Make your first request for cash offers
To make your first test request for cash offers, you can make a POST request to the/offer-requests endpoint in the playground or with cURL:
Fields named with Pascal Case convention follow the RESO
2.0 standard.
Please reference the Wiki before inquiring about field definitions
Preliminary Request
Not ready to submit a full request yet? You can also check out how many buyers and buy boxes a property matches by hitting the preliminary request endpoint:Receiving notifications
By default, we send out email notifications to theListAgentEmail for when offer requests are approved to be sent to buyers, and when offers are made on your requests.
Additionally, you can set up a webhook to receive notifications on key events related to your offer requests by posting to the /wh endpoint:
offer_request_id is the same as the offer_request_id in the response from the /offer_requests endpoint.
If you provided a offer_request_external_id, that gets returned as well. You can use that to identify the offer in your system.
Now, let’s take a look at the offer itself. The buyer made an offer of $500,000 on your request.
Because both buyer_pays_buyer_broker_commission and buyer_pays_listing_broker_commission are false,
buyer has indicated that the offer assumes seller pays both buyer and listing broker commissions.
Buyer broker commission goes to ESO, and is locked at 3%, while listing broker commission is variable. In the above transaction, seller is responsible for $500,000 * 3% = $15,000 in buyer broker commission, as well as $500,000 * 3% = $15,000 in listing broker commission.
The seller is expected to net $470,000 before other closing costs from the transaction.
Responding to offers
At this point, you can do one of three things with the cash offer:- Accept it
- Reject it
- Counter it
Accepting an offer
You can accept an offer by sending a PATCH request to the/offers endpoint with offer_status as accepted:
Once you accept an offer, our acquisitions team will be notified and reach out
to you with next steps.
Rejecting an offer
You can reject an offer by sending a PATCH request to the/offers endpoint with offer_status as rejected:
Countering offers
If you have an offer that you’d like to counter, you can do so by posting to the/counter-offers endpoint:
$500,000, if the buyer agrees to paying the commissions.
You have also adjusted the listing_broker_commission_pct to 2.0%, demonstrating your intent as listing broker to surrender 1% of the the offer amount to the buyer.
If the buyer accepts this counter offer, the expected net cost to buyer is $500,000 * (100% + 3% + 2%) = $525,000 before other closing & reno costs.
If the buyer accepts this counter offer, a new offer with status of accepted will be created, and your endpoint will get the same webhook as normal.
If the buyer rejects this counter offer, you will get an UPDATE call to your callback.
Viewing all your cash offers
You can view the cash offers on your requests by getting the/offers endpoint:
Adding pictures after submission
After submission, you can add pictures to the offer request by sending a PATCH request to the/offer-requests endpoint.