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Online real estate marketplace, Ten-X (formerly Auction.com), recently announced its new transaction platform created especially for buying and selling move-in ready homes.
Ten-X Homes was rolled out at the South By Southwest (SXSW) Interactive Festival.
According to an announcement from Ten-X, the new platform provides consumers and real estate professionals with enhanced flexibility, control and simplicity, and is optimized for use on desktops, tablets, and smartphones.
Ten-X Homes will allow consumers–on their own, or with the help of a real estate agent–to do everything involved in the process of buying and selling a home. Users will be able to search for homes, or easily create their own property listings, negotiate prices and terms, manage offers, and complete sales transactions all online.
Hundreds of homes will be available for purchase nationally from a wide range of sellers including banks, investors, institutions, home builders, and realtors–all of which will be listed by an agent and offer a broker's co-op. Additionally, home owners will be able to create their own listings on the Ten-X Homes platform initially in four markets: Dallas, Miami, Phoenix, and Denver.
“Real estate is moving online. Over ninety percent of home purchases include searches on websites like Zillow and Trulia,” said Jason Allnutt, General Manager of Ten-X’s residential real estate business unit. “Ten-X works with those companies to offer the only true end-to-end online transaction process – from the listing and searching phase through the close of escrow – empowering buyers, sellers and their agents with a safe, simple transparent way to buy and sell real estate.”
Ten-X Homes streamlines the negotiation process by enabling buyers and sellers to submit, accept, and reject counteroffers easily and with complete transparency. At any given time, a buyer, seller, agent, title or escrow officer, or lender can securely log in and use Ten-X’s proprietary Transaction Manager feature to complete their tasks online and see when the sale is expected to close.
“There is an enormous opportunity to garner a significant share of the $1.1 Trillion residential real estate market by delivering an easier, more transparent, complete end-to-end online solution that appeals to the consumer market,” said Ten-XCEO Tim Morse. “Ten-X offers a proven platform, a simplified process, and the information and tools needed for everyone to confidently buy and sell real estate online – whenever they want to and from wherever they are.”
Ten-X Homes allows sellers, or their agents to:
- List their home anytime, on any device using a Self List tool that walks them through the process step by step to add in amenities, photos, descriptions and listing terms
- Set their preferred list terms
- Easily view and compare offers side-by-side on a Seller Dashboard
- Negotiate with a buyer completely online utilizing Ten-X Negotiator, using all of the key terms required to consummate a contract
- Complete all transaction tasks online–and see exactly where the sale is in the process and what still needs to be done using Ten-X Transaction Manager
Ten-X Homes allows buyers to:
- Browse properties from all over the U.S. by state and city
- Submit offers directly to the seller online
- Easily track offers, listing updates and new homes that meet their criteria using a Buyer Dashboard
- Complete all transaction tasks online – and see exactly where the sale is in the process and what still needs to be done using Ten-X Transaction Manager
