Ten-X Releases Offer Select 2.0, The Solution For Negotiated Commercial Real Estate Transactions

Offer Select Sees Over $1 Billion of Assets Traded, in Pipeline During First Year

IRVINE, Calif. and SILICON VALLEY, Calif., May 18, 2017 /PRNewswire/ -- Ten-X Commercial, the nation's leading online real estate marketplace, today announced the release of Offer Select 2.0. Launched in 2016, Offer Select closely mirrors the traditional commercial real estate transaction process, but streamlines the transaction with standardization and technology. 

Ten-X (PRNewsFoto/Ten-X)

Offer Select 2.0 makes it even easier for real estate investors and brokers to buy and sell real estate online. The recently unveiled updates simplify the buying process by letting buyers upload their own letter of intent or submit their offer terms online, and by allowing them to make offers prior to completing the certification process. New filtering functionality also allows investors to hone in on specific asset types, such as net lease properties. Offer Select 2.0 also includes a completely redesigned property details page, which enables sellers to better showcase their assets and provide buyers with more data to evaluate investments.

"On the heels of the solid traction Offer Select gained in its first year, we listened intently to our customers' feedback on how we could further improve the platform and make its functionality even more powerful and intuitive," said Steve Jacobs, general manager of Ten-X Commercial. "These enhancements are a result of that dialogue, and our ability to roll them out quickly means that our clients will benefit from their implementation immediately. As the real estate landscape continues to evolve, buyers, sellers and brokers are increasingly embracing our online marketplace for transacting high-quality commercial properties. Our continued focus on refining Offer Select will ensure that Ten-X Commercial provides innovative solutions to meet the needs of our customers."

In addition to Offer Select, Ten-X Commercial provides sellers and brokers with other transaction solutions, including "Live Bid", its signature auction-based format, and "Managed Bid", a hybrid approach that allows prospective buyers to submit indicative bids and concludes with an auction between the shortlisted buyers.

Added Jacobs: "The three transaction solutions we offer are reflective of the simple fact that no two commercial real estate deals are created alike. With Offer Select, Live Bid and Managed Bid, Ten-X Commercial offers sellers and brokers the flexibility to choose the specific transaction solution that is best suited to attracting the right buyers and maximizing the value for that particular asset."

Offer Select 2.0 brings speed, simplicity and transparency to the entire transaction process, and provides sellers, brokers and buyers with unprecedented certainty of closing. With Offer Select, sellers and brokers set their preferred terms and keep transactions moving by managing negotiations online, from any device, while buyers have access to a wide selection of quality properties and the ability to see multiple competing offers. 

Recent transactions on Offer Select include:

  • The sale of Northfield Square Mall, a regional mall 50 miles south of Chicago, for $9.6 million
  • Solana Beach, a state-of-the-art retail building in a highly desirable Southern California location two blocks from the beach, which sold for $10.4 million
  • Umpqua Bank in Liberty Lake, Washington, a net lease asset which sold for $2.1 million and went from list to close in 28 days

In addition to streamlining the transaction process through the use of technology, Ten-X uses sophisticated data science to reach hidden buyers across the globe, including institutions moving capital into U.S. markets.

For information about listing or purchasing commercial property via Ten-X Commercial, visit Ten-X.com/commercial or call (844) 694-4976.

About Ten-X
Ten-X is the nation's leading online real estate transaction marketplace and the parent to Ten-X Homes, Ten-X Commercial and Auction.com. To date, the company has sold 292,000+ residential and commercial properties totaling nearly $48 billion. Leveraging desktop and mobile technology, Ten-X allows people to safely and easily complete real estate transactions online. Ten-X is headquartered in Irvine and Silicon Valley, Calif., and has offices in key markets nationwide. Investors in the company include CapitalG (formerly Google Capital) and Stone Point Capital. For more information, visit Ten-X.com.

SOURCE Ten-X

For further information: Amanda Ferraro, Beckerman, 201-649-1186, aferraro@beckermanpr.com


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