How To Sell Real Estate Online

As a professional real estate agent or bank asset manager, we invite you to try out our innovated and proven online real estate auction sales system for homes, condos, modular homes, land and any other type of real estate. This site was specifically designed to work with professional real estate agents and brokerage firms only.

The RealtyBid.com website does not allow For Sale by Owner (FSBO) listings. Please review the following Questions and Answers (Q&A) to commonly asked questions about our unique sale programs.

Note:

RealtyBid.com is an online real estate bidding website that works with real estate agents, corporations, builders, and banks to accelerate the sale of real estate. The site is for motivated sellers, but not necessarily desperate sellers. All properties offered on RealtyBid.com are required to have discounted minimum reserve prices as compared to the list price.

No, RealtyBid.com is designed to be a tool for real estate agents only. By design, the site is a non-FSBO (For Sale By Owner) site.

There is only one fee that is required of a seller using the site. That fee is what we call a Listing Fee and is currently set at $100 per property. This fee is paid immediately upon loading a property in the system. A credit card payment is required as the last step of the upload process.

RealtyBid.com has sold and closed more than 10,000 homes and condos exclusively through competitive online bidding in the past few years. This success has allowed the company to develop and/or provide access to databases of more than 2.5 million real estate shoppers nationwide. The exposure and level of serious interest a seller can get from adding a property to RealtyBid.com is unparalleled by any other marketing vehicle available today.

Properties are gernerally listed for a bid period of 14 days. However, real estate agents offering conventional market properties on RealtyBid.com may choose between 7-, 14- or 21-day auction timeframes.

There are two requirements to a successful sale on RealtyBid.com and they are 1) a Motivated Seller and 2) Great Marketing Exposure. If your seller is unrealistic on pricing, you will not be successful on this site. Assuming you have a realistic seller you will receive a tremendous amount of exposure using our system; however, we recommend that you invest some additional money on ads in the local paper advertising the auction and encourage people to place bid online. For example, a sample line ad is offered below. Obviously it is better to run a display ad with a photo at least two simultaneous weekends to get the most benefit.

We highly recommend that you contact your local newspaper real estate reporter to let them know you are trying out a cutting edge real estate concept. Many times they will write a local story about the process and the property which is free exposure for you as the agent:

Click Here to View other Sample Ads

RealtyBid.com charges a fee to the Buyer of the property, called a Buyer's Premium or Internet Transaction Fee in the amount of 1%. This fee is calculated based on the purchase price of the property.

RealtyBid.com is primarily a discount real estate site, not a retail venue for properties; therefore, buyers on the site are willing to pay a 1% fee if they are getting a discounted value in their purchase.

No, all properties are sold with an "undisclosed" minimum reserve price. The only prices the public will see are the List Price and the Starting or Actual Bids. The reserve price remains confidential until it has been exceeded during the bidding. At that point, all bidders are notified by the system via email that the reserve has been met. This creates heightened competition among the bidders.

Once a property is listed for auction, ALL bids and offers are required to be placed on the website to foster competition, therefore, there are NO offers that will be considered "outside" the auction process.

No, price is only one consideration; however, all allowed contingencies must be spelled out during the posting of the property so each bidder understands the terms of the deal. If all terms and price are met, the seller is obligated to accept the deal.

Yes, since a discounted price is required by the system, each agent should get a listing addendum signed by the seller that states, "I agree to have my agent place this property up for competitive bidding online and I agree that I will accept any bid at or above my reserve price of $(price)." This step will provide additional protection for the agent listing the unit.

Yes, and whatever selling agent fee is advertised by the listing agent on RealtyBid.com should be the same as the fee being offered through the MLS.

IMPORTANT NOTE:

Online Auction - Bid on this property online at www.RealtyBid.com. Starting Bid is $(starting bid price).

After listing a property on RealtyBid.com it must be left on the site for the full Duration of the auction or a withdrawal penalty will be assessed (unless prior arrangements have been made with RealtyBid.com). The Withdrawal Penalty is calculated based on the reserve amount and the transaction fee amount. Example: If the reserve price is $100,000 and the transaction fee is 1% (posted on the property's bid page) then the penalty charged to the agent for early withdrawal is $1,000. This amount will be due in 30 days from the date the property is withdrawn from RealtyBid.com.
Duration:
The "Duration" is the timeframe during which a property is listed on RealtyBid.com to receive bids. It also includes the two-day, pre-auction, staging period and the "post-auction" negotiation period, which could last up to seven days.

First, you must Register as a Seller. We refer to the agent or asset manager as the Seller of the property since we only work with agents and asset managers. We do not contact your seller/owner or interfere with that relationship whatsoever. To register, go to the Seller Registration link on the website under the heading SELL, or click the link at the bottom of this page. You will then receive your Seller ID Number to login via email.

Second, you will need to login at the Seller Login link or Add A Property link and enter your Seller ID plus your email address. If you have multiple email addresses, you will need to enter the same email address you used to register during the Seller Registration process. Also, all communications regarding the status of the property will be emailed to this same address along with bid activity updates.

There are no costs to register.

IMPORTANT NOTE:

Finally, you will go to the Add a Property link and follow the instructions. You will need to enter detailed information such as MLS#, address, full description, list price, reserve price, selling agent fee offered, main photo, additional photos, virtual tour, and other important information. If there is not at least a five percent (5%) discount being offered from the list price to the reserve price, the system will reject the property.

After loading a property into the system, you will receive an online auction yard sign to be placed beside your listing sign on the property.

Click here to go to Seller Registration