As an increasingly digital world puts its stamp on commercial real estate more and more every day, the realization that technology can only take success to a certain degree remains important. The transacting of all real estate assets will likely always require the expertise of CRE brokers.
Brokers work incredibly hard for their clients. Therefore, we ask ourselves how can a broker of commercial properties best serve their clients efficiently? Finding a good, qualified buyer and striving to close with certainty are only part of the process. Additionally, brokers must uncover the best deal possible for their clients and solving that puzzle comes with determining the best and most effective way to transact. Brokers must utilize technology and data to provide a simple, transparent transaction method that does not end until the best and final offer is uncovered. Enter live bid auction format: Brokers can allow their clients to receive unlimited best and final offers, which typically cannot be done in a traditional transaction.
Not only does an online ‘Live Bid’ transaction method help ensure that the best possible deal is uncovered, it decreases the possibility of re-trade. Additionally, by accepting limitless offers online, not only will brokers uncover the truly best and final offers, they will not need to undertake the painstaking task of submitting countless letters of intent, as they would in a traditional sales process. In turn, a buyer’s reach has never been greater, as the pool of assets he can choose from is no longer limited to those located in his specific region. Without question, a transparent, simplified process for all benefits everyone.
Ten-X is the nation’s leading online real estate transaction marketplace and the parent to Ten-X Homes, Ten-X Commercial and Auction.com. Leveraging data science and customer centricity, Ten-X empowers everyone to buy and sell real estate online with confidence. The company has sold 260,000+ residential and commercial properties totaling more than $43 billion. Investors in the company include CapitalG (formerly Google Capital) and Stone Point Capital.