A new eBay-style service has launched, allowing agents to sell and let properties online.
LetsBid Property enables agents to upload their listings to its website where registered buyers and tenants can bid.
Agents can set a guide and reserve price as well as the duration of the bidding process.
They can also access full details of bidders or anyone downloading documentation about the property, and can choose the style of auction – eg, whether it is the modern method for sales, allowing successful bidders a period of time to sort out their finances and complete, or whether the deal is binding on the fall of the electronic gavel.
Potential renters are pre-referenced before being able to make bids, via reference agency Lets Safe.
LetsBid founder Milton Rodosthenous, who was until last month a director at national auction house Lansdowne Auctions, said: “The whole idea of LetsBid is that estate agents can offer online auction services as an extension to their business whilst remaining in complete control of the process, particularly in regards to whom they accept bids from and at what price.
“In effect, we act like an estate agent’s virtual or remote auction department, enabling them to become an auctioneer overnight.
“Ultimately, we hope to create a platform for property auctions that is as useful and successful for sellers and buyers as eBay is for everything else
The service is free to bidders – so no buyers’ premium, but agents pay a monthly fee.
LetsBid is currently offering a free 12-month subscription to the first 1,000 agents signing up.
Comments (3)
LetsBid — dont waste your time or the agents. Go back to bed.
The trail goes very cold very quickly when you follow the link and look up the background on this company. Don’t fall for it, as Richard Copus says, the job won’t be done properly and therefore all are at risk and what quality of sellers/buyers will this type of company attract…including the source of funds!
“New e-bay service” allows agents “to become auctioneers overnight”.
Heaven help the clients and just wait for the first legal actions for not marketing the properties fully and for not obtaining the best price on sale.