RealtyBid Review

RealtyBid is a website where you can bid on properties and list homes for auction. It's primarily used to sell foreclosed and distressed homes, although technically any property can be listed.

The site is comparable to many other real estate auction websites. It can help sellers quickly find buyers for properties, and it can be a good way for investors to build their real estate portfolios.

But, as with most online real estate auctions, there are risks. Sellers are unlikely to get fair market value for their homes, and buyers need to do extra due diligence. Properties can come with unresolved legal and financial issues that buyers would inherit.

If you’re eager to sell your home quickly, we recommend comparing RealtyBid to alternatives. For example, companies like Clever Offers source multiple cash offers on your behalf. You can compare competing cash offers to maximize your profit and sell in as little as 7 days.

Who does RealtyBid work best for?

RealtyBid may be worth considering if you need to sell as fast as possible and you’re not concerned about how much money you get from the sale. While any house can be sold on RealtyBid, in practice, most of the homes are either in foreclosure or distressed in other ways.

For most sellers, RealtyBid likely isn’t the right choice. You’ll still need to use a real estate agent to list on the website — meaning you’ll be paying real estate agent commission — and you’ll most likely get less for your home than you would on the open market.

Even if you need a quick, as-is sale, alternatives to a RealtyBid auction may work better for you. Consider some cash buyer companies in your area that can make all-cash offers, close extremely quickly, and buy distressed homes.

If you have a bit of extra time, we recommend selling with a real estate agent on the open market. You may get a higher sale price, and your realtor can advise you on whether to fix up your house or sell as is.

When working with an agent, you can get full service without paying full price. If you're interested in saving on realtor fees, consider choosing a low-commission agent who can implement strategies to maximize your profit and sell on your timeline.

RealtyBid reviews and complaints

We didn't find many RealtyBid reviews online, only a handful published on Google. These reviews are mixed. And all but one are more than five years old, so they don't reflect how impressed (or not) customers have been with RealtyBid recently.

The only recent review we uncovered came from a real estate agent in Minnesota who claimed that her client’s home was being illegally listed on the website:

“My listing is on this website. This is a SCAM. My clients and myself never hired this company to list their house. The bank didn't hire them to sell the house either. You cannot have two brokerages list the house without a Non-exclusive Agreement with all our signatures on it which I know this brokerage doesn't have. This is illegal, fraud, and misrepresentation of this property and transaction.”

— Ivadel N., Feb. 2025, Google

We can’t verify this realtor’s accusations, but they highlight the importance of doing extra due diligence when buying a property on RealtyBid.

RealtyBid does have a couple of five-star reviews, with one saying:

“Great customer service.”

— Wendy U., 2019, Google

The reviewer didn’t provide any details of how RealtyBid provided great customer service, and their review is six years old. That said, it’s worth acknowledging that at least some people have had a positive experience with RealtyBid.

In-depth RealtyBid review

Service quality

RealtyBid online auctions are similar to what competitors offer. Bids are fairly easy to place, and there are some perks for active investors. For sellers, setting up a listing is also straightforward, although, unlike some competitors, you will need a real estate agent to do so.

RealtyBid includes a Bid Assist function that allows you to set athemaximum price you’re willing to bid on a property. If you’re outbid, Bid Assist will enter a new bid amount on your behalf up to your maximum bid price. This feature increases the chances of winning an auction even if you can’t monitor it yourself.

Also, RealtyBid includes a VIP Investor Program for highly active bidders. The VIP Investor Program includes five tiers ranging from Bronze to Premium Pro and is based on the number of properties purchased per year and the sum of purchase prices.

Benefits to the VIP Investor Program range from bulk purchase opportunities and customized inventory list emails for Bronze members up to an iPad Pro, a VIP appreciation retreat, and a dedicated closer for upper tiers.

Offer quality

Offers on RealtyBid are likely to be lower than what you would get on the open market. Offers are not made by RealtyBid itself, but rather by investors who are using the platform. Because RealtyBid is an online auction site, it is possible — although unlikely — that your property could get multiple bids that drive up the sale price.

Realistically, however, you’re unlikely to make close to fair market value on RealtyBid. Real estate investors are looking to make a profit, so they usually pay less than market value for homes.

