Bid Interact, the latest feature of Portfolio Interact, lets sellers monitor online REO auctions in real time, make reserve changes instantly and accept a live bid — all while displaying the bidding history and relevant value data in one convenient place for informed decisioning. A lack of decision-making data and portfolio reporting for REO assets creates a complicated process for sellers. Sellers using Bid Interact have said that the tool speeds sales, gives easy access to meaningful data and creates a more direct interaction between the buyer and seller.
- From November 2018 through October 2019, Auction Interact experienced a 796% increase in client usage.
- More than 5,500 pricing actions have been taken since the program’s inception to create a competitive bidding environment for assets.
- Sellers are finding that this tool increases performance, efficiency and sales by offering easy-to-access information for portfolio performance and actionable data for pricing optimization.