How to sell using best offer
Best offer is Sale Ezy's online private offers system, underpinned by binding commitment. It has been designed to be easy to use, and can take the place of private treaty or tender for any property sale.
Using Best offer to sell your listing is Ezy! The instructions below will take you step-by-step through the process.
Don't forget, if you have questions or need more assistance, call your dedicated support partner on 1300 662 013, email us at firstname.lastname@example.org or try out our online chat (bottom right of this screen) between 7am and 8pm.
1. Start your account
So, you've decided you want to sell using one or all of Sale Ezy's online sales methods, great! Let's get started.
First step, use our online chat, email (email@example.com) or phone (1300 662 013) to have a quick talk to our friendly team so they can set up your online profile.
You'll be allocated a dedicated support partner who will become your first point of contact if you have questions.
2. List your property
With your account set up, go to www.saleezy.com.au, log in (top right corner) and then click 'list a property' in your profile. This will bring you to our listing form.
PREPARE TO LIST
Fill in all the mandatory fields in the listing form and any optional fields for which you have information.
Some things to look out for:
- You will need a minimum of four property photos
- You can embed or upload video or 3D tours
- You will need to set a 'minimum bid', a 'reserve' and dates for 'best offer' and 'final call' (see below) -- this controls your sale
- You will need to upload a copy of the contract (only visible to registered buyers) and a copy of your comparables (not visible to anyone)
- You can upload any other files for potential buyers -- audio, video, images, documents -- which will be visible on the listing
- You will need to include the vendor's details and their solicitor details for sales advice.
Once complete, submit the form (or save the draft for later). You can then select if you would like to purchase a digital marketing package or not, and then your property will be live immediately.
- Best offer: our private offers system. Set a start date and the property is available for offer until it sells, is passed in or withdrawn. You can also choose to have the property transition into final call after a period in best offer. Registered buyers submit private binding offers under auction conditions, and the sale ends when an offer is accepted.
- Final call: our public bidding system. Set the timer for an hour and allow registered bidders to submit public bids and compete against other bidders, the clock and your set reserve. At the end of the hour, watch 30 seconds each for 1st, 2nd and 3rd call (which remains on cycle until no more bids), and see the hammer fall at the end of 3rd call if the highest bid is above reserve. If the property doesn't sell, it transitions into best offer until sold.
- Minimum bid: in best offer and final call it is advisable you set a minimum bid in your listing form. Any offer or bid below the minimum bid will automatically be refused and not included in the bid log as the auctioneer deems it not in the best interest of the vendor or auction. Set your minimum bid to the bottom of your 10% range.
- Reserve: Like a stand up, traditional auction, your reserve (not displayed to anyone) dictates the price at which the property is 'on the market' during final call. If a bid is made equal to or higher than the reserve during final call, the property will sell.
3. Buyers register
Best offer will start at the time you set for it to start and it will run until the property is sold, or you withdraw or pass in the listing. You can also set it to transition into final call if it isn't sold at a certain point.
Once a buyer has seen the property (or sent someone to see it for them) instruct the buyer to visit the listing page on Sale Ezy again so they can register as a buyer.
You can send them to this page for simple instruction on how to register, make offers, bid and buy.
When they submit their buyer registration form, you will immediately receive an email asking you to view their attached picture ID and approve them to bid.
Once you click the button to approve them, they can begin making offers online straight away.
4. Receiving offers
Once the buyer is approved to make an offer, they can visit the property listing page on Sale Ezy , type in their offer and any conditions, and submit it.
Immediately, the bid log on the listing page shows an offer has been made, the bidder's number and time. It DOES NOT show the offer amount.
Also immediately, all other registered buyers receive an email notifying them an offer has been made and they should now also submit offers or potentially miss out -- they DO NOT know the value of the offer.
An email is immediately sent to the property owner informing them of the value of the offer.
An email is immediately sent to the auctioneer/agent/selling contact, with the value of the offer and any conditions, instructing them to seek written instructions from the property owner/company director as to how they would like to proceed.
5. Declining a condition
As the auctioneer/agent/selling contact, after receiving your email notifying you of the offer, go to saleezy.com.au, login, and within your profile, open the 'auctions and pricing' tab.
Select your property from the drop down to see the interactive bid log.
Within the bid log, you will see the offer and any conditions. With explicit written instruction from the property owner/director ONLY, access the condition and decline it. This will mean the offer can now no longer be accepted.
If there is no condition, but the offer is not acceptable, simply ignore the offer, it will be withdrawn by the buyer after 24 hours.
6. Accepting an offer
If the property owner/company director has received the offer (with any condition), you have spoken and they have sent you explicit instruction, in writing, that they would like to accept the offer and end the sale, you can do this on their behalf.
Go to saleezy.com.au, login and open the 'auctions and pricing' tab in your profile. Select your property from the drop down list.
In the interactive bid log, carefully click 'accept' next to the relevant condition, and then 'accept' next to the offer. Immediately, the hammer will fall and the property will be sold under auction conditions.
Each offer is valid for 24 hours only. If you don't accept within 24 hours, the offer is withdrawn.
NOTE: Be VERY careful you select 'accept' next to the correct offer. Once you accept any offer -- whether the right one or not -- the hammer will fall and the property is sold. The vendor and the buyer are legally obligated, under auction conditions, to proceed with the sale.
Congratulations -- your listing is now sold!
Note, in NSW, exchange and deposit payment must occur by the end of the day the property is sold. In other states, it must be initiated and occur immediately.
Exchange can occur in one of three ways:
- Traditional: Sales Advice is sent to both solicitors upon hammer fall and a copy of the contract is sent to them when a buyer registers. Solicitors can enact exchange immediately upon receipt of these emails. (Available to company vendor sale)
- Auctioneer signature: All buyers, when registering, sign an authority which permits the auctioneer to sign on their behalf should their offer be accepted or their bid be successful. Upon hammer fall, the auctioneer can sign the contract and exchange. (Only available to registered auctioneers).
- Signature page: The agent/property contact is sent an email when the hammer falls with instructions for exchange. Within the email is a link to a signature page. The auctioneer/selling contact can fill in the signature page and send to the buyer and seller to print, sign, scan and email back with the linked contract. They will also include a copy of a provided letter stating the original contract will be mailed via express post immediately.
If you are an agent/auctioneer, please ensure you discuss all options with your property owner and buyers prior to any offers being submitted and reach an agreement as to how they would like to proceed so there are no delays.
If your buyer would like to be present to sign the contract, contact them before accepting the offer, arrange a time to accept it (within 24 hours of its submission) and ensure the buyer is with you or their solicitor to sign the contract when the accept button is clicked.