Benefits for Agents
Real estate agents/brokers are an integral part of Domus Optima™ Sealed-Bid Auction system. There are two revenue-producing engagements available for these licensed real estate professionals:
A listing agent/broker represents the seller during the Sealed-Bid auction process and manages many traditional real estate functions, including, but not limited to:
- Provide the lead.
- Add the Sealed-Bid Auction amendment to the original listing agreement and inform MLS that the property will be listed on public auction.
- Assist the seller with all paperwork required for the auction listing.
- Provide local licensing information.
- Perform market analysis.
- Provide a fact sheet on the property along with photographs and multimedia.
- Complete and provide due diligence packages (property appraisal, inspection, etc.).
- Maintain sign and lock box on property.
- Conduct showings and open houses.
- Provide feedback to the seller.
- Assist the seller in pre-closing and closing events.
A cooperating agent/broker represents a perspective buyer during the Sealed-Bid auction process.
To earn a commission for representing a successful buyer (a Sealed-Bid auction winner successfully closed on the property), the cooperating agent/broker should either be officially appointed by the buyer upon registration for the Domus Optima™ Sealed-Bid Real Estate Auction and accept this appointment, or should officially refer the buyer and the buyer confirms this referral upon registration for the Sealed-Bid auction.
The cooperating agent/broker manages many traditional real estate functions, including, but not limited to:
- Accompanying the perspective buyer to pre-auction events.
- Helping the perspective buyer to determine the market value of the property prior to the Sealed-Bid auction (check due diligence package, market conditions, comparables, etc.).
- Helping the perspective buyer with terms and conditions of the Domus Optima™ Sealed-Bid Real Estate Auction.
- Assisting the perspective bidder with Domus Optima™ Sealed-Bid Real Estate Auction registration, paperwork and bidding strategy (if needed).
- Assisting the successful buyer (a Sealed-Bid auction winner) in pre-closing and closing events.
Below are just a few benefits available to real estate agents / brokers:
- Domus Optima ™ Sealed-Bid Real Estate Auctions represent a new business opportunity for real estate brokers and agents, as well as another marketing tool to assist their customers.
- Domus Optima ™ Sealed-Bid Real Estate Auction system increases revenue opportunities by decreasing property time on the market.
- Domus Optima™ Sealed-Bid Real Estate Auction system helps to develop own market niche and clientele network (especially to newly licensed real estate agents).
- Domus Optima™ Sealed-Bid Real Estate Auction system brings simplicity into real estate transactions. Agents/brokers do not need to spend valuable time discussing with customers and stipulating all contingencies in real estate contracts. Real estate properties are auctioned and sold on an “as is” basis and without any contingency.
- Domus Optima™ Sealed-Bid Real Estate Auction system eliminates the necessity of prolonged negotiation processes between the seller and the buyer.
- Domus Optima™ Sealed-Bid Real Estate Auction system brings certainty into a real estate sale process. The property will either be sold at or delisted from the auction by the scheduled date. It helps agents/brokers to mitigate the possible impact of the Days-on-the-market issue, better forecast their marketing expenses and commission income, as well as increase general satisfaction of their customers.
- Domus Optima™ Sealed-Bid Real Estate Auction system brings full transparency along with uncompromised privacy into the real estate sale process. A perspective buyer can make a decision on participation in the auction based on the comprehensive due diligence package and with a clear understanding of the current auction terms and the referred property’s market demand.
- Successful Domus Optima™ Sealed-Bid Real Estate Auctions result in an increase in referrals and return business.
- Social distancing friendly.