First online real estate auction platform with integrated real-time bidding portal in Switzerland
Residenture brings the successful business model from Australia and the USA to Europe. The "open bidding process" combines transparency, fairness and security in a legally compliant digital space.
High brokerage fees, non-transparent market price development and a lack of data-based property price analyses led to fundamental changes in the real estate brokerage process. These analogue sales practices will give way to fully automated bidding platforms with real-time auction functionality in the future.
This online portal for real estate auctions (in real time) will serve Europe’s digital bidding market for the first time. Approved bidders are given access to a digital and secure “auction room”. The verified interested parties can bid for their desired property there – completely transparently and in real time. Only the highest bidder is awarded the contract. The company stands for legally verified security of an online platform with identified sellers and bidders as well as verified properties and real estate.
For sellers, the platform is free of charge. Potential bidders receive an objective price estimate for the offered property based on AI algorithms. This market price is based on calculations from large databases. They reliably analyse all common factors that influence the min./max. property price. The values are presented graphically for a profitable purchase price decision. Interested parties know at any time during the auction what is being offered for the desired property. Sellers and interested parties receive continuously updated market price estimates, location valuations and price development information. At the end of the auction, the highest bidder is awarded the contract. No other preferences or arbitrariness influence the sales process.
“The legal security of the platform, the identification of persons, the verification of the property and the property(ies) on it are essential in this context,” says Marco Brändli, CEO and CoFounder of Residenture. “We verify all required security aspects and guarantee comprehensive security for bidders.” Currently, the digital marketplace is being further validated. At the beginning of next year, the first properties in Switzerland will be auctioned on its auction platform. Leading players in this industry are at its side.