RealtyBid Reviews

RealtyBid is a real estate auction website where you can bid on homes or put your property up for sale. It lists in-person and online auctions, primarily for foreclosed, distressed, and bank-owned homes.

For sellers, RealtyBid provides a fast way to sell a house, usually for cash. For buyers, it’s a marketplace where they can find potential deals on properties that can be renovated for resale or for rent.

However, RealtyBid poses risks for buyers and sellers. Buyers need to do extra due diligence because properties can come with expensive issues, such as liens and property damage. Sellers are still obligated to use a realtor to list and will likely get much less for their homes than they would on the open market.

Sellers should compare alternative services before using an online auction site like RealtyBid. A low commission real estate company can help you sell for more without the high realtor fees, while a service like Clever Offers allows you to compare multiple cash offers so you increase your chances of a fair deal.

RealtyBid at a glance

RealtyBid pros and cons

✅ Pros of RealtyBid

• Homes sell quickly
• Buyers can find bargain-priced properties
• AI-generated property reports
• Both live and online auction listings

For sellers, RealtyBid.com can help you sell a home very quickly as long as it’s competitively priced. Because bids are timed, there’s often an incentive for buyers to place a bid before the clock runs out. You can also sell distressed properties, including homes in poor condition.

For experienced investors, there are opportunities to find bargain-priced homes through a RealtyBid online auction. The website lists both in-person and online auctions, which increases your chances of finding a property that suits your goals.

While there are risks to bidding for homes online, RealtyBid somewhat reduces that risk through its AI-generated reports, which are available for many properties. These reports provide useful information about the property, such as its estimated renovation costs, how its value has changed over time relative to the market, and a list of comps.

❌ Cons of RealtyBid

• Homes sell for less than market value
• Some homes may come with liens and unpaid taxes
• Inspection may not be possible before purchase
• Financed offers are not always accepted

For sellers, the biggest con of using RealtyBid is that you likely won't sell your home for close to market value. Most buyers on real estate auction sites are investors looking for cheap homes they can flip. Most investors won't pay market price since it would cut their potential profits.

For buyers, RealtyBid can be risky, especially if you’re new to real estate investing. Some properties, especially those listed as CWCOT (Claims Without Conveyance of Title), may include liens and unpaid property taxes. If you’re successful in bidding on a home, these liens and taxes could become your responsibility.

Also, you may not be able to inspect the property before bidding on it, especially if it’s still owner- or tenant-occupied. While many of the properties listed include disclosure documents, these don’t guarantee the general condition of the home. So your renovation bill could be much higher than anticipated.

Finally, most sellers on RealtyBid expect you to have cash on hand when you purchase the home. While some sellers accept financed offers, the need for cash upfront makes getting a mortgage difficult, if not impossible, for most buyers on the site.

Top RealtyBid alternatives

RealtyBid competitors include other real estate auction sites like Auction.com, 'we buy houses' companies, iBuyers, and offer marketplaces.

‘We buy houses’ companies range from nationwide franchises like We Buy Ugly Houses to local house flippers. Like buyers on auction sites, these companies buy properties in almost any condition and can often close in as little as 1–2 weeks.

iBuyers like Opendoor pay closer to market value than traditional real estate investors. But they also have narrower purchase criteria, extra program fees, and limited availability.

Cash offer networks like Clever Offers help you source cash offers from multiple buyers, which could lead to a more competitive sale price and better terms.

Here are some more details on the top alternatives to RealtyBid.

RealtyBid vs. a realtor

RealtyBid can help you sell faster than if you listed your house on the open market with a real estate agent. But that’s the only real advantage it has over selling with a realtor.

You’ll almost always make more money by selling with a realtor instead of through an online auction, even if you’re selling a home as is. A realtor will perform a comparative market analysis (CMA) before listing your home, which will help you sell for a fair price. Many realtors also have connections with buyer agents in their area and can offer strategies for selling quickly if that’s your priority.

