The RFP (Request For Proposal) non-distressed process
RFP Overview
The RFP (Request for Proposal) non-distressed process has fast become a popular alternative to property auctions given its efficiency, simplicity and cost effectiveness.
The strategy is known for unlocking a large pool of qualified purchasers in the marketplace at any given time providing the seller with the opportunity to generate value, often beyond what would have been generated in a vacuum.
The above methodology is carried out via a transparent platform of competition whereby active purchasers are given the opportunity to put down their price proposals within a highly competitive context and fixed time frame, designed to drive value for the seller.
Breakdown
In order to extract the maximum value out of the market and stimulate demand, the RFP non-distressed strategy endeavours to entice the market by testing various pricing parameters, starting with a price point of between 5-15% below market value. This process efficiently builds up a competitive platform made up of qualified purchasers who will then be invited to submit their initial offer-to-purchase bids.
Once the initial bids have been secured on the transparent platform, purchasers will compete to secure the property. Throughout the process, the seller will retain a reserve price and therefore retain control of the negotiations throughout.
With bids in hand, the broker will continue negotiations with purchasers until the seller agrees on an acceptable sale price.
Many homeowners have benefited from utilising this strategy in 2022 - Interested to know how your property can benefit from the RFP (Request For Proposal) non-distressed process?
Unlock maximum value for your property asset!
22 Sep 2022
Author Quay 1 International Realty