US online auctions website realtybid.com has partnered with MarketLinx to offer its real estate auction tool to MarketLinx customers.
Through the agreement, MarketLinx MLS users will be able to upload listing data and photos to realtybid.com and start an online auction.
realtybid.com provides an eBay-style auction service that features live, competitive bidding, along with a system called BidAssist for automatically making incremental bids up to a predetermined maximum. The website states it has sold and closed over 25,000 properties since it was established in 2001.
"Foreclosures and bank-owned sales are a big part of today’s real estate market,” said Ben Graboske, chief executive officer of MarketLinx. “Online real estate auctions have gained wide acceptance in recent years and are especially effective when working with motivated sellers. By integrating realtybid.com with our MLS systems, we help our customers succeed in these unique conditions."