Subscribe
Share
Share
Embed
Welcome to the Gold Coast Smart Real Estate Podcast—the ultimate guide to navigating one of Australia’s most dynamic and competitive property markets. Hosted by Brad Scott, Principal of Smart Real Estate with nearly two decades of experience, this podcast is your trusted resource for making smarter property decisions.
Whether you're buying, selling, investing, or simply wanting to stay informed, each episode delivers practical advice, innovative strategies, and expert insights tailored to the unique Gold Coast property scene. From market trends and maximising investment returns to insider tips for selling your home quickly and for top dollar, Brad covers it all.
Hit subscribe and join the community of "Smart" Gold Coast buyers and sellers transforming their real estate journeys. For more resources, visit www.smartrealestate.com.au or connect with Brad on Facebook, YouTube, and Instagram. Your next smart move starts here!
Do you ever feel like auctions are just too stressful? Or that private treaty sales leave too much uncertainty? Imagine a sales method that combines the best of both worlds. Offering transparency, fairness and results. That's what the Open Offers Method is all about.
Welcome to the Gold Coast Smart Real Estate Podcast. I'm Brad Scott, here to help you make smart moves in the Gold Coast property market. Whether you're thinking of buying, selling, or just staying updated, we deep dive into everything you need to know, from our market insights to our unique open offers method of sale.
A blend of auction and private treaty to give you the best of both worlds. Let's jump in.
Hello and welcome back to the Gold Coast Smart Real Estate Podcast. I'm Brad Scott, Principal of Smart Real Estate, and your trusted guide to the Gold Coast property market. In today's episode, I'm diving into one of the most innovative sales strategies on the market right now, the open offers method of sale.
If you've ever bought or sold a property, you know how overwhelming it can feel. Auctions can be high pressure, while private treaty sales often leave buyers wondering if they're missing out by not paying quite enough, and then finding out that they've just been pipped at the post by a few thousand dollars or so.
Then, the buyer regrets their final offer, and finding out that they missed out on the property of their dreams they've been searching for for so many months. Then, the dreaded realisation of having to go back to the mundane open house weekend property search. Buyers love telling me the tales of how they have now missed out on three properties, sometimes four, over the past six months.
Usually all for less than 10, 000. The open offers method bridges that gap, creating a system that's fair, transparent and empowering for both buyers and sellers. It's truly a win win solution for all parties involved. So what exactly is the OpenOffers sales method? Simply put, it's an online platform that allows buyers to submit offers in real time.
Sellers get a clear picture of all offers as they come in, creating a transparent and competitive environment. It's like having the excitement of an auction. Let me run you through the process, step by step. Listing the property. Once you decide to sell, we list your property on the market, just like any other sale.
Buyer registration. Interested buyers are invited to register their details on the online Open Office platform. Submitting offers. Buyers, locally, interstate and even internationally sometimes, can submit their offers at any time, 24 7, along with conditions such as deposit amount, pest and building clauses, finance and settlement terms.
Real time updates. As offers come in, both buyers and sellers 24 7, creating an open and level playing field for everyone. There's no hidden offers or private deals behind closed doors. Everyone is treated fairly and equally, giving them by the best possible chance to secure the property for a price they are happy to pay.
If it goes for more than your budget. Or, you think what it's worth, just let it go and look for the next opportunity. Final decision. The seller ultimately decides which offer to accept, taking both price and terms into consideration. There's no reserve price, and the seller can choose a lower priced, stronger termed offer, a higher priced conditional offer, if they're not happy with the price.
No surprises, no pressure. It's a streamlined, tech driven process that removes the stress of negotiation. While keeping everyone informed, transparently, 24 7. We compact a 3 month sales campaign into a short 2 3 week sales process. Great for sellers or tenants not wanting to do months and months of open homes, and great for buyers knowing relatively quickly where they stand with their offer.
