As the market conditions continue to shift, you need to start putting processes in place to look after your under-bidders at auction. In this week’s COTG, I raise with you the question around what post-exchange process do you have for those buyers who missed out, as you will need to call back on these buyers in future times to come.
Click to watch the video (or simply read the transcript) below to learn more.
Here is another Coaching on the Go Moment from real estate coach Caroline Bolderston.
I want to shine a light on a gap which I feel is present in the current market. This happens often in a boom or rising market, where we have a number of buyers who are desperate to purchase, however they keep missing out. These people are referred to as your under-bidders or your under-offer parties, if it is a private treaty situation.
So my question is this,
What is your process for your under-bidders or under-bidders at auction?
Are you giving them any post-offer or post-bidding service? There are many agents who aren’t. This is because there is a lot going on, the pace is fast at the moment and there are so many things to do. I have to assure you that if you do not look after these buyers right now, given we have already felt the start of the market shift, you are going to need these buyers. In 4-6 weeks, 2-3 months, you are going to need every possible buyer you can find.
If you haven’t already, it is time to figure out a post-exchange process for those who missed out. I’d love to see what you could plug into your processes here so you are not left floundering when you are going to need them.
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