It's Not Easy Being Green

By
Services for Real Estate Pros with BidOnRealty.com
http://actvra.in/8Gh

Kermit the frog was right.  It's not easy being green.  But if we all make an effort to conserve our natural resources, our grandchildren may actually end up with a habitable planet.  We're doing our part here at BidOnRealty.com.  Our platform includes a paperless Make Offer system, whereby the Listing Agent and Seller can set a range in which offers will be entertained. This feature is typically used to enable buyers to make an offer on a property prior to the start of the online auction. Let's look at an example:

 

 

Home is listed in the MLS for $200,000, with the online auction set for days 25-30 of the listing period.  Let's say the Seller's absolute bottom line is $188,000.  The Listing Agent can set the Make Offer range at $188,000 - $200,000.  That same bottom line number of $188,000 would also be the Reserve Price set in the auction.

If a buyer (bidder) wants to make an offer on the property before the auction starts, he simply clicks on the Make Offer button on the property's bid form on our site.  They enter their offer (making the same bidding assumptions as they would in the auction).  If the offer is below the Make Offer range, the system automatically rejects it and the buyer is free to make a higher offer if they wish.  If the Buyer makes an offer that is within the range, the Listing Agent is automatically notified via a system email, and they can discuss it with the Seller.  If they do not wish to accept, they simply reject the offer in the system, and the Buyer is notified via email.  They are free to submit a higher offer.  It's all done via our system.  No paper.  No time wasting (Listing Agent or Sellers).  No mind games.  And yes, our Make Offer button is actually green.

Don't even get me started about how much paper is saved by running an online auction on a property instead of taking multiple written (multiple page) "highest and best" offers.  One contract is written by the auction winner after the auction has closed.  How's that for "keepin' it green" on Earth Day?

In keeping with the Kermit theme:  Q: What did Kermit the frog say when Jim Henson died? 

                                                        A: Nothing.

Sorry about that.  I couldn't help it. 

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Ambassador
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Alan May
Coldwell Banker Residential - Evanston, IL
Evanston & Northshore of Chicago real estate

why limit the opening bids to only the list price... open it up from $188 and higher.  After all, I surely wouldn't want an opening bid of $225,000 to be kicked out by the system, would I?

“Time's fun when you're having flies.”
    ~~ Kermit the Frog.

Apr 27, 2011 05:27 PM #1
Rainer
59,458
Mitch Gover
BidOnRealty.com - Orlando, FL

Hello Alan - Yep, that's what we would suggest, set the Make Offer range from $188,000 to $200,000 (or even higher).  In the auction system, one would set the Reserve price at $188,000, but there is no "top end" to the bidding.   

Apr 27, 2011 05:36 PM #2
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Rainer
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Mitch Gover

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