for every property they buy on fairClose.
  • The best part? You'll enjoy the benefits of double-ending each off-market deal, no matter who makes the purchase. With no sign-up or monthly fees, we only charge for the value we provide. That means if a buyer on your list purchases your listing, you won't have to pay the $1,000 tech fee.
Wholesaler
How do realtors/brokers benefit?
Wholesalers can benefit from using FairClose by accessing a diverse, verified, and qualified investor-buyer network. The platform allows for easy negotiation of multiple competing offers and helps wholesalers net the highest price. Licensed wholesalers can monetize their buyer's list by inviting buyers to FairClose and agreeing on a “buyer referral fee” for each transaction. They can also earn affiliate fees by referring other members to the platform, receiving 20% of any fees collected by FairClose for that member.
How does FairClose verify and validate properties listed by wholesalers?
FairClose verifies and validates properties listed by wholesalers through a process that includes local third-party market experts, FairClose analysts, and confirmation that the wholesaler has the contractual right to sell the property. This information is not shared with buyers and is used solely to ensure that the wholesaler can legitimately sell the property and that it is not part of a daisy chain. This process guarantees the accuracy and reliability of property information on the platform.
Can wholesalers post properties without a license?
Yes, To maintain the integrity of the platform, FairClose requires that wholesalers have a valid real estate license to post properties. This ensures that all parties involved in transactions are knowledgeable and adhere to industry regulations.
How does FairClose protect wholesaler relationships with their clients?
FairClose protects relationships by using proprietary technology to keep buyers organized and ensure that the member who invited each buyer is protected. The system keeps buyer identity and relationships confidential until an accepted offer is in place. Additionally, FairClose has terms and conditions that each member and buyer agrees to, which protect the relationship between wholesalers and their clients.
What security measures does FairClose have in place to protect wholesaler data?
FairClose takes data privacy and security very seriously. The platform uses proprietary technology to keep buyers organized and protect their identity and relationships until an accepted offer is in place. The platform is only available to invite-only members, ensuring that all parties involved in transactions are trustworthy and verified. FairClose's terms and conditions also protect wholesaler relationships with their buyers, ensuring data and privacy are well protected.
How can wholesalers benefit from using FairClose?

Wholesalers can benefit from using FairClose in several ways:

No sign-up fee and no monthly fee: FairClose only invites wholesalers who bring value to the marketplace, offering a cost-effective platform for promoting properties.

Monetizing buyers' list: Licensed wholesalers can invite their buyers to FairClose and agree on a referral fee for each transaction, benefiting every time their buyers purchase a property from the platform.

Diverse, verified, and qualified investor buyer network: All buyers on FairClose are certified, providing a reliable pool of potential buyers.

Easily negotiate multiple competing offers and net the highest price.

Earn affiliate fees by referring other members: Wholesalers receive 20% of any fees collected by FairClose for each member they invite.

How does FairClose protect wholesaler relationships with their clients?

FairClose protects relationships through several measures:

Proprietary technology: The platform keeps buyers organized and ensures that the member who invited each buyer is protected.

Confidentiality: Buyer identity and relationships are protected until an accepted offer is in place.

Terms and conditions: Each member and buyer agrees to the terms and conditions, which protect the relationship between wholesalers and their clients.

Handling multiple invitations: If a buyer receives multiple invitations, the licensed member who gets the buyer to accept the invitation and agrees to the referral will get paid for all the transactions of the buyer.

Streamlined process for additional invitations: If a member who has already accepted a previous invitation receives another invite from a new member and accepts it, the system will copy the buyer's buy box, so the buyer doesn't need to fill out more information.

What security measures does FairClose have in place to protect wholesaler data?
FairClose takes data privacy and security very seriously:

Proprietary technology is used to keep buyers organized and protect their identity and relationships until an accepted offer is in place.

The platform is only available to invite-only members, ensuring that all parties involved in the transaction are trustworthy and verified.

