New online auction product for CRE properties launched

End-to-end CRE transaction platform biproxi has launched a new online auction product for commercial real estate properties.

The Live Offer solution enables brokers to control the process from start to finish with multiple options and flexibility. Working with biproxi advisors brokers can adjust options such as the start and end date; the time of the auction; the minimum acceptable offer; minimum offer increments; the earnest money deposit amount; the closing date; approval of prospective buyers to participate in the auction; and the maximum bid amount for each participant.

"We worked closely with brokers who have extensive experience auctioning commercial properties online to design our Live Offer platform," said Gordon Smith, biproxi CEO. "This allowed us to build in the kind of features and functionality brokers want in an auction platform, while delivering more flexibility and broker control than any auction product on the market."

Biproxi already has around 100,000 CRE listings and works with brokers to actively market the properties on the Live Offer platform to frequent buyers of the right type of properties.

There are also marketing tools that enable brokers, buyers and sellers to execute transactions online, also offers a non-auction transaction solution.