To do after each bid is approved

The article explains what to do after each bid is approved




If you follow these instructions, and your bid does NOT attract interest from additional buyers within 7-14 days, your bid price is probably at/near market value for the property, and you should be talking to your seller about trying to secure the sale with your ‘sole bidder’ before they find another property.

 

Here are the essentials things to do AFTER a bid is approved. 

  1. Review/adjust the background price. Your background price should ALWAYS be above your bid price, but if you make your background price unrealistic, you may not get further interest in the property even if the bid seems low. Review your background price regularly and contact your coach if you want guidance.

  2. Update the price field in your ads to promote the bid.

    If your current bid is outside of 10% of your background price, follow this hack Web portal instructions after each bid is received to promote the bid.

     

  3. Update the property description to promote the bid and number of bidders in the top line.

  4. Review the minimum bid increment on openn.com.au.

  5. Consider if it's time to allow Registered Interest?

  6. Contact any other interested parties or those already registered for interest. Here is an effective SMS to use:


If your current bid is outside of 10% of your background price, follow this hack Web portal instructions after each bid is received to promote the bid. 

"Thank you for your recent interest in 123 Example Street. The current bid is <$X> and the seller is highly motivated to sell. Please confirm you are not interested in this property at <$X> or more so that we can move ahead with the sale. Regards, Agent." **Include a link to the advertisement as well**

If you are within 7 days of your Final Bidding Stage, you can adapt the above SMS to include your FBS date and time, as per below:

"Thank you for your recent interest in 123 Example Street. Our final bidding stage is scheduled to take place at <day/time>. The current bid is <$X> and the seller is highly motivated to sell. Please confirm you are not interested in this property at <$X> or more so that we can move ahead with the sale. Regards, Agent." **Include a link to the advertisement as well**

 

Remember, the property can sell at any time so it is not advisable for buyers to wait. Create an atmosphere of FOMO to encourage their starting bid.