So, why should you consider choosing the open offers method of sale? Let's talk about the benefits. For sellers, the open offers method offers unmatched transparency in communication. You're not left in the dark wondering if you're getting any offers or possibly the best deal. Every offer is right there in front of you, 24 7, on your mobile phone or computer.
For buyers, it's a chance to participate confidentially and also confidently with the terms they wish to offer. Knowing they're competing on a fair playing field and being able to see what other buyers are offering. All while having the ability to increase their offer at any stage right up until the deadline, usually within two to three weeks of starting.
The process also creates a competitive environment. When buyers see other offers coming in, they're more motivated to increase their offer again. which usually achieves a higher sales price for the seller. This process gives the power to the buyer in the negotiation process, not having to haggle with real estate agents back and forth, and not knowing what other buyers are also being haggled with behind closed doors.
And then at the end, it also gives the seller the power of being able to choose from any offers on the table, which is not necessarily the highest offer in most cases. Or the seller can choose to accept no offer. If none of the offers are acceptable to them, so it's better daily communication. More transparency and less stress or pressure when selling your largest asset.
The open offers method is ideal for properties in high demand areas, like many we see on the Gold Coast. It works particularly well for standalone three and four bedroom houses, which usually appeal to a broad audience and generally have a lot of competition. However, it can be tailored to fit almost any situation, making it a versatile option for sellers looking to maximise their results.
Here's an example. We recently sold a four bedroom family home in Ashmore. Using the open office method, we listed the property and invited all interested buyers from across the country to participate. Within days, multiple offers were submitted. Buyers could see where they stood in real time 24 7, and as the offers climbed, it created a healthy competitive environment.
In the end, the home sold for 10 percent above the initial asking price, with terms that suited the sellers perfectly. That's the power of open offers. Okay, let me cover off on some of the frequently asked questions. 1. How is this different from an auction? Well, unlike an auction, the open offers method doesn't require buyers to stand in a big crowd on site at the house or in a large room on auction day and bid under a lot of pressure.
Nor does this method dictate to the buyers that they must have a 10 percent deposit, be cash unconditional and settle in 30 days time. These terms simply don't match those of approximately 90 95 percent of buyers in the marketplace. In other words, as a seller, You're losing around 90 95 percent of your buyer pool compared to a traditional auction that has a lot of the large agencies push for.
It's an online offers process. It's more flexible and accessible and attracts 100 percent of the buyer pool, making it less intimidating for buyers. while still creating competition for the sellers. Two, is it suitable for all property types? While it works particularly well for high demand homes, it can be customised for almost any property.
We have had scenarios in the past where properties have been on the market for months and months with other agents and no written offers. In that time period, we come in changing the method of sale, and then we have multiple offers for a higher sale price in two to three weeks for that seller. If you're unsure, I'm happy to assess your personal situation and guide you on whether this method suits your property and is right for you.
What about privacy? Privacy is a priority for us, of course. Buyer's personal details are protected and only their offer amounts and whether the buyer's offer is conditional or unconditional are visible to other participants. The open offers method is changing the way we buy and sell real estate by making the process more transparent, fair and stress free for all concerned.
It gives the seller confidence they're getting the best price while helping buyers feel empowered and informed. If you'd like to learn more about how the open office method could work for you, let's have a chat. Visit my website at smartrealestate. com. au or give me a call to book in a free consultation.
Let's explore how we can make your next property sale smarter, easier and more successful. Thanks for tuning in to this episode of the Gold Coast Smart Real Estate Podcast. Don't forget to subscribe and I'll see you in the next episode where we'll cover even more tips and insights to help you navigate the Gold Coast property market.
Thanks for tuning into this Gold Coast Smart Real Estate Podcast. Remember, if you're thinking of selling, be smart. Explore your options and consider the power of OpenOffice's method of sale to maximize your result. Don't forget to subscribe so you never miss an episode. And if you found today's insights helpful, feel free to share with a friend.
Until next time, happy house hunting.