Terms and conditions protect the relationship between wholesalers and their buyers.
Should wholesalers be worried about uploading their buyers to FairClose?
FairClose uses advanced A.I. and M.L. technology to identify every buyer who has purchased or sold a property in the nation for the last 5 years. While detailed information is available on their agents, lenders, and title companies, FairClose does not have the personal relationship that wholesalers have with their buyers. Unless buyers exclusively purchase from the wholesaler, it is suggested to add them to FairClose before someone else does.
Can FairClose steal wholesalers' buyers?
Wholesalers are protected by the terms and conditions, and buyers remain in their list as long as they are members. FairClose does not invite buyers or members, as it is a neutral, non-competing platform.
Can buyers go directly to the seller and bypass the wholesaler on FairClose?
FairClose uses advanced A.I. and M.L. technology to track all certified buyers using their buying entities. If a buyer purchases a property posted in FairClose without the wholesaler's involvement, the technology will track the property and the buyer who purchased it. FairClose's terms of use allow giving the buyer a bad rating, and the wholesaler can pursue the buyer for any fees owed. For more details, please check the Terms and Conditions in the App.Fairclose.com; the www.Fairclose.com terms and conditions are a light public version.
For Sale by Owners (FSBO)
How do I list my property as an FSBO on FairClose?
To list your property as an FSBO on FairClose, simply create an account, provide details about your property, upload photos, and submit the listing. Our platform will then match your property with interested buyers based on their preferences.
Are there any sign-up fees for listing my property as an FSBO on FairClose?
No, there are no sign-up fees for listing your property as an FSBO on FairClose. Our platform is designed to make the selling process as cost-effective as possible for homeowners.
Do I have to pay any commissions when listing my property as an FSBO on FairClose?
No, there are no commissions when listing your property as an FSBO on FairClose. Our platform is designed to help you save on traditional agent commissions.
Are there any fees associated with selling my property as an FSBO on FairClose?
The only fee associated with selling your property as an FSBO on FairClose is a small $1,000 close of escrow fee. This fee helps cover the costs of maintaining and improving the platform, ensuring a seamless experience for both buyers and sellers.
How do I handle negotiations and the closing process as an FSBO on FairClose?
When you receive an offer on your property through FairClose, you can accept, reject, or counter the offer directly within the platform. Once you and the buyer agree on the terms, you'll be connected to finalize the purchase agreement and proceed with the closing process. This includes selecting an escrow company, handling inspections, and completing any necessary paperwork.
What if I already have an agent? Can I still list my property as an FSBO on FairClose?
If you already have an agent, your agent can post the property on FairClose on your behalf. In this case, you and your agent will need to adhere to the terms and conditions of your existing contract. It's important to discuss your plans to list on FairClose with your agent and ensure they're on board with using the platform to market your property.
Glossary

Affiliate: Strategic partners who can invite members and buyers to join FairClose.

A.I.: Artificial intelligence. Refers to the use of computer algorithms to perform tasks that typically require human intelligence, such as recognizing patterns or making decisions.

Buy box: A set of criteria that buyers use to filter and search for properties that fit their needs and preferences.

Buyer: Refers to a person or entity looking to purchase a property listed on FairClose.

Buyers Member: Refers to a member who represents or invites a buyer to join FairClose.

Buyers offer: Refers to the offer made by the buyer for a property listed on FairClose.

Cash buyer network: A network of buyers who have cash on hand or approved loans to purchase properties without the need for financing contingencies. 

Certified buyers: Buyers who have been verified and vetted by FairClose, ensuring that they are qualified to purchase properties on the platform.

CloudCMA iBuyer connect: A service that connects real estate professionals with iBuyers, which are companies that purchase homes directly from sellers using technology.

Double-end: When a real estate agent represents both the buyer and the seller in a transaction.

Escrow: A neutral third-party that holds funds and documents during a real estate transaction until all conditions are met and the sale is finalized.

FSBO: For Sale By Owner. Refers to properties that are being sold directly by the owner without the help of a real estate agent.

Inviting member: Refers to a member who invited a buyer to join FairClose.

Listing Member: Refers to a member who lists a property on FairClose. This can be a wholesaler, agent, or FSBO.

M.L.: Machine learning. A type of artificial intelligence that allows computer systems to learn and improve from experience without being explicitly programmed.

Member: Refers to agents/brokers, wholesalers, and sellers who are registered with FairClose.

MLS: Multiple Listing Service. A database of properties for sale that is shared among real estate agents and brokers.

Monetize: To earn money from a resource or asset, such as a buyers list.

Off-market: Properties that are not listed on public real estate websites or the Multiple Listing Service (MLS). These properties are usually sold by invitation-only to a select group of buyers.

Peer-to-peer rating system: A system in which members can rate and review each other's performance in the buying or selling process, providing added accountability and transparency.

Platform Tech Fee: Refers to the fee paid by the listing and buyer members for using the FairClose platform, which is deducted at the close of escrow.

Seller Net offer: Refers to the net price the seller receives after deducting the inviting member's referral fee.

Terms and conditions: The rules and guidelines that govern the use of a platform or service.

Terms of use: The legal agreement that governs the use of a website or service.

Top paying buyer: Refers to the buyer with the highest meeting offer for a property.

Verified sellers: Sellers who have been confirmed to be legitimate and trustworthy by FairClose.

Wholesalers: Real estate professionals who purchase properties at a discount and sell them to investors at a markup.