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Frequently Asked Questions for Agents

What is Bid4Homes?

Bid4Homes is Bid4Assets' enhanced real estate website. On Bid4Homes you will find an unprecedented selection of residential and commercial properties and land. The core of the Bid4Homes site is a list of properties available for sale through online auctions. Most of these properties are owned by banks (REO - Real Estate Owned), or they are forfeited properties from government agencies. Some are owned by private sellers.

There are also properties for sale without an auction ("Make An Offer"). Through Bid4Homes' partnership with RealtyTrac®, buyers will have access to thousands of listings from the RealtyTrac® site. Most of these listings will require the buyer to contact the seller or their agent directly.

Buyers on the Bid4Homes site will have many choices whether they are looking to buy and hold property as a long term investment, to identify under-priced real estate that can be "flipped" quickly for a profit, to obtain property that will generate positive cash flow or to acquire their dream residence.

Together, Bid4Homes and RealtyTrac® bring over 3 million registered users to the online real estate marketplace. These visitors have one thing in common. They have expressed an interest in buying or selling real estate.

Bid4Homes also presents a unique method of supporting agents and brokers. It's called the 3 in 1 Listing program. Agents and sellers can use the password protected web-based tool to view up-to-the- minute status on all the properties that they have listed on the Bid4Homes site from the time the property is posted to final settlement. The 3in1 Listing gives private sellers a chance to chose one of Bid4Homes preferred real estate brokers to help sell their property after the online auction.

You will notice a tremendous amount of real estate information on Bid4Homes. We will constantly add information to this site, making it a one-stop resource where buyers and sellers can educate themselves about the real estate industry, online real estate auctions and specific properties. Think of us as a "cyber sandbox" of information and choose exactly what is relevant to you.

Bid4Homes makes the settlement process easier by providing some of the necessary settlement documents online; and if a buyer requests it, we will even provide a list of settlement companies.

What is the 3in1 Listing process?

The 3in1 Listing process is Bid4Homes revolutionary new asset disposition service that integrates online auctions with listing and buyer's agents to provide end-to-end solutions for banks and home sellers.

Click here to read more about how 3in1 Listing provides opportunities for agents to earn additional real estate commissions.

Why should I consider using online auctions?

It's no secret that more people are buying more products online every day. Real Estate is no exception. More than 450,000 people have registered to bid on real estate on the Bid4Homes' site and its sister site, Bid4Assets. More than 50,000 properties have been purchased from these sites since 1999. Our buyers and bidders have told us that our online auction sites bring an unmatchable level of convenience to the real estate buying process. Within minutes, the information on the Bid4Homes site can be used to help you make decisions about the value of a property.

If you have purchased real estate through traditional means, you know that making an offer takes time. You don't know how your offer compares to other offers and in a competitive bidding situation, there's often no way to quickly make another offer if you want the property.

Online auctions from Bid4Homes give you the control and power lacking in the traditional buying process. You know what competing bidders are offering instantaneously and you can react immediately. If bidding gets to a level that exceeds the value of the property to you, you can stop bidding. If you change your mind and want to place another bid, you can do it immediately. So long as bidding is still going on at the end of the auction, Bid4Homes will extend the auction into "overtime". Bidding won't stop until 5 minutes have gone by without a bid.

Many subscribers to our online real estate auction sites tell us it is exciting to participate in an online auction. It is particularly exhilarating as the auction is about to end and the pace of bidding picks up.

Bid4Homes offers another exclusive feature that buyers and sellers like. It is called "Bidder On Deck". "Bidder On Deck" is available in two situations; if the winning bidder defaults on their purchase or the reserve is not met. A seller has 48 hours to accept "Bidder On Deck". With "Bidder On Deck", the seller contacts the bidder with the next highest bid (after the bidder winning the item defaults or if the reserve is not met) and offers them the opportunity to purchase the property at the price they submitted on their last bid.

Buyers and sellers appreciate the security of knowing they have recourse in the event a purchase isn't concluded or if the reserve isn't met.

To hundreds of thousands of people, online real estate auctions bring unmatchable value.

I'm a listing agent, how can I earn commissions with Bid4Homes?

When a financial institution or home seller brings a property to bid4homes through the 3in1 Listing process, Bid4Homes retains a listing agent to take pictures of the property, write a description and hold an open house.

If a property does not sell via online auction in phase 1, the agent lists the property on the MLS and may promote the property to local buyers. Bid4Homes will continue to promote the property in phase 2 and refer potential buyers to the agent. The agent submits offers to the property's owner electronically.

Click here to learn more about the 3in1 Listing process.

Register with our agent network to be notified when there are opportunities to earn commissions by listing properties in your area. Click here to identify the states in which you are licensed.

I'm a buyer's agent, how can I earn commissions with Bid4Homes?

For listings that are in phase 2 of the 3in1 Listing process, as well as many online auctions on Bid4Homes, the terms of the auction will indicate what commission will be assigned to buyer's agents. Bring your buyers and collect your commission!

Click here to learn more about the 3in1 Listing process.

Where can I find the necessary agent contracts to participate in the 3in1 Listing process?

Click here for Master Listing Agreement

Click here for Master Marketing Agreement

Click here for Assignment of Listing Contract

Click here for Assignment of Service

Click here for Contract to Purchase Real Estate