Buyer competition leads to multiple offers, and that means good news and higher selling prices for your listing clients. It also means extra work for you, the listing agent.
It’s your job to keep track of those offers and help your seller chose the best one to accept or counter. In a hot market where you might receive 40 or 50 offers on a single listing, and when every one of those offers is in a separate file, the task can be complicated, confusing, and frustrating.
It’s easy to miss important emails or to fail to connect them to the proper offer. It’s even easy to miss entire offers when they’re attached to an email.
That’s why Brokermint expanded its transaction management function to include online offer management.
Your tasks become streamlined from the day you enter a new listing into the system.
First, you’ll receive a unique URL to enter in your MLS data with instructions to “Submit all offers to this link.” You won’t need to worry about missing an offer because it got lost in your in-box or because an agent mis-typed your address.
Once connected to the site, the buyer’s agent will submit the pertinent details, including the agent’s name and information, the buyer’s name and information, the offer price, the type of loan and lender, and notes. He or she will then attach documents, such as the signed offer, addendum, pre-approval letter, and anything else you’ve specified as necessary to the offer.
When the entry is complete, you and the buyer’s agent will each receive an email verifying that the offer has been entered.
This ends the confusion buyer agents sometimes have about where and how to submit their offers, and it gives them verification that the offer was received. It also reminds them of the necessary attachments.
You, as the listing agent, will be able to see all offers together on one screen, sorted by offer price. This is a list you can share with your clients as you review each offer and compare it to the others.
Next, you’ll be able to email the buyers agents from within the system – to accept, to reject, or to counter. Should you wish to ask some or all for a “highest and best” submission, you’ll have convenience of writing one message, then choosing multiple recipients before you hit “send.”
For your safety and for compliance, everything that’s entered into the site will be stored; including the attached documents and the emails you send and receive.
Once an offer is accepted, you can move the property from listed to pending. From there you can assign it a transaction checklist so you won’t miss a detail or a deadline as you begin working on the tasks leading to closing.
Brokermint online offer management also simplifies your work in the event of transaction fall-out.
A few clicks from you moves the listing back into the active listing portion of the system and adjusts the financial projections for both the agent and the company.
Another few clicks allow you to re-connect with one or all of those buyer agents whose offers were not chosen – without you needing to dig out files and hunt for their contact information. Again, you can write one message to let all of them know that the home is once again available and their offers will be welcomed.
Brokermint’s online offer management brings order to the chaos of multiple offers.
It puts everything in one place, eliminates the risk of lost correspondence, ends compliance worries, and puts time back in your day by allowing you to contact multiple agents with just one click. Then it integrates with the rest of the Brokermint system to further simplify your record keeping tasks.
Log in today and give the system a free trial run. Once you’ve used it, you’ll wonder how you ever got along without it.