MyBid4It, a new online auction platform that partners with estate agents has been launched by Charlie Lancaster, an ex-Estate Agency owner, who says, “We have experienced the frustrations of the sales process through many buyers and sellers and we were determined to improve the process for the industry.”
MyBid4It partners with agents, giving exclusivity in their geographical region. The platform aims to combine the best aspects of property auctions and estate agents for buyers and sellers. By putting the process in the public domain, buying and selling properties becomes accessible, quick and easy, with no fear of gazumping. The system is completely transparent, efficient and reduces the dreaded fall-though rate, whilst still achieving the best price.
Agents are able to compete with online agency fees – they can offer the seller 0% commission – plus:
- Reduced fall-through rates – buyers will have undertaken extensive property checks and paid a 2.5% non-refundable reservation fee (min £4,000).
- Staff time reduction, due to multiple party negotiations.
- All instructions deliver 1.5% fee of the sale price (minimum £2,500).
- Best market price achieved.
Charlie says, “MyBid4It ultimately improves the process of how properties are bought and sold, to make the process simple and transparent for all involved. With our dedicated team’s reputation and knowledge in the property industry, agents, buyers and sellers are guaranteed to receive a first-class service.