HomeBids FAQ’s

No. You can counter or reject. You should discuss strategy with your Homebids Certified Agent.
Yes. Selling a home is a complex transaction. Having a Homebids Certified Agent will help assure you a successful transaction.
That’s up to you if you decide to accept what buyers feel the home is worth.
Buyers pay a premium above the highest bid (which is common for bidding platforms). With Homebids the most popular option is for buyer to pay half of the commission plus 0.5% fee to Homebids added to a winning bid. Seller pays the other half of the commission. Total commission plus 0.5% fee to Homebids is paid from the selling price at close of escrow
Yes you can select a Homebids Certified Agent who is specially trained to provide you full service.
No. Your Homebids Certified Agent will use standard real estate approved forms normally used and provided by the California Association of Realtors®.
Auctions typically refer to distressed properties. Homebids is a platform for all types of properties including luxury.
If you want less disruption of your life & daily schedule, accelerate the pace of selling your home (we can typically sell in 8 days through our maximum exposure techniques and with multiple offers), then sell on the Homebids platform.
Yes you can, however we don’t recommend it. Your Homebids Certified Agent can help explain why.
Yes we have a transparent platform so buyers, sellers, and agents can always see the current high bid in real-time.
Not at all. Just request approval from the listing agent and begin bidding right away. Also your agent can get approved and bid on your behalf as well.
Yes, but not to bid. If you are one of the high bidders & are invited to submit a formal offer, you must have representation. Buying a home is a complex transaction. Having an agent will help you get to the finish line.
Yes. Just set your upper limit & the system will bid in $1000 increments on your behalf up to your maximum, enabling you to effortlessly maintain your competitive position.
It allows you to not be blinded in the bidding process, giving you the opportunity to see what other buyers are bidding for the same property. Think of it as "Overbid Protection Insurance." Since the buyer can always see the current high bid, there is no danger of submitting an offer that is $20k, $30k, or $50k over the #2 offer as often happens in the traditional blind offer process.
Buyer’s Premium is a percentage fee paid by the Buyer. The amount of the Buyer’s Premium will be added on top of the accepted bid which shall establish the final sales price. Bid + Buyer’s Premium = Sales Price (the amount entered into the Purchase Agreement). Note that for a 20% down buyer, for example, 80% of the Buyer's Premium actually gets financed by the lender.
No. Just standard contracts your agent already uses.
You will be alerted through email or by watching the bidding process on the listing website.
No, there is no reserve or buy now price. Seller reserves the right to accept, counter or reject any bids.
Absolutely not. Having an agent as a representative for each party is extremely important. We are agent-centric!
As part of a bidding strategy you start at a low starting bid price and allow market forces to determine what the highest bid will be. It creates interest and momentum.
Normal can be slow, boring and painful. Why not accelerate the pace providing less disruption. Sell more homes in a shorter amount of time.
It’s really a matter of being honest. It’s also a matter of being effective and efficient with your clients.
Contact us at jeff@weissman-realestate.com.com or use our contact form. We offer certification courses periodically.
You will be paid just like you normally are in a typical real estate transaction. See the MLS for "Comp to Selling Office"
No, you use standard real estate contracts.
Not necessarily. You still have to provide the Listing agent with terms of your offer. As in the traditional blind offer process, the highest offer is not necessarily the strongest or most appealing offer to the seller. Terms are critical to your buyer's success.

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