How does BidLion get me a better price?
BidLion puts the competeive bidding process to work for you and maximizes the amount of money you receive for your properties. Unlike the "best and final" method, all buyers on BidLion are aware of the terms their competition is offering, which means they can confidently compete until they reach their limit.
In addition to competetive pressure driving up the price of your properties, there can also be a boost in price due to the increased efficiency of your agents. For example:
In a multiple offer situation, it takes a lot of time and effort on the part of the listing agent to contact multiple buyers and obtain signatures for contract changes during a back-and-forth negotiation that may increase the price by as little as $1,000. When you consider that a $1,000 increase to the sales price only translates to an extra $30 in commissions for the agent, it is easy to see how a busy agent may leave money on the table, especially when they are juggling many properties at once.
With BidLion on duty 24/7 fielding your offers and alerting you and your agents in real-time, you can be assured that no money is left on the table. And since BidLion makes your agents' job easier, they will have more time to serve you better in other areas.
How else do I benefit?
BidLion provides asset managers with essential tools that make selling with BidLion a no-brainer:
- Receive instant email notifications the moment your agents do on offers and withdrawals.
- Download a report in spreadsheet format reflecting the real-time status and statistics of your entire portfolio anytime, with the click of a button.
- Use BidLion's counter offer feature to quickly respond to reasonable offers, especially when you are not expecting multiple offers. Supervisors are automatically BCC'd on all negotiations.
- Attach the terms of sale to your listing, allowing buyers to use acceptance of them as leverage against one another.
- Attach a Buyer's Premium to your listing to recover the cost of our fee or any other costs you wish to pass onto the buyer. Unlike other sites, the Buyer's Premium is included in the purchase price, which means 100% of it is yours.
How does it work?
BidLion increases your agents' efficiency and gets you a better price by enhancing the traditional real-estate process:
- Your listing agent creates a listing on Bidlion and then directs all interest they generate by normal means to your Bidlion listing page.
- Competing buyers, who are represented by licensed real-estate agents, then submit informal, non-binding offers during an offer collection period, in the public view, for evaluation by you and/or your listing agent.
- You and/or your listing agent evaluate new offers during or after the offer period and may reject, counter, or accept an offer at anytime.
- Once you receive or negotiate good terms, your listing agent will provide the winning buyer's agent with your contract or invite them to make a formal offer using their standard local contract per the agreed upon terms and price.
How much does it cost and who pays?
BidLion charges your listing agents a $49.95 Listing Fee for our Basic Service, which includes all features except Buyer's Premium.
If you wish to use our Premium Service, which allows you to attach a 1% - 10% Buyer's Premium to your listing to get a higher net price, your agent's $49.95 Listing Fee is waived and your institution assumes responsibility to pay a Premium Service Fee of ½% of the purchase price ($699 minimum) to BidLion upon successful settlement.