Also, many of the homes on RealtyBid are bank-owned and heavily discounted. If you list on RealtyBid, you’ll be competing against these homes, so you’ll likely need to price yours similarly in order to attract buyer interest.

While every investor has their own investment strategy, many follow the 70% rule. The rule is to pay up to 70% of a property’s after-repair value, minus the cost of repairs. In other words, you should generally expect buyers to offer you 30% below market value.

A better way of ensuring you get a high-quality offer is by using Clever Offers. With Clever Offers, you can compare multiple cash offers and sell in as little as 7 days.

Fees and other costs

RealtyBid’s fees, which are only charged to buyers, vary depending on the type of auction and how much sellers choose to charge. In general, fees are roughly in line with what other real estate auction websites charge.

If you purchase an REO property on RealtyBid, you may have to pay a transaction fee. While the transaction fee varies from listing to listing, 5% or $2,500 (whichever is higher) is common, which is similar to what similar sites, like Xome, charge. There are no transaction fees for CWCOT listings.

Buyer agent commission is another consideration and will be mentioned in the listings. Unlike traditional real estate listings, buyer agent commission is usually listed at a flat rate, often under $2,000.

Finally, to bid on properties on RealtyBid, you’ll have to make a $250 bid deposit. If you fail to complete the purchase of a bid you’ve won, you’ll lose this deposit (essentially turning it into a cancellation fee).

If you're a seller, RealtyBid won't charge you any fees to list and sell on the platform. However, you'll need a listing agent, so you’ll be responsible for paying your realtor a listing fee.

Credibility

RealtyBid is a legitimate company and was one of the first real estate auction websites. It was founded in 2001 in Rainbow City, Alabama, by a group led by Tony Isbell, a real estate auction veteran. By 2014, it had helped sell over 100,000 properties.[1]

The company has been sold to multiple companies over the years, most recently to Covius in 2019. Covius is a major provider of tech services to financial, mortgage, and real estate companies and was a 2025 HousingWire Tech100 winner.[2]

While RealtyBid is a credible brand, it seems to be less active than some of its competitors. For example, RealtyBid has only 32 property listings in California, and Auction.com has over 1,200 (as of April 29, 2025).

Also, RealtyBid reviews are hard to find online. This could reflect the company's fewer listings compared to some competitors.

RealtyBid vs. alternatives

RealtyBid competitors include other real estate auction sites, iBuyers, and cash offer companies like ‘we buy houses’ companies. For most sellers, alternative services may be able to get you a better price on your home while still helping you sell quickly.

RealtyBid’s main draw is that it will help you sell very quickly, often by the end of the auction period or shortly after. Plus, if you’re selling a home that needs work, it’s a viable option, since as-is properties are common on the platform.

However, iBuyers and cash offer companies can also help you sell fast, and they’ll give you an offer within 24 hours. That is often faster than how long it will take for an auction period to finish on RealtyBid.

Cash buyers and iBuyers, like investors on RealtyBid, won’t pay market price for properties.

However, you can still maximize the value of the offers you receive by shopping around. By using Clever Offers, for example, you can get multiple cash offers and choose the one that best fits your needs.

How RealtyBid works

RealtyBid allows you to bid on properties for sale and put your own property up for auction. Properties have a “reserve price” set by the seller, which is the minimum value a bid must reach before the seller will accept it. However, sellers are not obligated to accept any offer, even if it reaches the reserve price.

RealtyBid has four different types of listings, each with different rules, risks, and advantages. The four listing types are:

• Online REO (Real Estate Owned): These homes have been foreclosed and are now being sold by a bank through RealtyBid. They tend to come with fewer risks since they usually have clear titles, and you can bid for them via RealtyBid.com.
• Online CWCOT (Claims Without Conveyance of Title): CWCOT are HUD-backed properties that you can also bid on through RealtyBid’s website. While similar to REO properties, they’re generally riskier since they don’t come with contingencies for inspections or appraisals, and they may have liens or unpaid property taxes.
• Live Foreclosures: A live foreclosure is an in-person auction. You can’t bid for these homes on RealtyBid.com, although the website will include information about the auction place and date.
• County Online Foreclosure: These are foreclosed properties that are being auctioned through the local county’s website. You can’t bid for them on RealtyBid, but the RealtyBid listing will include a link to the county website where you can place a bid.

