This is a true story that happened to one of the, let’s say more popular, real estate agents in Perth.
Gavin, who’s identity we’ve chosen to protect, was having one of those days.
The top sales rep had received 125 buyer enquiries for the one property in a weekend and he was juggling a barrage of incoming calls, emails and texts.
Gavin is a machine but even this many buyers was too hot for him to handle – trying to keep all buyers up to date on what was happening with the property sale.
The challenge: manage the enquiries and lose his mind, or lose his hard-built reputation.
Gavin needed some help.
Protect and grow your reputation
Reputations, as they say, are hard earned and easily lost and Gavin had no intention of jeopardising future listing leads.
And in this market boom, this story is not uncommon for agents.
The number of enquiries flooding in combined with the challenge of keeping everyone up to date is simply too much for one person to deal with.
So, what is the bottom line risk for real estate agents unable to respond to the deluge of enquiries?
Well, aside from the risk of not being able to keep everyone informed which undermines trust in the buying process, it is the ongoing reputational damage to the agent and the heightened risk of losing future leads that is the real threat.
It’s a simple risk management approach – manage ALL the enquiries and you protect not only your hard-built reputation, but also your future listings.
Easier said than done we hear you say, especially in the middle of a market boom.
Well, the solution is not as complex as it appears and it can fit snugly in your back pocket.
The 21st century solution
RESO is an online offer, acceptance and contract management system which allows agents to manage a mountain of offers and fast-track sales.
Forget managing multiple communication channels, REIWA’s new “‘make an offer’ button on each listing allows potentially hundreds of buyers to liaise directly with reps.
In the RESO platform agents also get an immediate alert as soon as one of their invited buyers requests an appraisal for their own property or a desktop valuation.
Meanwhile they are also able to gauge the interest of a property and provide updates to the seller.
It’s a win for the buyer, the seller and the agent.
There is greater transparency of the offer process; agents can handle more offers; and most importantly, they can uphold their reputation and their stream of future listings.
Realmark agency executive director WA Scott Fletcher is a champion for digital change.
“I love RESO because it is simple and easy to use,” he said.
“It allows an agent to invite more buyers into the offer process in a friendly manner – removing barriers whilst providing an additional layer of transparency through its ‘ranking’ function when dealing with multiple offers.”
How it works
On all listings, the user will see the RESO button as the call to action on the listing page.
When the user clicks on the button, they are directed to a RESO page where they can enter their details and request to:
- Make an offer
- View the property documents
- Be kept up-to-date
The agent can then choose to contact the buyer directly, or get the buyer invited into RESO to make an offer online or view the property document.
Just by inviting buyers into a RESO sale, reps can automatically keep every buyer informed of any updates on the property sale.
All enquiries are passed to the relevant agent regardless and a RESO BDM will follow up with the agent to ensure there has been contact with the public user.
The agent /rep is then free to negotiate with the buyer as normal.
Originally posted on reiwa.com.au