Renturly's new form fields and navigation for vetting
New Buyer Fields:
- Cents on the dollar: It’s common for bulk packages to sold at certain cents-on-the-dollar and some buyers might look for packages only within a certain cents-on-a-dollar range
- Setting minimums: It’s common for buyers to have certain minimums for each asset type that they want to buy, such as ordering a minimum of $100M notes and no less
- Extra buying criteria: In Consumer Behaviour Marketing buyers go through stages when making a purchase decision and one of them is having a criteria to help guide their purchase decision. As a broker and seller trying to promote a package, I thought that it would help the selling process to understand any extra buying criteria that is not already captured in the system by any other form fields so that objections can be handled properly and professionally
- Buying alternatives: Likewise, in Consumer Behaviour Marketing, buyers have many alternatives that they can choose. Knowing buyers’ other avenues for making a similar type of purchase will allow you to handle objections and rationalize how come a buyer is yet to submit documents that they said that they would send
New Package Fields:
- Cents on the dollar: Again, it’s common for packages to be sold at cents-on-the-dollar, as opposed to cap-rate. I believe that sharing cap-rate will allow buyers to ensure that their assets cash-flow while holding them, even though this is not a commonly looked at field in the bulk buying industry.
- Now call portfolios packages to better aid in selling them to large buyers that are accustomed thinking about browsing and buying packages
- Capturing information is now called Vet because The Urly Bird Vets the Worm!
- Updated portfolios now being called packages in the navigation
- Match is now called View My Leads because ultimately the matches that result from capturing information are leads for doing deals.
Cents on the dollar will likely become a field that the Birds of a Feather real estate matching system uses to match and connect buyers with packages and a filter that can be used when browsing leads.
The matching functionality is delayed in being rolled out again because we are re-doing the code for it to allow us to be more flexible, agile, and adaptable to your needs when developing new features in the future.