No, RESO was the 1st online offer platform for Private Treaty sales - we do have tools to create competition but at no time does the platform disclose offer amounts to other Buyers. We believe this allows the Agent to remain in full control of maximising each Buyer’s best offer as well as opening the sale to 100% of the Buyer market rather than only the smaller percentage of Buyers who would be able to buy under Auction conditions. This ensures every buyer is given a fair and equal chance to offer competitively on the property and the Seller can make an educated decision based on all market competition.
No, RESO can support any sales campaign. Private sale, offers closing by date, price range, set price and auction campaigns. We make the tools available and you can choose the ones to best support the campaign that you are running.
No, however, we do integrate with most major CRMs. We are the missing piece between the initial offer and acceptance. If you do not operate with a CRM you can invite Buyers directly into a sale from RESO. Buyers against one sale can also be sent a bulk invitation inviting them from that sale to another within RESO - useful for new similar listings, off-market sales or property previews.
YES! we have made changes to now allow customised messaging to Buyers before they have accepted the sale invitation.
Either or both. This depends on what contact data has been entered in for the buyer. Once the Buyer has accepted though, they will receive both email and text messages at every stage of the sale.
Once in the sale, scroll down to the right and click on ‘History’ under ‘Email’ & ‘SMS’ Buyers. Here you can access both customised and auto message history for every Buyer invited into the sale.
Firstly, explain that RESO is designed to ensure every Buyer has the same information, updates and transparency around the sale process. If they are still unwilling, unlike other platforms; we have no mandate that offers must all be through the platform. However, you can submit an offer on a buyer’s behalf. This is particularly helpful for a buyer who may not be ‘tech savy’ (see next question below).
Yes, you can submit an offer on a buyer's behalf. It will then send them a message with the offer details, they simply click ‘confirm’ and the offer details are recorded in RESO on the offer dashboard along with your other offers.
The only way a buyer can get access to a sale is if an agent qualifies them and sends them a unique invitation link which once activated, tracks to their ISP. Agents are bound by terms and conditions and all activity is date and time stamped within the platform. The OFT can request these records at any time. If anything; offers in RESO are more credible due to these records and mitigates risk to the Agent or Agency.
There is no paperwork or signatures required. You simply send an invitation link, the buyer accepts your invitation, and creates a password. They then have 24/7 access to all property information that you have made available and to make and update their offer. Once an offer has been accepted - all of the questions asked of the Buyer can be automatically populated into a contract ( REI Forms Live SA, QLD, WA) ready for signing. Other states will still have detailed offer information ready for the next step in their process. All questions asked in the platform are in line with legislation and offer requirements for your respective state. Our Agents find that having a third party platform requesting this information ensures all offers come to them fully furnished with mandatory data.
There is no Vendor portal, however, you can share a live link where they can click on this at any time for a snapshot of buyer activity and the latest offers from every buyer. You can customise the report before sharing. You can also share/email a PDF Seller report which is a fully comprehensive report of all offers, terms and conditions from every Buyer as well as their initial offer and increases.
RESO allows you to customise a sale message to Buyers with any information regarding; the sale close date, price, special conditions etc. This will be displayed when the Buyer logs in to the sale. You can also create urgency and draw the sale to a close using customised SMS and Email templates. Buyers can submit and increase their offers as many times as they like prior to the close date.
What is to stop a Buyer from reducing their offer and resubmitting a lower amount after the ranking to minimise how much they need to increase against the competition?
1. Buyers cannot lower their offer on their own through the platform - they need to notify the Agent for their latest offer to be invalidated.
2. As mentioned above; the Agent is in full control of when and if additional ranking is actioned - ranking is not auto-responsive (like eBay)
No, information is only provided automatically through the platform if an Agent chooses to rank (on instruction from the Seller). However, now you can create a customised SMS, you can choose to text Buyers in bulk when an offer has been made to encourage them to make their offer.
No. The ranking is current only at the time the Agent ranks- new positions would only be shown if the Agent chose to rank again.
No, RESO at no time discloses how much you have offered to other buyers.
Yes, you are able to update your offers and/or conditions at any time until the end of the sales campaign.
Speak with the agent to ask for other options. You can ask the agent to submit an offer on your behalf. You will receive a message asking you to confirm the offer.
The only way a buyer can access a sale is if the agent provides a unique invitation link which once activated, tracks to their ISP. Agents are bound by terms and conditions verifying their use of the platform. RESO date and time stamps all activity from both the agent and buyer within the platform. The OFT or governing body in your state can request these records at any time.
You will receive an email once you have submitted your offer recording the details of your offer. The agent receives instant notification and will be in touch with you to advise of the next steps.
You can request that the agent remove you from the sale. Simply go to the ‘alerts tab’ for options and the agent will be notified.
YES, you are able to set and update notification preferences. Simply go to the ‘alerts tab’ for options.
RESO is designed to create fair and equal opportunity for all buyers. It ensures maximum demand is generated and buyer competition is increased resulting in the highest sale price. RESO means less time on the market as everything is in real time. Buyers can access RESO 24/7 to make and increase their offers as many times as they like. The agent receives instant notification and can prepare and send a contract for signing at the push of a button. The transparency of RESO Ranking creates competition, creating ‘a fear of missing out’, encouraging buyers to act quickly. As offer amounts are not disclosed, buyers submit how much they are willing. RESO means that there is no money left on the table.
Agents are updated instantly on all buyer activity and offers received. The agent can share this information at the push of a button from an auto generated report straight from RESO.'