Question 1

What happens after the auction ends?

Accepted Answer

After the auction ends, the winning agent has a 10-minute exclusive window to complete payment and secure the listing. If the agent doesn't pay within that time, the listing becomes available to all participating agents at the same winning bid amount.

Question 2

How do I know if the agents I invite are qualified to sell my home?

Accepted Answer

When you invite agents, you'll see a ranked list of the top 100 licensed agents in your ZIP code, based on total dollar volume sold over the past 12 months. These rankings update monthly, helping you identify top-performing agents in your area.

Question 3

How many agents can I invite to bid on my home?

Accepted Answer

You can invite anywhere from 10 to 100 agents. Whether you invite the top 10 or all 100 ranked agents in your ZIP code is entirely up to you.

Question 4

Do I get the winning bid amount?

Accepted Answer

Yes. You receive 50% of the winning bid amount once your home sells or the listing agreement expires. Agent Arena retains 50% as a service fee for facilitating the auction and payment process.

Question 5

When do I get the winning bid amount?

Accepted Answer

Agent Arena collects the full winning bid payment from the agent after the auction. Once your home sells or the listing agreement expires, Agent Arena pays you 50% and retains 50% as its service fee.

Question 6

What is the opening bid amount?

Accepted Answer

The opening bid equals 5% of the agent's potential commission. For example, if the agent could earn $100,000 in commission, the opening bid starts at $5,000, and bids increase in 10% intervals.

Question 7

Am I obligated to accept the highest bid?

Accepted Answer

Yes. Once the auction concludes, you agree to proceed with the highest valid bid, subject to finalizing the remaining standard terms of the listing agreement. If you and the agent cannot agree on those remaining terms, the auction will be void and the agent's payment refunded in full.

Question 8

Can I negotiate the listing price or commission rate after the auction?

Accepted Answer

No. The Price, Commission Rate, and Listing Duration you set during registration are final and can't be changed by either party. You and the agent will only finalize the remaining standard details, such as marketing strategy, showing access, and property disclosures.

What you need to know

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