Selling with RealtyBid

The only way to list a property on RealtyBid is by having an active real estate license. That means you’ll need to contact a real estate agent to list your property for you. After you do that, you and your agent will complete the following steps:

1. Complete auction details: You’ll work with your realtor to determine a reserve price, auction date, and whether to accept financed offers or just cash offers.
2. Complete listing information: The listing will include a property description, legal forms, photos, occupancy status, and contingencies.
3. Wait for bids: The auction will go live, and you can start reviewing bids with your realtor. You can accept an offer that meets the reserve price, although you’re also free to reject it.
4. Get post-bid offers: You can still receive offers for up to seven days after the live auction period ends. Your realtor will negotiate with interested buyers and present offers to you. You’re free to accept or reject any offer during this period, and you can end the post-bid period before the seven-day deadline.
5. Proceed to closing: Once you accept an offer, you’ll sign the sales contract and proceed to closing. The contract will list any closing costs and listing fees that will be deducted from the sale.

Buying with RealtyBid

Anyone can bid on properties on RealtyBid. Generally, the process looks like this:

1. Registration and deposit: You need to create a free profile on RealtyBid before bidding. Once you’re ready to bid, you also need to make a $250 deposit via credit card.
2. Property search: You can search for properties by address, auction type, or property features. Each listing indicates whether the property is Online REO, Online CWCOT, Live Foreclosure, or County Online Foreclosure.
3. Due diligence: Before placing a bid, perform as much due diligence as possible. Some listings include a Foxy AI Valuation & Condition Report, which includes AI-generated info about the property’s condition, value, and potential renovation costs. Other listings also include disclosure forms detailing issues with the property. Be aware that some homes can't be entered because they’re owner- or tenant-occupied, and some, especially CWCOT listings, may include unpaid property taxes and liens.
4. Bidding: You can bid on RealtyBid for Online REO and Online CWCOT listings by clicking the ‘Bid Now’ button. The listing indicates if the reserve price has already been met and when the auction will end.
5. Bid acceptance or rejection: After the auction period ends, you’ll get an email stating if your bid was accepted and which steps to take next. Keep in mind that the seller can reject a bid even if it exceeds the reserve price.
6. Closing: Negotiate the terms of the purchase with the seller’s listing agent. Some sellers will allow inspection and appraisal contingencies, but many properties are sold as is. Be prepared to have enough cash on hand at closing to cover the entire purchase price plus transaction fees.

RealtyBid locations

RealtyBid is available for buyers and sellers nationwide. However, the availability of listings is uneven, with some states, such as Alaska, Hawaii, Idaho, and South Dakota, having few or no listings.

Methodology

We evaluate each company that buys houses for cash based on five core criteria:

• Customer reviews
• Service quality
• Offer quality
• Fees and other costs
• Credibility

Customer reviews

Review analysis. We perform an in-depth analysis of all the available customer reviews to determine trends. We break down the reviews by theme and sentiment and filter out spam reviews to determine our rating.

Company responsiveness. Negative reviews are part of doing business; however, we take note of whether a company is actively involved in resolving customer complaints.

Service quality

Customer experience. We rely on secret shopping and fact-checking interviews with company representatives to look for indicators that the company is professional, communicative, customer-focused, and ethical in its dealings with customers. We verify this information against customer reviews and interviews with past customers or professionals (realtors, former employees) who have had direct experience working with the brand.

Offer quality

Price. While nearly all cash buyers pay less than market value for homes, we look at how competitive the company's offers are compared to similar companies.

Purchase criteria. We also look at the company's purchase criteria to see how flexible and accommodating they are in making offers. Companies that offer a fair price for homes that other buyers won't purchase can still get a high rating for offer quality.

Fees and other costs

Competitiveness. We look at how the company's fees and other costs compare to competitors.

Value. We consider whether the fees are justified by the value offered.

Credibility

Trust signals. We look at how long the company has been in business, the number of verified customer reviews it has, how willing the company was to answer questions about its business model when we contacted it, and how easy it is to find detailed information on its website — including the names and contact details of specific team members. We also look at customer reviews to determine whether the company acts with honesty and integrity in its business dealings.

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