Realtors using certain multiple listing services can now put foreclosures and bank-owned homes up for auction through an online auction platform, according to a release by real estate information technology company MarketLinx Inc.
MarketLinx operates the MLXchange, TEMPO and InnoVia MLSs. Through a partnership with RealtyBid.com, real estate professionals can upload listings and photos from these MLSs and submit distressed properties (excluding short sales) for a live, "eBay-style" auction.
Using RealtyBid.com’s BidAssist feature, bidders can tender automatic, incremental offers up to a set maximum.
"Unlike other services, RealtyBid.com keeps Realtors at the center of the transaction," said Ben Graboske, CEO of MarketLinx.
"Listing agents control the auction process from end to end and retain their normal commission. RealtyBid.com is simply another great tool that extends the power of our MLS systems to help real estate professionals sell more homes faster."
The First American Corp., a Fortune 500 company, owns MarketLinx.
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