property sourcer guide
30th August 2019 by Property Deal Store Administrator in Sourcers

Listing Your Deal: The Sourcer’s Guide

There’s one thing that all investors want: information.

In order to make sure that your deal gets the attention it needs to generate a sale, it’s important that you’re giving potential buyers as much information as practically possible. This enables investors to better understand the opportunity, it makes you easier to deal with, and it shows that you’re professional and the deal is worth investigating.

It could even lead to a long-term relationship with an investor.

Here we’ll take you through the listing process. Use this guide to make sure your listing is attractive to investors and as effective as possible.

Step 1 – Listing Category

Click ‘submit a property’ at the top right of the website’s homepage and you’ll be taken to this screen:

Select your listing category from the below depending on which is the closest match to your offering and click ‘next:’

  • Below Market Value/HMO (House of Multiple Occupation)
  • Commercial/Development
  • Lease Options
  • Rent to Rent/Serviced Accommodation

Step 2 – Property Description

One of the most important aspects, this is where you can really sell your deal to our investors. Don’t miss your chance here – add as much information as you possibly can!

Investors want to know:

  • The number of bedrooms, bathrooms, reception rooms
  • The layout of the property
  • The property’s condition, what recent work has been done and what still needs to be done
  • Who the target tenant will be
  • What local employment is like
  • Location, including information about the local area, amenities nearby and transport links
  • Neighbourhood projects, such as area re-development that would interest the investor
  • Whether it’s a cash only purchase
  • Anything else that you think investors will be keen to know

Be sure to add as much information as possible in the written description, including as much of the above as you can.

Next, you’ll be asked to fill in the financial information along with at least four similar properties that have recently sold – these can be found on Rightmove or Zoopla easily:

Add any applicable mortgage details:

Then, importantly, add the rent details. If there are multiple options, such as a single let or HMO, please state both using a new line for each. If it’s an HMO make sure it’s clear how many units make up the total rent:

Now it’s time to add your sourcing fee. If you charge VAT, this amount must be inclusive of VAT.

Next up, please add any other fees related to the purchase, such as (but not limited to) the below:

  • Solicitor’s fees
  • Reservation fees
  • Legal fees
  • Search fees
  • Survey fees
  • Licence fees (such as HMO)
  • Architect fees
  • Project management fees

Note: each fee needs to be on a separate line in the above box.

Finally, to complete step 2, please add any other terms of sale. These could include that it’s a cash purchase or anything else that the investor will be bound by:

Once complete, click ‘next.’

Step 3 – Location

Once you’ve completed step 2 above, simply fill the form with the address details on step 3. Then, where indicated, enter the address so that a map appears on your listing. Then click ‘next’ to complete this step:

Step 4 – Media

Step 4 is the all-important imagery. Investors need to see the property in its entirety to give your deal any consideration. Even if it needs a large refurbishment, showcase what’s needed.

This section needs to be completed in two stages.

1)Featured image

This is the image that appears on the listings page with all your competition, so choose your preferred image wisely. Most sourcers choose a picture of the front of the property, but the choice is yours. Just make sure you do include a featured image. Point to note – so as to not give everything away, and to make sure you get the fee for your work in brokering the deal, putting a picture of the front of the house in your listing at all might be best avoided.

2)Supporting images

Include as many pictures as you can, up to the maximum of 12. Be sure to show as much of the property as possible and rooms from different angles.

Step 5 – Your Details

Add all your contact details as shown:

Then click ‘next.’

Step 6 – T&C’s

You need to indicate that you’re happy with Property Deal Store being entitled to 20% of the sourcing fee and agree to the rest of our terms.

Click on the ‘terms and conditions’ link to read the full terms. Then, when you’re ready, click the green circle to indicate you have read and accept the conditions and then click ‘next.’

Step 7 – Finalise

We need to review every listing before it goes live on our site. To complete your listing and pass it to us for final review, leave any comment that you feel is important for our reviewer to consider and then click ‘submit property listing.’

Your listing will now be placed in the review queue and you will be notified once it is approved and live on the website.

You can then start to promote it as widely as possible, and of course, we will do our best to help you secure a quick sale. You are not locked into Property Deal Store as the only way to sell your deal so by all means use other methods out there. At the end of the day, we just want you to sell your deal.

Connecting buyers and sellers, it’s what we do.

Should you have any questions about listing your deal or about this guide, please email office@propertydealstore.co.uk or call us on 01282 711561.

We’ll always be happy to help.

 

-Janice Minihan and the team at Property Deal Store