REBid allows the Real Estate Agent to increase their productivity without relinquishing any connection to their customer.
REBid has been designed to be flexible, so that real estate agents can use it in different ways to suit different properties and different markets.
The REBid process comprises of 5 parts, as summarised below, but the agent can choose which parts are relevant for any given property.
Potential buyers register online
Only people who have been invited by the agent for that property can register – REBid is not an open or searchable platform
The agent can invite new buyers to register throughout the sale
Establish Qualified Buyers
Registered buyers are invited to submit an indicative price and any contract conditions, if interested in purchasing the property
The agent negotiates with the buyers, in particular to establish whether the conditions are acceptable to the seller – or if not, those buyers will not be qualified
At the end of this process, the agent has established which buyers are genuinely interested, an indicative price range they are prepared to pay, and sale conditions that the seller will accept in a final contract
The agent can then rank the offers, so that each buyer knows where they stand (although they can’t see the amounts of the other offers) – this is fair, equal and transparent for all buyers
Qualified buyers are then invited to submit their best offers to purchase the property, if still interested
Buyers can change their price, informed by the ranking of their indicative offers, but they cannot change the agreed conditions
These offers are binding and can lead to a final contract to purchase the property, if accepted by the seller
Invite Seller to View
The agent then provides the seller with a summary of all of the best offers
Of course, the agent will have been keeping the seller informed throughout the sale – and the seller has the right to accept any offer at any time
Decide to Sell or REBid
The seller may decide to accept one of the best offers
Alternatively, the agent and seller might choose to activate the REBid competitive sale process
Best offers are then ranked online, so all buyers can see where they stand – and so that all buyers have a fair and equal opportunity to purchase the property
Any buyer wishing to do so can then increase their offer, if they are keen to secure the property
The ranking process continues until the final best offer is presented
Once the seller has accepted an offer, the final contract can be executed – this can be done online, or face to face, at the agent’s discretion (and may vary in different states)