A strategic approach to private treaty sales for estate agents

Set Buyer Questions

Discover more about your prospects before they place their offer. Proof of Funds and ID is collected in advance to make sure the buyer is a suitable candidate to place an offer. Once they are approved they will be vetted further to help the agent make an informed decision when selecting the successful buyer.

Downward Bidding

Depending on the property you may wish for buyers to place bids higher than the current offer until you have reached a peak. To make sure you are capturing all prospects, you may consider turning on downward bidding to allow buyers to place a bid below the highest offer once you've hit the peak.

Flexibility

Alternatively, you could turn on 'Downward Bidding' from the offset and capture all leads. We would recommend you use this setting in line with the 'Minimum Offr' to capture the bidders with a higher intent to purchase. The minimum offer can be changed as higher offers are placed on the property.

Best & Final Offers

Based on the level of interest in a private treaty sale you can place a timeline to close out the sale in a mock auction format. Alternatively, you can quickly change the transaction type to auction based on the bidding situation.

Accepting an Offer

Before you accept an offer, you should review all the buying conditions to negotiate a better deal. The buyer offering a higher amount mightn't be the most suitable candidate because they have just applied for a mortgage. Whereby, the other buyer offering €5,000 less is cash funded. If the latter is more attractive you should use the highest bid to negotiate the best deal for your vendor.

Setting Timelines

At the acceptance stage, you can set a timeline for the deposit due date, exchange and completion date to keep the sale on track to successfully complete. The correct legal names, address and terms of sale are captured to draft the contract of sale which can be sent by the agent for signing via DocuSign.