A new real estate auction service aimed at assisting sellers with marketing and final sale — while also protecting a real estate agent’s commission — has opened its doors.

Takeaways:

  • Bidzera is a real estate auction service; the auction price includes marketing fees and a listing agent’s commission.
  • Keeping an agent’s commission intact is a focal point of bidzera.
  • The company will hold its inaugural auction on Aug. 27 outside of Buffalo.

A new real estate auction service aimed at assisting sellers with marketing and final sale — while also protecting a real estate agent’s commission — has opened its doors.

Based in Buffalo, New York, bidzera guarantees to offer owners an “efficient means for selling their property at fair market value.”

Courtesy of bidzera

Courtesy of bidzera

The service offers sellers several plan options when it comes to marketing and selling properties.

The absolute auction includes a marketing fee ranging from $500 to $700, with the sellers also paying a 6 percent commission to the listing agent — with a $1,500 minimum. At auction, the property will sell for the highest price following the closure of bids.

If a seller wishes to set the minimum price at which the property will sell — reserve auction — he or she must pay a $1,000 to $2,000 marketing fee, along with the same commission structure as above.

“Instead of letting a listing expire and everyone losing out on the sale, our model insures the seller can get fair market value for their property, and the agent gets their contracted compensation,” said John Polvino, president of bidzera. “Our model focuses on providing the professional real estate salesperson another tool in their arsenal.”

The company will hold its inaugural auction on Aug. 27 outside of Buffalo. Up for bid will be three lakefront lots ranging between 4 and 5 acres in Evans, New York, along with a custom luxury home in Elma, New York.

Email Erik Pisor.

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