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Innovative technology increases certainty of sale
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A fully digitised and automated sale process
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Buyers can place offers or bid in auctions
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Raymond Potterton is a respected estate agency operating since 1991 in Navan, with a speciality for agricultural, residential and commercial property. On 13 September 2020, they faced a major problem. An auction of 196 acres of farmland was scheduled to take place in a local car park on September 20. However, the government announced new restrictions to slow the spread of COVID, ruling out indoor and outdoor gatherings. After an extensive marketing campaign, how were they to keep the momentum gained, while at the same time ensuring a sale and best price for their client?
The solution was Offr! The Offr process provided the agent with a means to speedily move the auction online while preserving their buyer's trust. Sitting neatly in the bottom right corner of the agent's website, the powerful tool allowed the agent to complete a property transaction online. Stiff competition saw €2.5m paid online yesterday for a prime 196-acre farm in Slane. A new record for the largest deal through Offr. It also resulted in a brand new innovation. Raymond needed the flexibility to first invite indicative bids on the farm in multiple individual lots (Lot 1 and Lot 2), followed by indicative bids on the entire (Lot 3), before then deciding on the best route, with a final, binding round of bidding to close it out. All to ensure the best possible outcome for their client.
Having been contacted with just a week to go, the Offr team successfully developed the bespoke solution and quickly moved the auction from the original physical venue to a 100% virtual experience for all parties, including bidders and solicitors. Contract signed online and deposit paid online.