REBid is an acronym for the real estate sales process:
REBid can also mean “Real Estate bid”, or "bid again".
No, REBid is simply a tool that has been designed to be used by real estate agents.
No, REBid has been designed for ‘private treaty’ sales, but it combines some of the benefits of auctions, tenders and expressions of interest.
REBid’s transparency enables potential buyers to increase their offers when they can see that there are other offers higher than theirs, although they cannot see the amounts of the other offers – that’s one of the reasons why REBid is not an online auction.
That’s up to the agent and their professional judgement of the particular property, in consultation with the seller – REBid will be the most appropriate method of sale for some properties, but not all.
Yes, there is a transaction cost per property that is charged to the agent when the REBid process is activated after the Registration stage (although there is no charge if the process does not proceed past Registration). The agent may in turn pass on that cost to the seller.
There are a number of reasons why buyers can have confidence in the integrity of the REBid sale process:
Log in using the username and password provided to you by the real estate agent