In this guide, we'll cover how to manage offers on your listings as a listing agent. More specifically, we'll dive into how to view offers, expired offers, and how to take action on an offer.
You've just launched your listing, congratulations! As you prepare for incoming offers, here's a quick guide to help you manage offers in Openn.
At a Quick Glance:
View Offers on the Timeline Tab
1. Once you launch your listing, you'll land on the Property Details page under the Timeline tab. The timeline will display any offers submitted on the property - with the most recent offer at the top of the list.
Offer Comparison Grid
1. When you click on the Offers tab within a property page, you'll see an Offer Grid, which lets you easily compare offers and identify the strongest offers for your clients at a quick glance.
The offer grid will display the following information (from left to right):
- Offer Status (Not Verified, Action Required, Verified, etc.):
- Agent Name
- Financing (Conventional, Cash, etc.)
- Offer Price
- Closing Date
- Details (click on the eye icon to see the details of that offer)
Click on the Filter drop-down list to sort by the different offer stages, such as offers that have been verified, offers that require action, expired offers, etc.
Click HERE for more sorting and filtering tips.
How to View Offer Details & Take Action on an Offer
1. As offers start to roll in, you'll see a red notification on the Offers tab to indicate the number of incoming offers. In the example below, there are ten (10) incoming offers. To view more details about an offer or take action on an offer, click on the eye icon under the Details column.
2. Once you select the eye icon under the Details column, the Offer Details screen will appear, where you can see the offer terms and the buyer agent's contact information. Depending on where the offer stands, the offer details will slightly vary, as shown below.
Pending Offers: If the offer status is "Pending", it means the buyer has approved the offer and has submitted the offer for the seller's review. The Offer Details screen will give you the option to "verify" the offer, which places the offer into the negotiation within Openn.
You can also request a buyer agent to "Resubmit" a pending offer. This option is typically used if the offer is missing important details and there is additional information needed in order to verify the offer. If you click Resubmit, you'll see the following page, where you'll have the opportunity to share your reasonings with the buyer agent.
Verified Offers: If the offer is already verified, this means the offer has been reviewed by you (the listing agent) and has been shared with the seller for consideration. At this point, you'll see the option to "counter" the offer at the bottom of the Offer Details screen.
Buyer Invited: If the buyer hasn't approved the offer yet, the Offer Details screen will prompt you to "Reinvite" the buyer to approve the offer terms.
If you want to see the terms and conditions of a particular offer, click on the eye icon on the Offer Details screen.
1. You'll notice expired offers displayed on the Offers tab are grayed out and have a black circle under the Status column to indicate that the offer has expired.
Under the Timeline tab, you'll notice any expired offers are labeled underneath the Date/Time column, as illustrated below.
How to Accept an Offer
1. When your seller is ready to accept an offer, click Accept Offer on the right-hand side of the Property Details page.
2. You’ll notice the highest offer will automatically appear in the text box. However, if your seller is going with a different offer, use the pull-down tab to select the correct offer, and click Next.
3. A confirmation page will display to ensure you are ready to proceed. Once you select OK, this will immediately notify all parties that their offer was accepted. Now, it's time to celebrate the good news with your sellers!
Note: Once you accept an offer, a separate email will be sent to notify any participants in the negotiation that their offer has not been accepted.