Karen - Thanks for the great questions.  The bidding will need to be completed by the bidder themself.  I suppose I wouldn't know if the agent was bidding for them or not though.  The registration process will involve name, address, email, phone anc CC#.  The CC# is mostly for verification that the name and address coorespond.  At this point someone is partially registered.  To complete registration, someone will need to tender their deposit.  This can be done by cc, send me funds that I put in escrow or ....it looks like we can get it done with paypal!!  After all of this, the person is able to bid.  They can also enter a max bid and the system will bid for them up to a max number.

If you do not have a passwrd, you can still lurk just can't bid.  Realtors participating will need to send agancy and broker registration forms to us before the prospect bids.  We are working on an "out of state" participation program in conjunction with my attorney.

Hope this answers some of your questions.  If noy, please ask again.

R

I don't think it takes the Realtor out at all. 

The issue with the Realtor bidding is a legal one.  The Realtor can not bind the client to the bid.  Each bid is binding on the bidder, just like their signature would be on a written offer.  An example would be that a Realtor can't sign their clients name on a contract, and have it be binding, without POA.

We are most definately interested in agent participation.  Just like in a live auction, the agent registers the bidder with the auction company on a separate form but the bidder must also register, accept the terms and conditions in writing themselves and bid for themselves.  As in a live auction, the agent can be advising the client, but it is ultimately the client that will make the bids on their own behalf.  Instead of raising a bidder paddle, they are typing a number and clicking "submit".

Someone may want a Realtor for a number of reasons.  A couple come to mind right away.

1 - The bidder may not be in the area where the property is located.  A local expert giving them advice could be very beneficial.  Since a buyers agent making the bidder comfy is good for the seller, a co-op is paid with a smile.

2 - Agents have buyers.  We market a lot to agents.

A Realtor would not need to sign up for anything necessarily.  They would, I am sure, want to register their client in advance of any bidding to protect any commission that would be offered.

There are a number of auction companies looking into this.

Thank you for the comments and questions.  This conversation is very helpful to me as I do not think like a buyers agent. 

Mark - This will be a public auction.  Open to all, but bidding will be on the internet only.

Karen - It may be coming to you soon.  Many auctioneers are looking at this option.