Fine Tune Your Auction-Style Listing for Best Results - Selling or Leasing
There are a number of listing types available on this website. The seller of each property chooses the type of listing he wants to use to offer the property for sale. The listings have any of the following features or some combinations of these features.
- Public Listing – is a Listing where all users will see current bids placed and bid history.
- Private Listing, – is a Listing where only the Listing Party sees the bids, similar to sealed envelope bidding.
- Automatic Listing – is a Listing where the Website automatically selects the Winning Bid per the Listing's criteria. If you choose this option, you will be selling or leasing to the Winning Bidder.
- Manual Listing – is a Listing where the Listing Party will select the Winning Bid. If you choose this option, you will be selecting the bid that you accept, by going to "bid History" from the listing detail page.
- Reserve Listing – is a Listing that has a Reserve Price. You don't have to sell or lease to highest bidder unless the bid is above the reserve price; however, you can accept any bid at your option (from "bid history").
- Reserve Price – means a minimum selling price the Seller has established below which Seller is not obligated to sell. However, Seller can accept or reject any bid.
- Absolute Listing – is a Listing that does not have a Reserve Price. You would be selling or leasing to the highest bidder.
- Buy-it-Now (BIN) Price – is a price designated by Listing Party that will be the Winning Bid if exercised by Bidder, and will immediately end the bidding. Any Listing may or may not have a Buy-it-Now price.
- Buy-it-Now Only Listing – is a Listing where only the Buy-it-Now (BIN) price is acceptable. Listing party can optionally allow "Bidder Price Suggestion". This is the closest thing to a traditional sale or lease listing, including those listed on the MLS.
- Bidder Price Suggestion – On some Listings with BIN price, the Bidder may suggest an alternate (BIN) price to Listing Party for potential acceptance. If accepted by Listing Party it is same as exercising a BIN price. Compare this with offer and counter-offer on an MLS listing.
- Proxy Bidding / Automatic Bidding – is when a bidder places his/her/its maximum bid for the property. The seller and other bidders don't know this maximum bid. The Website will automatically enter a bid on bidder's behalf that is equal to the highest other bid plus the bid increment up to the maximum the bidder entered at the onset. If the bidding goes higher than bidders maximum bid (proxy bid), bidder can still bid higher if he/she/it wishes.
All the Information You Need to Bid and Buy Your Favorite Property
Each auction-style property listing has its own listing page on this website. You get to this page by browsing the listings in your target State, Property Type, or other keywords or criteria. Once you are on the listing’s detail page, you can bid on the property and here is how to do it. The listing detail page is organized like this:
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he More I Know the Better My Results Become
On this Real Estate Auction Style Online Platform, tThere are a number of terms used on this website and related to our listings, bidding, buying, selling and leasing that are defined below for better understanding. You are most likely familiar with most of the terms, but it doesn't hurt to review them as they are use on this website.
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Fine Tune Your Auction-Style Listing for Best Results - Selling or Leasing
There are a number of listing types available on this website. The seller of each property chooses the type of listing he wants to use to offer the property for sale. The listings have any of the following features or some combinations of these features.
Read More