Introduction
Offer Management allows listing agents to create an "offer link" that is then listed in the MLS instructions for accepting offers from potential buyers. MLS listings do not display this link publicly; it is only accessible via the MLS to the buyer's agent who will submit the offer on behalf of the buyer. The offer link will then outline all of the required information and documents needed in order for an offer to be accepted. Offer Management allows you to track the offers and compare them to find the best one with the seller.
| Listing Agent | Buyer's Agent |
| Works with the Home Seller | Works with a Home Buyer |
| Creates offer links and offer instructions, adds to MLS | Utilizes Listing Agent's Offer Link or follows their offer instructions to submit an offer, as documented in MLS |
| Receives offers and reviews from the seller | Submits offers on behalf of the buyer |
Summary
How to Create an Offer Link
In Lofty, offers will be tracked on the related transaction. If you are the listing agent, the first step is to create an offer form. Navigate to the listing transaction and select Offers.
Next, add instructions or an introduction for the offer form which will be displayed at the top. Required documents that need to be attached to the form need to be uploaded in this step using the "attachments" icon. Click on Preview to continue.
The form itself cannot be edited.
Once you save the offer form, you will be taken to a page where the offer link is available to copy and then paste into the MLS portal to add as the next step for potential buyers to submit offers via their buyer's agent.
When the buyer's agent uses the link to submit an offer, all required fields are marked with a red asterisk. After submitting an offer, the buyer's agent is provided with a link that will allow them to see what they submitted as well as preview any status changes, etc. Multiple offers from the same buyer's agent email address will not be accepted by the system. If the buyer's agent would like to upload additional documents, this is not currently supported, but they can communicate directly with the Listing Agent via email if necessary.
Once offers are received, the listing agent will be able to review these as part of a transaction on the Offers tab. Offers can be reviewed here or the offers form can be edited as necessary. The newest offer will appear at the top. Rejected offers are hidden at the bottom.
How to Add an Offer
To submit an offer for your buyer lead, navigate to the lead's profile, select Searches, and scroll to the bottom.
All of the lead's offers will be visible in this section.
Reviewing and Comparing Offers
Navigate to Sales -> Offers to review and compare offers for all of your listings and buyers.
Listing Side Offers
The Listing Side Offers are offers on your listings. These offers are organized by listing, and all offers for that listing are grouped together. Click the drop down arrow to view all offers.
Check the box next to at least one offer and click the Compare Offer button to get an AI generated analysis of the selected offer(s). This tool tells you which offers are the strongest match for your listing, based on the AI analysis.
Navigate to the transaction Offers tab to update the offer status. The available statuses are Pending (default status when created), Accepted, Rejected, and Withdrawn.
Buyer Side Offers
The Buyer Side Offers are your leads' offers on properties. The offers on this page are organized by lead, and all of the offers a lead has submitted are grouped together.
Like with Listing Side Offers, you can select at least one offer to generate an AI analysis of the offer(s). When comparing Buyer offers, the offers are not compared against each other, but against the property listing price.
The lead's offers are also visible in their profile, under Searches. Here, the offer status can be updated. The available statuses are Submitted (default when created), Accepted, Declined, Lost, and Withdrawn.
Notifications
The following are the email notifications that will be triggered during this entire process. These emails will be sent from the client's Lofty sending email address.
Scenario |
Recipient |
Email Content |
|---|---|---|
| The buyer's Agent submits an offer | Buyer's Agent |
Subject Offer Submitted Successfully: #houseLocation Body Hi #BuyerAgentName, Thank you for submitting an offer on behalf of your client. The Listing Agent will review all offers with the seller and contact you if necessary. Use the link below to review the offer details and status. |
| The listing Agent rejects an offer on behalf of a seller | Buyer's Agent |
Subject Offer Rejected: #houseLocation Body Hi #BuyerAgentName, The offer submitted on behalf of your client for this listing (#houseLocation) has been REJECTED at this point in time. |
| The listing Agent approves an offer | Buyer's Agent |
Subject Offer ACCEPTED: #houseLocation Body Hi #BuyerAgentName, Your offer on behalf of your client for #houseLocation has been ACCEPTED. I will be in contact to discuss the next steps. Feel free to contact me with any questions. - Name: #SellerAgentName |
The listing Agent edits the offer form + The checkbox is checked indicating that an email should be sent:
|
Buyer's Agent |
Subject Offer Form Changed: #houseLocation Body Hello #BuyerAgentName, Please note that the offer form you submitted an offer through has been changed. When you have the chance, please review in case additional documentation needs to be uploaded. #offerlink# Thank you, #SellerAgentName |
The link for submitting an offer will be disabled when the transaction is closed or deleted.
Questions?
If you have any questions regarding this topic or any others, please reach out to our Support Team via email at <support@lofty.com>, by phone at 1 (855) 981-7557, or by chat with us through your Lofty CRM.
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