In Autumn 2016, we launched ‘The Bid Engine’. It allowed investors to decide how much they’re willing to pay for property shares, while letting sellers know that price. With almost £1.9m traded in Bids so far, at an average premium of 3.35% to the initial listing price, this has been a huge success.
Now, you can find deals even faster. We’re delighted to introduce our newest tool ‘Bid Manager’. At a click, Bid Manager allows you to search the marketplace for deals that fit your specific buying criteria, and then bid on as many properties as you like.
As the Resale market grows, Bid Manager will make it quicker and easier to find investments that match your objectives. All those who don’t trade on the Resale market should also benefit, as we expect the tool to further improve liquidity. Never before has this functionality been brought to the world of residential property, and we’re excited to see the effect this will have on the marketplace.
How does it work?
Bid Manager can be found in your dashboard. Once there, you can either use our ‘preset’ search options, or set your own specific criteria.
Preset options will search for the best deals in terms of either income, or capital growth. Meanwhile, setting your own criteria can be done in this way:
Set your criteria
- Choose the minimum yield you’re looking for from your investments.
Choose the maximum price you are willing to pay to achieve that yield. You can set this as a percentage
premium/discount to the Latest Share Valuation.
- Hit search.
- Preview the bids generated by Bid Manager. You’ll see that they are colour coded in terms of how likely they are to match. Green means that your bid is at the highest bid price and will very likely match immediately. Bids displayed in orange fall between 2 and 3 points from currently available best offers, and are somewhat likely to match. Red bids are over 3 points from currently available best offers and unlikely to match in the short term.
- Simply click ‘Place Bids’, and Bid Manager will place bids according to your criteria. Some may match straight away.
- Once bids are placed, they follow the existing Bid rules. Read more in our FAQs.
Review your options
Scan the marketplace in seconds, and find deals faster. Click below to try out Bid Manager, now: