Looking for an easier offer system

14 Replies

I'm looking to simplify the offer process when I want my Realtor to submit an offer for me. Currently, I'm filling out the sales contract and then scanning and emailing to him. He reviews to make sure "t's" are crossed and "i's" are dotted and then submits. This system works for now, but I want to vastly increase the quantity of my offers. I'm interested in hearing how you submit offers for your investors, or yourself, quickly and efficiently.
Thx
Eric

docusign, dotloop, zip forms etc. I personally have written all the deals up for investors I've worked with so they didn't have a bunch of paperwork to fill out. Another big help is finding out the average and lowest % to ask homes in the area are selling for in that area. Being it sounds like you're working with an agent on MLS properties I'm guessing (depending on your location), market stats will help you a LOT to avoid writing hundreds of rejected offers. But again that may depend on your location, just a thought.

I work with investors and I keep a template of their contract in my zipforms. I just add the property info and the price. Everything is already filled out (their contingency requirements, escrow and seller requests) takes me about 10 mins per offer. Your Realtor should be able to do the same for you. Unless every offer you want to submit is very different. Then that might not be efficient. 

Why isn't your Realtor preparing the documents for you? He is not a lawyer I don't know that you're getting much value from him "checking over" what you filled out.

I am a patient investor who waits to buy until I'm sure I'm at the bottom of a market. My commercial realtor typically sends a signed letter of intent (which is nonbinding but also just two pages) instead of a complete offer package to see if the seller is interested in our price and in closing fast. If they respond affirmatively we complete an offer package with the form contracts, disclosures, etc. via docusign. 

Find a realtor who's willing to earn his commission!    It's easy to set up a template in zipforms (and likely other digital signing systems) just for you, so all he/she would need to fill in every offer are the specifics to the deal.

If you're talking just getting initial feelers out, as in "Hey look, I want to offer $$$ on this home, send the paperwork." then have your Realtor use a quick "Letter Of Intent" provided/drafted by their Brokerage/Legal Team. 

Letter of Intents are normally 2 to 5 pages that are quickly and easily filled out by the Realtor, explains in plain english what you want to do with the Seller, and only if it's accepted by the Seller will it transform into an official 20 - 50 page offer that covers everything you need.  

Using a "Letter Of Intent" results in saving time, energy, and gives a more streamlined experience.

I 2nd @Jerome Harrod II and only offer via LOIs. I'm not a realtor, but I can customize and personalize the letter a little bit. I also offer 3 scenarios. Cash price, terms prices, etc. With a signed LOI, I can move to the full PSA. Good discussion @Eric Armstrong !

Hello all and thank you for your input.  

@Steve Vaughan and @Jerome Harrod II I have recently heard of the LOI idea, I'll look into it further. I'd be interested in hearing a little more detail about your 3 scenario's.

@Frank R. I'd like to get out 5-10 per week.

@Chris S. is zipforms a part of software a realtor has?  I'm not familiar with them.  Sounds like an easy way to do this.

Docusign sounds like a good plan as well.

Originally posted by @Eric Armstrong :

Hello all and thank you for your input.  

@Steve Vaughan and @Jerome Harrod II I have recently heard of the LOI idea, I'll look into it further. I'd be interested in hearing a little more detail about your 3 scenario's.

@Frank R. I'd like to get out 5-10 per week.

@Chris S. is zipforms a part of software a realtor has?  I'm not familiar with them.  Sounds like an easy way to do this.

Docusign sounds like a good plan as well.

Zipforms is provided by our local Realtor board as part of the suite of software that comes w/ MLS access. I suspect it's pretty similar to dousing and others. I use it b/c there's no extra cost to me, and it's easy to use.

We're sending out more offers than you are, but I built some custom stuff in Salesforce that's essentially a mail-merge into a pdf version of our Board contract.  It takes me about 10 seconds to create an email an offer!

Dotloop is another pretty good alternative because you can set up templates with their paid version.