For Sale By Owner Auction (FSBOA)

o Owner has a quick, easy, and very cheap way to advertise their real estate on MiamiListingsService.com (“our” MLS), Miami’s Free Public Access Real Estate Cloud.

o Owner’s advertisement “indicates” that owner “intends” to sell either by “traditional offer or by auction” (not a distressed sale auction) and wants a potential buyer to direct an offer or bid to purchase to owner (via email, unless specified otherwise), and that the right offer or bid “will” make owner sell.

o Owner is not required to sign a formal real estate listing agreement (this is an advertisement).

o Owner deals directly with the public because only owner’s contact information is displayed in the advertisement. Only owner will receive initial communications from the public. We will not permit a real estate broker/agent to pay us to advertise their contact information next to owner’s advertisement because it may mislead the public to first contact the broker/agent instead of owner. We do not condone this type of bait-and-switch advertisement.

o Owner has the option to accept or decline an offer or bid (subject to auction rules).

o Owner may get an offer or bid to make owner sell, and at the right time.

o Owner may raise or lower the sale’s price to test out a price-point.

o Owner has the option to switch between advertisement and listing services.

o Owner benefits because owner is not required to place a for sale sign on their real estate for the public to see; yet, owner can silently entertain bids.

o Owner benefits without the downside of having a “stale” formal listing contract (e.g., about one year old) with a broker/agent that the public can see and track in the event the owner’s real estate did not sale.

o Owner benefits because owner controls the entire negotiation process, when to show their real estate (open house), and what’s in the ads.

o Owner is rewarded for their investment of time and money by pocketing what owner would have otherwise spent on a broker/agent’s commission.

Where is a For Sale By Owner Auction (FSBOA) advertisement placed?

o We place owner’s advertisement on “our” MLS, plus, other similar marketplaces (no commission to pay), and social media outlets where we allow anyone to share owner’s advertisement. Owner is also granted access to our auction platform to auction their own real estate. The advertisement on “our” MLS informs and directs a buyer to make a traditional offer or bid at auction. Also, if requested by owner, we will “list” owner’s real estate on a “different” MLS, if we elected to participate, and subject to its rules. Note that we do not recommend an owner to list (as FSBOA) on a “different” MLS because the listing is out of our control where we cannot provide any assurance that “only” owner’s contact information is displayed in the listing. We make a good faith effort to ensure that owner’s FSBOA advertisement on our MLS remains a true FSBOA (no commission to pay).

Sellers Features

o Publish auctions or fixed price ads

o Choose start and end dates and times

o Set a reserve price

o Set a buy now price

o Auto-relist if an auction is unsuccessful (no bids or highest bid < reserve price)

o Enter a commission % and tax % (only if enabled by administrator)

o Manage auctions, check detailed history and keep track of payment status

o Enter city, country etc. (Google Maps can be displayed on each auction page)

o Make an auction premium or highlighted

o Share auctions on social media (Facebook, Twitter and Google+)

Bidders Features

o Absentee bidding (Auto Bidding)

o Set up keyword alerts and receive an email if an item matches the entered criteria

o Keep track of auctions using a watch list

o Pay for auctions won using the built-in PayPal (all major debit and credit cards) payment gateway

o Keep track of leading bids and bids that are no longer highest bids

o Receive an email when a bid is no longer the winning bid

o Detailed history and keep track of payment status

o Seller rating (Feedback)