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Property Auctions in CRM

   Words by CRM Consultancy

   on 02/11/2015 09:30:00

Putting a Property under the hammer

When a property is struggling to sell on the open market, or the seller needs a quick turnaround, then the best course of action may be to place the property into an auction – this connects the seller with a ready market of potentially cash-buy or other fast-moving purchasers.

This process involves a number of related parties for collecting the right information to consider the property for auction, and should the property sell at auction then completing a number of actions between the parties to complete the sale quickly.  This degree of people and companies collaborating together makes for an excellent process to map into CRM to ensure the right communications are delivered, and the required activities are completed on schedule.

Our mission was to map this process into Dynamics CRM to give the Property Manager the method of liaising with the Auctioneer, Solicitors and other Agents to manage the potential sale at auction, whilst ensuring good communication with the Seller.

Business Requirements

  • Allow the Property Manager to record and review Auction Appraisals for a Property from a single screen in CRM, to give a full 360 degree view of the Property going to Auction.
  • Ability to instruct Auctioneers in CRM that will then communicate the requirement
  • Auctioneers are able to return their Appraisal via a Supplier Portal – comprising Valuation figures, Documents and Photos
  • Allow the Property Manager to publish the Valuations to the seller and allow them to review via a Client Portal.
  • Workflow to support the Property Manager to contact the client, review the Valuation and decide whether to instruct the Property to Auction
  • Record the Auction Date and complete the preparation activities prior to the day of Auction.

As way of understanding the process behind these requirements, we can look at identifying the key process stages:

Auction Appraisal

So if we look at the process of how a property goes to auction, this starts with asking the Auctioneer to perform an Appraisal, collecting this information so this can then be reviewed with the Seller.

Here CRM can link effectively with a Portal for the Auctioneer, such that the Property Manager can instruct the Auctioneer in CRM and then allow the Auctioneer to submit their Valuation figures and supporting documentation back to CRM via Portal.

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Viewing the Auction within Dynamics CRM

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Sharing the Auction Appraisal between CRM and the Auctioneer via Supplier Portal

Auction Referral

Once we have collected the Appraisals and confirmed the likely Reserve and Guide prices at Auction – this is then reviewed with the seller to determine whether to confirm the Property into Auction with the selected Auctioneer.

Place into Auction

The Auction Date and Location is selected, and the Reserve and Guide prices confirmed with the Auctioneer – this then prompts the Property Manager to complete any preparation requirements prior to the Auction Date.

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