How Does Offer Ranking Work in Realtair Sell?

With our make-an-offer process, agents can collect and manage their offers online and keep everything in one place. The newly added feature offer ranking is available to our Platform subscribers and their private treaty campaigns.

• Before you start
• Offer Ranking Page explained
  • Rank
  • Buyer Name
  • Offer
  • Offer Date
  • Condition
• Learning more about Offer Ranking - What can the agent do?
  
  a. Agent can request buyers to update their offer
  
  b. Agents can re-arrange the ranking by clicking update ranking
  
  c. Agents can add notes to each offer 
  
  d. Agents can generate and share a report for the vendor
  
  
• Make an offer process from the buyer’s perspective when offer ranking is enabled
• Will the buyer be notified if their ranks change?
• FAQ

Before you start

• Method of sale = Private Treaty (In the current version it is not available for other methods of sale such as auctions with offers enabled)

• Must tick “Enable offer ranking” in the Property Option section

• There are 3 additional options for agents

• Enable auto-ranking of offers means the buyer will immediately see their rank after they submit their offer. Offers will automatically rank themselves based on Offer Amount > Conditions > Date. Fewer conditions go first.

• Display the leading offer to public means whether a prospective buyer can see the top 1 offer in the ranking.

• Display the number of offers to public means whether a prospective buyer can see how many offers are in the published ranking. You can choose the minimum of offers you want to collect before displaying this. We set the default as 5, but you can change that.

Options	Prior to making an offer - Offer ranking details are always locked to buyers who haven’t submitted an offer	After making an offer
Enable offer ranking with no options		Prospective buyers can see how their ranking and offer only. They are not able to see the number of offers / the highest offer
All options ticked	Minimum number of offers hasn't been met Minimum number of offers has been met	Minimum number offers hasn't been met Minimum number of offers has been met
First option ticked
First 2 options ticked
First & Third option ticked	Minimum number of offers hasn't been met Minimum number of offers has been met	Minimum number of offers hasn't been met   Minimum of offers has been met
Last two options ticked	Minimum number of offers hasn't been met Minimum number of offers has been met	Minimum number of offers hasn't been met Minimum number of offers has been met

Offer Ranking Page explained

There are no offers submitted (Offer ranking view)

If there are offers submitted (manual, via REA or online), offer ranking view is visible to the agent

Withdrawn offers are not visible in the offer ranking

Rank

Offers are initially ranked by default based on the below

1. Dollar amount $ (from highest to lowest)

2. If the amount $ is the same, then by no. of Conditions (fewer conditions go first)

3. If the amount $ and number of conditions are all the same, then by date & time of submission (from oldest to newest)

Buyer Name

Primary Buyer Name / Company Name

Offer

Offer Amount submitted

Offer Date

When the buyer submits their offer, date & time updates if buyer updates their offer

Conditions

The number of conditions answered as part of the make-an-offer process. Only the following questions are counted on the Conditions:

Questions are counted on the Conditions.

• Is your offer subject to finance?

• Do you have a property to sell in order to complete this purchase?

• Is this offer subject to building/pest inspection?

• Is this offer subject to building inspection?

• Is this offer subject to pest inspection?

• Is this offer subject to review of Strata reports (if applicable)?

• Do you require Foreign Investment Review Board(FIRB) approval to purchase this property?

• Any additional conditions?

 

Learning more about Offer Ranking - What can the agent do?

Agent can request buyers to update their offer

Instructions on how

Request Offer Update - if you want to ask the buyers to update their offers 

1. Click Request offer update

2. Pop up to ask the agent to select the buyer/s where to send the email

   

3. The selected buyer/s receives an email to update their offer. Follow the prompt on the email to update the offer 

If the agent clicks the “Request offer update” button again

• Buyers who have not been asked to update their offer will be automatically ticked

• Buyers who have been asked to update their offer will have their requested date & time noted

Agents can re-arrange the ranking by clicking update ranking

1. Click Update ranking

2. See the offer ranking in edit mode. Note that new offers will be added automatically based on the default raking condition even when in edit mode.

3. Re-arrange the ranking by dragging the rows.

4. Click Cancel if you don’t want to save the changes you made.

5. Click Save as Draft if you are not yet ready to publish the ranking but want to save the current ranking you manually arranged.

6. Click Save and publish if you are happy to publish the ranking to the public.

Agents can add notes to each offer

Agents can add notes for each of the offer which can be a note on the buyer or the offer.

Notes will not be included in the vendor reporting

Agents can generate and share a report for the vendor

1. Click the Generate Report button.

2. You have the option to download the PDF report or send it via email. Only the top 10 offers will be included, with the conditions displayed for the top 3 offers.

3. When sending an email, you will see a list of the vendor and other recipients. We will automatically select the vendor who has not received the report yet. The vendor you have already sent to will be marked, and you can choose to send it to them again if needed.

4. You can send the report to other parties - admin team etc

5. We attached the report as a PDF when sending the email to the vendor.

6. Example of report

7. A few important notes:

1. 1. The ranking in the report is based on the latest saved draft ranking, If there is no draft, then it will be based on the Published ranking. If there is also no published ranking, then the report will just be based on whatever is displayed on the default sorting view.

   2. Active property offers refer to the total number of offers in the ranking. Deferred and Withdrawn offers are not counted.

   3. Previous offers refer to the Offer history wherein the Offer amount or Conditions were updated.

Make an offer process from the buyer’s perspective when offer ranking is enabled

Before making an offer, the prospective buyer knows the number of offers made and can't see the current highest offer

Prior to buyer submitting the offer they must tick and allow the offer to be made public

Your offer rank shows as Pending if auto-ranking is disabled by the agent or the updated ranking hasn’t been published by the agent. You will see your offer rank immediately if the agent enabled the auto-ranking or published a new ranking that includes the offer you made.

After submitting the offer, you will be redirected to the listing page with the below message “You can update your offer by clicking the button below to boost your chance of acquiring the property.” and you can see the update offer button

Will the buyer be notified if their ranks change?

Only the top 5 buyers will be notified when the buyer rank went down (e.g. from 1 to 2, from 2 to 5, from 5 to 7)
No email notification when

• The buyer rank went up (e.g. from 5 to 1, from 8 to 4)

• Or when you rank remains the same

FAQ

Lets say when you activate the PT without turning enabling  offer ranking and then you get lots of offers and decide to enable it - is there any email notification to those buyers that had made an offer offer ranking is now enabled ? No automatic emails but agents/admins can choose to broadcast an email from the announcement tab. Goto announcement, click create, add your message and choose your recipients.