Ten-X will launch two new transaction platforms targeted at buyers, sellers and real estate agents to buy and sell residential and commercial real estate online.
The Irvine, Calif.-based company will unveil Ten-X Homes and Ten-X Commercial at the annual SXSW Interactive Festival in Austin, Texas, on Friday.
Ten-X Homes, created for buying and selling move-in ready homes, will allow users to search for homes, or create their own property listings, negotiate prices and terms, manage offers and complete sales transactions online. The platform will launch in the Dallas, Denver, Miami and Phoenix markets before it opens nationwide.
Ten-X Commercial will feature three transaction options: Live Bid, an online auction offering; Managed Bid, a process whereby interested buyers submit sealed indicative bids to qualify for a short list that will compete for a property in a scheduled online auction event; and Offer Select, a non-auction offering that brings the traditional real estate transaction process online.
Both platforms are optimized for use on desktops, tablets and smartphones, according to Ten-X.
"We're on a mission to make the experience of buying and selling properties exponentially better for everyone involved," said Ten-X CEO Tim Morse in a statement. "Our new platforms combine the familiarity of traditional real estate transactions with the transparency, efficiency and ease that the Internet has brought to other market sectors, like travel and financial services, and sets a new standard for our industry."
