RealtyBid - AgentDirect Program Overview
Menu Close

AgentDirect Program Overview

All properties posted to RealtyBid.com through our Agent Direct Program MUST be represented by an ACTIVELY licensed real estate agent in the state in which the property is located.

There are three requirements to a successful sale on RealtyBid.com and they are:

1. An educated listing Agent

An educated listing agent will know what the property is "truly" worth in the local market and make their Seller aware of this amount. Click here to view the Agent Orientation Video Tutorial.

2. A realistic, genuinely motivated Seller

If the seller has unrealistic prices, you will NOT have a successful bidding event.

3. Great marketing exposure

Assuming the Seller is realistic, you will receive a tremendous amount of exposure using our system. We recommend that you invest some additional money on ads in the local paper advertising the auction and encourage people to place bid online. Obviously it is better to run a display ad with a photo at least two simultaneous weekends to get the most benefit. Click here to view How to Sell A Property.

Seller costs:
Buyer costs:
Duration:

NOTE: To remove a property prior to the full duration of the bidding event, a Withdrawal Penalty will be issued to the listing agent. The Withdrawal Penalty is calculated based on the reserve amount and the transaction fee amount. The Withdrawal Penalty will be 1% of the original reserve amount or a $500 minimum fee charged to the listing agent and due within 30 days of the date the property is withdrawn from RealtyBid.com. To avoid this issue with your Seller, have the seller(s) sign a Listing Addendum that mentions the duration of the auction (see below).

Agent responsibilities:
FYI:

1) Current list price, and
2) Reserve price (minimum the seller will accept for the property). This amount MUST be a minimum of 5% below the current list price.

When a property sells on RealtyBid.com:

When a property meets or exceeds the reserve price and is "sold" on RealtyBid.com, the Listing Agent is still an integral part of the "Contract to Closing Process" very much like "traditional" real estate transaction.

If, at the end of the Active Bidding Event, the reserve has been met the Listing Agent will:

Purchase Agreement
Internet Transaction Fee Addendum
Closer's contact information
(company name, contact person, file number, address, phone number, fax number, email address)
HUD1 or Closing Statement when available

If, at the end of the Active Bidding Event, the reserve has not been met:
Please remember:
How we market RealtyBid.com:

At RealtyBid.com, we employ a number of different advertising and marketing strategies to attract visitors to our site. Traditional advertising plays a large role in these strategies, as we consistently advertise in numerous large newspapers and magazines across the country and have also invested in national radio and television advertising campaigns.

However, technology-oriented marketing has become a large focus of our advertising strategy. We have found highly-targeted online advertising to be extremely effective. In recent campaigns, we have advertised heavily with real estate search frontrunners RealtyTrac, Trulia.com, Zillow.com, and Yahoo Real Estate, among others.

Additionally, a great deal of our marketing investment is concentrated on increasing our search engine optimization and routing visitors to our website via search engines like Google, Ask, Yahoo, and other Internet traffic drivers. Editorial media exposure and public relations efforts also play a major role in our marketing plan.

Our multi-faceted and technology-heavy marketing approach is definitely paying off. In 2009, RealtyBid.com hosted nearly 42 million visitor sessions, and experienced a huge surge in page views. Plus, in 2009, the website saw both its largest inventory of properties ever and largest number of home sales ever—our true test of success!