Online auction house Countdown To Buy, Bethel, Conn., has entered into its first private label deal, signing on Diamante Cabo San Lucas, a high-end golf resort.
The company said Diamante will use its web tools to auction a set of properties ranging from $250,000 to $2,200,000.
CTB is making its auction technology available to institutional clients. The platform allows sellers to list their properties for sale on their own website with CTB pulling the strings behind the scenes.
CTB says the web platform helps expedite real estate sales by automatically matching sellers and qualified buyers. The system reduces a property's list price each day within a pre-negotiated price range.
It is designed to allow real estate purchases using a system that reduces the price 1% daily until an offer meets or exceeds the in-house calculated daily price.
A CTB spokesman told this publication the agreement initiates a new service that is based on demand feedback from current clients. Other private label users have already expressed interest in using the platform to expedite high-end property sales domestically and internationally, he said.
