On Site Auctions for Sellers

Selling Property by Auction

When you sell property by auction it tells buyers that you are serious about selling. It also mandates that buying decisions are made quickly and can increase the number of prospective buyers. For real estate agents, ListaBid can be a valuable tool to complement other sales techniques since it opens a property to untapped buyers nationwide.

Banks and mortgage institutions can utilize auctions to move a large inventory of foreclosed properties quickly, while builders can sell multiple properties quickly to lower costly interest payments. Auctions are a valuable tool to facilitate sales at any time, but this is especially true during tough times.

Gain Attention with Property Pricing

It is vital that only sellers who are serious about selling list and sell property by auction. Serious sellers and serious agents must have property that provides a lot of perceived value, such as property that has incurred several price reductions.

Setting a low opening bid price and a low reserve price is the best way to attract attention to your property. The opening bid price is public, but the reserve price is kept confidential.

The reserve price is the lowest acceptable price you will take on the opening bid for property and a low reserve price plays an important role in generating competition among bidders. It is a must to have your seller sign a listing addendum that states they agree to the auction and will accept any bid at or above the reserve price.

Contact us to request addendums from ListaBid.

Once you have registered a property with ListaBid, it is imperative that you continue to market the property to increase exposure and therefore a higher winning bid for the property. We encourage you to check with your local MLS about the verbiage you should use when marketing a property listed for auction.

Important! We do not market For Sale By Owner properties. Sellers must have entered into a Listing Agreement with a Real Estate Agent prior to posting properties on ListaBid. However, this does not apply to financial institutions or builders that deal directly with ListaBid. Contact us to discover if your property qualifies.

For Agents

Fees

Realtor listing fees are protected and if there is no buyer the co-op is split 50/50 between ListaBid and listing agent. ListaBid charges a buyer premium of 5% or $2,500 (whichever is higher).

Benefit from the auction process with ListaBid. Register now!

Click here to download the Broker/Agent Participation Form.