Off Market – Nextra

Off market flow

When an agent submits an offer request for an off-market property, ESO:

looks up and inserts property details into the inventory_properties table
awaits agent confirmation of property details
creates an offer request in the offer_requests table, linking the property to the agent profile and property details
ingests any property images to be stored in a private bucket

Upon successful submission, ESO pushes the offer request to SL via the API it provided:

ingest-eso-v2.sh

curl -X POST \
  -H "Content-Type: application/json" \
  -d '{
    "address": "123 Main Street",
    "city": "Springfield",
    "state": "IL",
    "zip": "62704",
    "status": "Available 2",
    "sqft": 1500,
    "asking": 250000.00,
    "beds": 34,
    "baths": 2.5,
    "yearBuilt": 1990,
    "propertyType": "Residential",
    "recordId": 333, // this is inventory_property_id in our system
    "lastModified": "2024-05-22T14:35:00",
    "meta": {
      "pool": "In-Ground Pool",
      "stories": 2,
      "lotSizeSqft": 5000,
      "numCoveredSpaces": 3,
      "hoa": "Yes",
      "hoaFee": 150.0,
      "hoaFrequency": "Monthly",
      "ageRestrictedCommunity": "No",
      "ageOfRoof": "5 years",
      "constructionType": "Brick",
      "basementExists": true,
      "basementFinishedSqft": 1000,
      "basementUnfinishedSqft": 500,
      "solar": true,
      "solarLeased": false,
      "solarPaidOff": true,
      "acUnitAge": "2 years",
      "waterHeaterAge": "3 years",
      "additionMade": "No",
      "occupancyStatus": "Owner Occupied",
      "comments": "Well-maintained property"
    }
  }' \
  ec2-3-235-170-15.compute-1.amazonaws.com:8055/rei/ingest-eso-v2

Analysts will then be able to underwrite the property in SL. Upon completion of the underwriting, the analyst will push the property to the buyers. SL will make the following call.

push-assumptions.sh

curl --location 'https: //v2.easystreetoffers.com/api/services/spatial-laser/off-market?token=<TOKEN_PROVIDED>' \
--header 'Content-Type: application/json' \
--data '{
    "property": {
        "sl_id": 1, // used during click through
        "inventory_property_id": 333 // this is the inventory_property_id in our system
    },
    "assumptions": {
        "ff_arv": 100,
        "ff_renovation_cost": 100,
        "inventory_property_id": 333, // this is the inventory_property_id in our system
        "ltr_annual_rent_increase": 100, // % increase
        "ltr_arv": 100,
        "ltr_monthly_rent": 100,
        "ltr_renovation_cost": 100,
        "property_annual_hoa": 100,
        "property_annual_tax": 100,
        "reno_items": [
            {
                "item_name": "wall",
                "reno_for_strategy": "str",
                "amount": 100
            },
            {
                "item_name": "kitchen",
                "reno_for_strategy": "ltr",
                "amount": 100
            },
            {
                "item_name": "carpet",
                "reno_for_strategy": "ff",
                "amount": 100
            },
            {
                "item_name": "bedroom splitting",
                "reno_for_strategy": "rr",
                "amount": 100
            }
        ],
        "rr_arv": 100,
        "rr_baths": 100,
        "rr_beds": 100,
        "rr_renovation_cost": 100,
        "rr_weekly_rent_per_room": 100,
        "str_arv": 100,
        "str_renovation_cost": 100,
        "str_season_1_daily_rate": 100,
        "str_season_2_daily_rate": 100,
        "str_season_3_daily_rate": 100,
        "str_season_4_daily_rate": 100,
        "fvm": 290000
    }
}'

Required property fields

sl_id: the SL ID of the property
inventory_property_id: This was sent as recordId in the original call to SL. It is the ID of the property in the inventory_properties table.

Required assumptions fields

The following fields are required for the assumptions object of any strategy:

property_annual_hoa
property_annual_tax
reno_items

Reno items

The reno_items field is an array of objects. Each object has the following fields:

item_name: name of the item
reno_for_strategy: the strategy that the item is used for
amount: the cost of the item

Required fields for each strategy

LTR strategy
- ltr_annual_rent_increase
- ltr_arv
- ltr_monthly_rent
- ltr_renovation_cost
STR strategy
- str_arv
- str_renovation_cost
- str_season_1_daily_rate
- str_season_2_daily_rate
- str_season_3_daily_rate
- str_season_4_daily_rate
RR strategy
- rr_arv
- rr_baths
- rr_beds
- rr_renovation_cost
- rr_weekly_rent_per_room
FF strategy
- ff_arv
- ff_renovation_cost

On-Market Media