Ten-X Announces $1 Million – GuruFocus.com

Ten-X – the world’s largest online commercial real estate exchange and a CoStar Group brand – today announced the big winner of its inaugural “Battle of the Bids” competition. The grand prize winner, Mike King, realtor at Kidder Mathews in Seattle, received the grand prize of $1,000,000 along with a $100,000 donation to a charity of his choice.

The “Battle of the Bids” contest is the premier commercial real estate gamification, bringing together approximately 15,000 commercial real estate owners, buyers and brokers to compete for a total of over $3,000,000 in prizes to bet as accurately as possible the final trading price of real estate on the Ten-X platform. Over a total of eight rounds, which began in April, players in the competition gained first-hand experience with the platform by selecting up to ten properties per round to bet on the price the properties would exchange during the auction. Points were awarded for properties sold on the Ten-X platform. More points were awarded based on the accuracy of the bet against the final trade price. The winner was determined by the highest score, indicating the most accurate predictions across all eight rounds.

King, the winner, selected Big+Brothers+Big+Sisters+of+America, a youth-focused nonprofit organization committed to helping children reach their potential through one-on-one relationships supported by professionals with mentors to receive the $100,000 donation. Along with the grand prize and charitable donation, Ten-X awarded $100,000 to the contestant with the highest score in each round, along with a number of smaller prizes, for a total donation of $3,100,000. and in price. King’s bet was so accurate that in addition to the grand prize, he also won the eighth and final round of the competition for a combined total of $1.3 million in winnings.

The competition – which saw a total of over $1.5 billion in properties on the CRE platform during the competition period – required an in-depth knowledge of commercial real estate investments, valuations and sales, and the winners have devoted considerable time and energy to historical research. sales data, monitoring the live online auction of properties and placing their bets.

“We were thrilled to see such incredible engagement with the ‘Battle of the Bids’,” said Ten-X President Steven Jacobs. “A competition of this scale and nature is only possible because of the strong data and sales volume on our platform, and we are thrilled to see such skillful gameplay throughout all eight rounds.” Battle of the Bids” has succeeded in its mission to bring new customers to Ten-X, put our technology directly into the hands of more real estate professionals, and show the industry how it is fun to trade real estate on the Ten-X platform.”

For more information on the contest, including a full list of winners, visit BattleoftheBids.com.

About Ten-X

Ten-X is the world’s largest online commercial real estate exchange. For over twelve years, the Ten-X platform has provided brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to increase market visibility and reduce time to close. With Ten-X, brokers and salespeople operate a digital platform that facilitates asset onboarding, assesses the success of complementary marketing campaigns in real time, and tracks the strongest prequalified leads. Buyers are accurately matched to properties aligned with their investment goals, with unparalleled access to market analysis and due diligence materials to help them acquire properties online safely and with confidence .

About CoStar Group, Inc.

CoStar Group, Inc. (NASDAQ: CSGP) is a leading provider of online real estate marketplaces, information and analytics. Founded in 1987, CoStar conducts extensive and ongoing research to produce and maintain the largest and most comprehensive database of commercial real estate information. Our suite of online services allows clients to analyze, interpret and gain unparalleled insight into commercial property values, market conditions and current availability. STR provides premium benchmarking data, analysis and market intelligence for the global hospitality industry. Ten-X provides a leading platform for conducting online auctions and negotiated offers in commercial real estate. LoopNet is the busiest online marketplace for commercial real estate. Apartments.com, ApartmentFinder.com, ForRent.com, ApartmentHomeLiving.com, Westside Rentals, AFTER55.com, CorporateHousing.com, ForRentUniversity.com and Apartamentos.com form the premier online apartment resource for renters looking for superb apartments and provide property managers and owners with a proven platform for marketing their properties. Homesnap is a leading online and mobile software platform that provides user-friendly applications to optimize residential real estate agent workflow and strengthen the agent-client relationship. Homes.com provides residential property advertising and marketing services to real estate professionals. Realla is the UK’s most comprehensive digital commercial property marketplace. BureauxLocaux is one of the largest real estate portals specializing in the purchase and rental of business real estate in France. CoStar Group websites attract tens of millions of unique visitors per month. Based in Washington, DC, CoStar Group has offices in the United States, Europe, Canada and Asia. From time to time, we plan to use our corporate website, www.costargroup.com, as a channel for distributing important company information. For more information, visit CoStarGroup.com.

See the source version on businesswire.com: https://www.businesswire.com/news/home/20220818005623/en/

Comments are closed.