For a video tutorial on Submitting a Bid, click here.

You can also watch the video on Creating the Auction to get an understanding of the thought process that happens with Listing Agents and Sellers on determining the value of pre-negotiated terms.

Because Sellers and their Agents have determined some of the contract terms prior to beginning the auction, you and your clients will have visibility into what contract terms are most important to the Seller.

As you build the bid for your Buyer, you will notice some assigned values next to certain items on the bid. Those assigned values do not change the total price of the bid. Rather they show you the psychological value the Sellers place on them.

<aside> 📒 Example: A Seller may value a cash offer $5,000 higher than an offer that requires financing. Again, that does not change the total contract price, but instead the value to the Seller.

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As you are completing the bid form, you will see the Contract/Sale Price as well as the overall Value to Seller.

Submitting a Bid

The first step in submitting a bid is to select your Buyer client. If your Buyer has not set up an account, you can add them easily from the bid form.

Select the appropriate Buyer from the drop-down client list then click Next.

Price and Terms

Next you will enter the enter the Purchase Price, Earnest Money, and accept or decline a few other terms. As you are creating the bid, you will be able to see the Purchase Price and overall Value to Seller of the current high bid - so you and your Buyer will know what you need to offer to be competitive.

Once you complete the initial price and terms, click Next.