A new Florida based real estate auction network has just been launched inviting bids on bank owned houses, short sales and other distressed properties.

Bidabing.com describes itself as a “hybrid auctioning, social networking and real estate search engine”. The website includes blogs and a forum as well as featured agents and featured listings.

Bidabing.com says it is a free-to-list website, but there are “some fees associated with auctioning and advertising within the site”. It goes on to explain the benefits of the website for agents:

“Bidabing allows agents to post all of their listings at no charge. Using the site’s networking and marketing features will help agents promote their listings to all of the contacts FREE of charge. In addition agents can convert their listing into bidabing.com auctions to create more interest.

Driving traffic to your auctions can be done from within the site by emailing, blogging or featuring the property. You will be able to monitor your registered buyers activity from the ‘my bidabing’ page. Staying in touch and engaging your sphere has never been more fun and easy.”

Property Portal Watch

Alice Allan

MIAMI - (Business Wire) BidaBing Corporation announced the launch of their real estate auctioning network today. The company is inviting Florida Realtors, lenders, buyers and sellers to list their real estate inventory at Bidabing.com and bid on bank owned properties, short sales and other distressed properties. Executives at BidaBing expect the site to be a big hit with agents and loss mitigation departments dealing with short sales. The open platform offers forums, groups, blogs, Q&A’s and other ways for users to interact and promote their products and services.

The company suggests that certificates issued for each auction, which state the final results, can save lenders the time required for verifying whether contracts represent true “arms length” deals at true market value. “I’m looking forward to using the auction feature if only to present the bank proof of the competitive process,” said Millie Rojas of Century 21 Stars Realty in Miami.

According to Rick Diaz, the founder of BidaBing Corporation, the certificate shows the duration of the auction, the number of participating bidders, the final status and the names of the parties involved. “Our goal is to create an online environment that makes it easy and fun for any qualified buyer to bid on real estate – not just investors. Although I feel we’ve done a great job so far, our team has dozens of projects in the works that will make BidaBing even more engaging. These trying times call for innovation and unique strategies,” said Rick, who is no stranger to real estate. He was an active agent for twenty years up until the BidaBing launch. Now, he says, he will use his experience, relationships and the latest technologies to build tools that help BidaBing users buy and sell properties.

The site features several free marketing tools such as automatic syndication to other real estate sites and a product and service directory. The site welcomes all users but is particularly useful to real estate professionals hoping to single out qualified buyers with a foreclosure (offer they just cannot refuse), and making them compete for it.

BidaBing Corporation, Miami