Frequently Asked Questions - Real Estate Agents

Q. How much time will I save and how will my productivity improve if I implement the OfferNow process?
A. Our experiences indicate that a salesperson will have the ability to deal with at least twice as many buyers and, more importantly, close about 40% more actual sales. It is likely that many of the high achievers who currently pay out for PAís to do all the running around chasing up buyers and sellers will be able to save that cost.
Q. Do buyers get to see what any other personís offer is when two or more make an offer on the same property?
A. No, a buyerís offer is never disclosed to the other buyers.
Q. Is the offer binding?
A. No, the offer is not enforceable by the seller if the buyer has a change of mind. Once all the information has been collected and the deal points are negotiated to all of the partyís satisfaction, the agent should immediately form a contract and sign the parties up, remembering that at that stage you are dealing with both a willing buyer and a willing seller and the contract is now the easiest part of the process.
Q. Does the agent inform the seller of every offer that is made?
A. Yes, the agent should seek the sellerís instructions before responding to any offer.
Q. How does OfferNow cope with multiple offers?
A. The moment a second person makes an offer on a property they are automatically told there is multi offers. At the same time the system sends a message back to the first person who offered, warning that there are now multiple offers on that property.
Q. Does the seller have to get a copy of each offer that is made?
A. No, most sellers donít want see every step of the way and usually just like to be informed promptly by phone as offers come in.
Q. Can I just counter the offer from a buyer without talking to the seller?
A. No, best practice is to keep the seller informed at all times unless instructed otherwise
Q. Does the seller have to counter an offer with a price?
A. No, the seller can instruct you to respond with just a comment. There are a number of options for comments to cover typical seller reactions, or you can write your own.
Q. Does the agent have to get agreement online between the buyer and seller?
A. No. As the sellerís agent you should communicate all offers as they arrive. Once you believe that you have an offer that your seller will accept, you may choose to tell the buyer that their offer should be put on contract for presentation to the seller for final consideration, bearing in mind that it is the sellerís decision that counts
Q. Can I produce a Summary Report of all offers that have been made on a sellerís property?
A. Yes, you can print a Summary Report of all the offers made and also an exact copy of each individual offer and response.
Q. Is there any recorded buyer resistance to using the OfferNow process ?
A. No, in fact buyers have received this innovation with great enthusiasm and show no hesitation in having a go
Q. Can I connect the OfferNow function to my own web site ?
A. Yes, you can have OfferNow installed and fully functional on your own web site
Q. How does OfferNow work with a normal Auction program ?
A. It is a very strong addition to the normal auction process because:
  • Very often the auction property is sold before the auction date through the competition generated by OfferNow online offers and negotiations.
  • If the property has not sold by the auction date, both the agent and the seller will have a very good idea of the correct price through the OfferNow activity and there wonít be any nasty surprises.
  • The OfferNow form can be used to commence the buyerís registration for the auction if their initial offer is not accepted.
  • Buyers can register and Bid live online without attending the actual auction
  • You always get the highest price possible for your seller
Q. How does OfferNow work on project or off-theĖplan selling, when there is a non-negotiable price list?
A. When uploading a project to the web, simply select the Expression of Interest function and the system automatically replaces the OfferNow button with an Expression of Interest button, which in turn generates the appropriate form.

The Expression of Interest form does not facilitate buyers wanting to negotiate price but deals with the other variables that the developer requires to be addressed. These include complete and accurate collection of the buyers details, whether the Holding Deposit will be cash or Bank Guarantee, the particular Lot number that they are wanting, any choices of finishes, colours etc, all pending the provision of contracts.
Q. Whatís the difference between using the OfferNow secure web server versus exchanging ordinary emails to handle an enquiry ?
A. The primary differences between email and OfferNow are:
  • An email does not automatically produce an Offer or Bid in a proscribed form, leading to an unacceptably high risk of the parties not being properly informed as to all the deal points.
  • Without the full transparency and absolute clarity of OfferNow, the ability to negotiate a transaction in real time leading to a sale is severely compromised.
  • Email cannot deal with multiple offers in a way that makes all the participants comfortable that they are being dealt with fairly and yet makes them very aware that they are in a competition
  • An email does not automatically communicate utilizing SMS alerts and/or faxing.
  • An email does not securely record the changes made to an offer.
  • Email does not enable sellers and buyers to respond to or make an offer if they donít have an email account or web login.
  • Transactions negotiated by email are not recorded to a central secure web server that is properly managed and archived

© 2007 Offer Now Pty Ltd ACN 126 909 064. Uses Australian Patent No. 784981 to Create this secure online real estate transactional process.
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