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A few weeks before our investigation into HomeVestors of America came out, the “We Buy Ugly Houses” company’s leadership called an online meeting for its 1,100+ franchisees.
The purpose of that meeting: Teach franchisees how to push back on our story. 🧵👇👇
The purpose of that meeting: Teach franchisees how to push back on our story. 🧵👇👇
2/ “Our goal is to bury it,” HomeVestors CEO David Hicks said about ProPublica's investigation:
propublica.org/article/homeve…
propublica.org/article/homeve…
3/ We acquired a full recording of the meeting.
In it, HomeVestors leadership alternates between accusing us of writing “attack articles” and praising the thoroughness of our reporting.
“It’s amazing what they have brought up,” Hicks said.
In it, HomeVestors leadership alternates between accusing us of writing “attack articles” and praising the thoroughness of our reporting.
“It’s amazing what they have brought up,” Hicks said.
4/ Early in the meeting, Hicks warned attendees not to click on our article once it’s out:
6/ Maren Kasper, managing director at Bayview Asset Management, the investment management firm that bought HomeVestors in 2022, also spoke during the meeting.
“They've done, you know, good reporting, I would say,” she said.
“They've done, you know, good reporting, I would say,” she said.
7/ The company leadership laid out a plan to place “strategic ad buys on social and web pages” to combat our reporting.
They also announced a ban on some of the practices our reporting brought to light.
They also announced a ban on some of the practices our reporting brought to light.
8/ As of April 11, franchisees are no longer allowed to "cloud" sellers’ titles – a maneuver that makes it more difficult to back out of a sale if you find a higher bidder.
Experts told us clouding titles is a predatory practice.
Experts told us clouding titles is a predatory practice.
9/ “This is going to make us a better company,” Hicks concluded:
10/ A few days after the webinar, HomeVestors sent its franchises an email unveiling a web page to address and counter ProPublica’s story.
The email contained a warning: “Don’t get baited into arguments or ‘off the record’ conversations.”
The email contained a warning: “Don’t get baited into arguments or ‘off the record’ conversations.”
11/ If you have a tip you’d like to share about HomeVestors or another player in the world of real estate investment, please do so here: propublica.org/getinvolved/he…
12/ Read the full story on HomeVestors plan to "bury" the ProPublica report here:
propublica.org/article/homeve…
propublica.org/article/homeve…
13/ And get the full investigation from @AnjeanetteDamon @ByardDuncan & @mrsimon22 that HomeVestors didn’t want people to click on here:
propublica.org/article/ugly-t…
propublica.org/article/ugly-t…
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