Demystifying Real Estate Auctions with Steven Jacobs, President at Ten-X

In this episode of Tech Nest, I explore commercial real estate auctions with Stephen Jacobs, President of Ten-X. Stephen shares his journey leading Ten-X (which is a really cool story, BTW) and debunks myths about auctions, explaining their strategic advantages beyond just distressed properties.

Learn how Ten-X leverages data and technology to streamline the auction process, ensuring faster and more certain sales. Stephen also discusses the evolving role of brokers and current market trends, providing valuable insights into the future of commercial real estate transactions. Hint: brokers are still very much relevant in today's transactions. 

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More about Steven and Ten-X
Ten-X is the world’s largest, online commercial real estate auction platform. Our platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close.

 CoStar Group’s online property auction platform, Ten-X, is the leading example of the rapid growth of online property auction marketplaces. Each year more and more buyers, sellers, and brokers are using this proptech tool to exchange properties. Events like its Battle of the Bids, which feature thousands of players duking it out for $3.1 million in prizes over 6 rounds to correctly guess how much various properties will sell for on the Ten-X platform, are a way to highlight the innovative ways that CRE marketplaces are drawing attention to their ecosystems. Battle of the Bids is also an example of the notoriously staid industry having a little fun and using gamification tools to drive awareness of new trends.

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