The Netherlands-based cooperative association of real estate agents (NVM), which owns the leading local real estate marketplace, has introduced a new online property bidding site. lets buyers register with the platform, determine property conditions, including financing status, set the highest bid and make an offer. The bid is only visible to the seller and his / her broker and not to other bidders.

The system also offers an option of open-bidding, which has been in use since last year and through which NVM facilitated more than 1,000 transactions.

The new bidding system is free for the bidder, but it will levy a fee on the seller after sometime, according to NVM.

“With this innovation, we provide an answer to the increasing demand and need among consumers for a digital, reliable and transparent bidding system for homes,” said Edzard Bijvoet, CEO NVM Service Office.

Nieuwegein-based NVM has more than 4,400 affiliated brokers and assessors. Founded in 1898, it is the country’s biggest member organization of real estate professionals, dealing in residential, commercial, agriculture and rural properties.

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