After registration, you need to post your request for Listing Agent by filling out a form available on the left (Request Agents Bidding).
You will be asked to specify "Desired Bidders/Agents" by their years of experience and bilingual skill.
Only Qualified Agents who meet your requirements (bilingual and experience) can bid.
However, the higher the years of experience you specify, the less number of agents will be qualified, and possibly resulting less rebate.
Listing Commission - Agents bid to offer you lowest commission.
No More 6%. Agents bid to offer highest rebate as percentage deducted from total commission. For example, if the winning bid is 2%, the resulting total commission will be 4% (6% minus 2%).
For a property worth $500,000, the rebate to you (seller) is $10,000, valid at closing escrow. Or seller and agent can enter agreement at 4% total commission, if they wish.
Total commission, which is usually paid by seller, includes Buyer's Agent commission.
When posting closed, you will be presented up to 3 top winning agents (3 highest bidders) to choose from. However, if you set Preferred Agents, only 1 winning agent will be presented.
*Note: If you want only bidding from registered agents that you already knew, you can set your own Preferred Agents, immediately after you post Agent Bid Request.
Once being set, Preferred Agents bidding cannot be reversed and seller receives only 1 wining bid.
You can also update or cancel your posting. If you make mistakes that cannot be edited/updated, just cancel your posting and start a new one.
