Prop.Exchange, powered by TrueMarketValue, is a digital auction platform for trading commercial real estate properties; it's where supply meets demand. The purpose of this digital tool is to effeciently trade properties at the true market value - and in a time effecient manner.
The challenge we are solving
- The property valuation is uncertain; there are only few relevant comparables
- The running costs are a burden - taxes, reporting, maintenance, security, etc.
- Selling has been time consuming and frustrating - no easy solutions existed before, without compromising good governance
Our solution in 3 easy steps
- Preparations - due diligence material/essential documents and the SPA are added to our data room
- Marketing – in newspaperrs and virtually
- Digital auction – divestment by Dutch Auction on Prop.Exchange
The Dutch auction is characterized by a descending price, starting at index 100 and e.g. decrease 1 point every weekday at noon until a bidder accepts the price offered or until seller decides to take the property off the market. Once a bidder accepts a price offered, the bidder has 2 business days to sign the purchase offfer/SPA and pay a reasonable deposit. If the bidder fails to performhe becomesdisqualified from this and future auctions - and the auction will resume for everybody else. Interested bidders can can access relevant data, drawings, and the applicable contracts after log-on and qualification for the auction.
The value for sellers
- It's very time efficient
- Determines and documents the true market value
- Sales complexity, costs, and time are significantly reduced
The value for buyers
- All buyers have access to the same information
- The auction takes out the "bluffing" of the negotiation
- No bias or disadvantages due to a lacking relationship
For more information, do not hesitate to contact us.
Allan Kehlet Rieck
Founder and CEO
+45 21 79 01 59