March 19 2020 Uber IPO
Thousands of millionaires are about to flood the real estate market, if you missed the article, Uber is about to IPO. We offer no suggestion for your ability to capitalize on that one, race to the finish!
Humor aside, It is safe to say that buyer competition for Bay Area Real Estate is still on the rise! We’re going to cover a few simple ways that top producing Listing Agents take control of the offer process. We’ll go over some of the current challenges with managing the offers process, and of course, the new tactics and tools that top agents and teams use to expedite the busy work, monitor diligence behavior, and keep sellers educated on each offer submission and the history of the interested buyers.
The stakes are high.
Offers are undoubtedly the most sensitive part of a real estate transaction. When time-to-close can be the difference between your ability to manage another 1-3 sales each year, every detail matters, which is why we created Offers by Disclosures.io.
Offers, helps agents you want to foster interest and competition in the listing so that all offers are made at the same time, allowing you to draw the best offers for your clients.
We’ve helped thousands of agents submit and receive offers through Disclosures.io. As a Listing Agent, it’s critical to set clear expectations with all of the interested Buyer parties. Make sure to address these three questions:
When are you accepting offers?
What information and documents should be included with each offer?
How do you want to receive the offers?
Put it in the Coversheet
The top Listing Agents who use Disclosures.io, set clear expectations from the start by using Disclosures.io’s Coversheet Editor to communicate exactly how they want to receive offers. In the simple example below, you’ll see how the Listing Agent included a link to our How To Submit Offers video, which is helpful for Buyer’s Agents who are new to Disclosures.io.
Broadcast Your Message
Once you have interested Buyer Parties reviewing your disclosure package, you’ll want to let them know when you will be receiving offers. Listing Agents can use the Broadcast Message feature, in Disclosures.io, to easily send a message out to all of the buyer agents who have access to the disclosure package. In the example below, the Listing Agent is sending out a reminder to submit offers. The Message feature in Disclosures.io is perfect for this because you can broadcast your message out to everyone bcc, so no one knows who else is interested in the listing.
Instant Offer Notification
As soon as an offer is submitted through Disclosures.io, you’ll receive an email and text message notifying you of the new offer. The notification will take you to your Offers Dashboard, where each offer will be displayed and the terms can be compared side-by-side. For every agent who’s tired of digging through attached PDFs in email to find the terms of each offer, this feature is for you!
The Offers Dashboard is best used as an aid in the conversation that you have with your Seller about the merits of each offer. It’s a simple visual tool that will help you to explain why one offer is strong and another, less so. The best part is that it’s all automatic when you use Disclosures.io, no longer do you have to create a spreadsheet to compare the terms of each offer.
You may ask, what if an agent chooses not to submit offers through Disclosures.io and ends up emailing the offer? Don’t worry, we’ve got you covered. You can easily upload their offer manually. That way, you can still use the Offer Dashboard to compare all of the offers side-by-side.
Review Offer Details and Documents
Offers in Disclosures.io, don’t just have the high-level terms, they include the offer letter and all of the offer documents (Purchase Agreement and signed disclosures). This allows you to fully evaluate each offer and get into contract all within one organized platform.
From the Signing Table to In-Contract, FAST
Once you’ve accepted an offer and are in-contract, you can easily push the contract documents and disclosures from Disclosures.io into your preferred Transaction Management software. In case you missed it, here’s some info on our integration with DocuSign Rooms for Real Estate.
It’s that simple. When you set clear expectations with the buyer agents that you work with, you’ll be able to better organize your offers process and provide the white-glove experience that your clients have come to know you for.
If you aren’t using Disclosures.io yet, you can start with a free account by going to our home page, and clicking signup in the top right corner. If you need help getting started, check out this video. If you want to bring the consistency, compliance and efficiency of Disclosures.io to your brokerage, hit us up at firstname.lastname@example.org.