Also keep in mind that only licensed real estate agents are allowed to list properties for a RealtyBid online auction. So to sell your house on RealtyBid, you still need a realtor and you still have to pay realtor fees (which are taken out of the proceeds of the sale).

You can actually save money on realtor fees by working with a real estate agent who charges less than the average real estate agent commission (e.g., 1.5% instead of the traditional 2.5–3%). If you’re not too pressed for time, your realtor can recommend repairs to improve the resale value of your home and suggest other strategies to help you get fair market value when you sell traditionally.

RealtyBid reviews: What customers say

We found very few RealtyBid reviews online. The reviews are mostly many years old and tend to be negative. We recommend deciding whether or not to use RealtyBid based on other factors instead of its online review score.

Here's a closer look at some RealtyBid reviews.

✅ One customer mentioned good customer service

One positive RealtyBid review simply said:

"Great customer service…"

— Wendy U., 2019, Google

This review doesn't go into detail about what was great about the service, and it's six years old. While we wouldn’t make too much out of this review, it is encouraging that at least one person was satisfied with the service they received.

❌ One reviewer complained about an inaccurate listing

The one recent RealtyBid review we found is a negative one. This reviewer complained:

"I am a real estate agent in Minnesota. 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

The accusations in this review are serious, and for buyers on RealtyBid, the most worrying claim is that listings may not be legitimate. One review doesn't indicate a pattern, but it can serve as a reminder for buyers to do extra due diligence before purchasing homes on an auction site.

How RealtyBid works

RealtyBid is an online marketplace where sellers can put their properties up for auction and buyers can bid on those properties. It lists online and in-person auctions.

Selling with RealtyBid

Properties listed on RealtyBid can only be posted by real estate agents with active licenses. Here’s the process an agent will follow to sell your house through an online auction:

1. Specficy auction details: Details include the length of the auction, the start date, whether you’ll accept financed offers or only cash offers, the reserve price (i.e., the minimum price you’ll accept), and any fees.
2. Give property and listing information: Include a description of the property, any contingencies, and upload photos and documents, such as disclosure forms. You’ll also need to specify whether the property is occupied.
3. Review bids: While the auction is live, you can review bids. If a bidder meets the reserve price, you can accept the offer, although you’re not obligated to do so.
4. Negotiate during the post-bidding period: If the house doesn’t sell during the auction period, you can choose to still make it available to buyers during the post-bidding period. This period can last up to seven days, during which you’re free to negotiate with buyers. Again, you’re not obligated to accept any offer, even if it exceeds the reserve price.
5. Go under contract: If you accept an offer, you’ll negotiate the details of the purchase via your realtor. Closing costs and listing fees will be deducted from the proceeds of the sale at closing.

Buying with RealtyBid

The bidding process varies a bit depending on what kind of property you’re considering. In general, you’ll take the following steps:

1. Register: Create a profile and pay a $250 deposit before bidding.
2. Search for properties: Use the online search feature to find both live and online auctions. All auctions are classified as REO, CWCOT, Live Foreclosure, or County Online Foreclosure.
3. Bid on properties: Click the Bid Now button to place your bid. Only REO and CWCOT properties can be bid on via RealtyBid’s website. The listing usually states whether another bidder has met the reserve price, although it doesn't say what that reserve price is.
4. See if you're offer was accepted: If your bid was accepted, you'll be notified via email. The seller isn’t obligated to accept your bid, but the highest bid that reaches the reserve price is typically accepted. If your bid wasn’t accepted, your $250 deposit will be refunded.
5. Close: Negotiate the contract with the listing agent and proceed to closing. While financing is sometimes accepted, you should have enough cash on hand to cover the purchase price plus fees.

When bidding on properties on RealtyBid, it’s important to understand the differences between the various listing types:

• REO (Real Estate Owned): These are bank-owned properties that have been foreclosed on. You can bid for these online, and they generally have clear titles.
• CWCOT (Claims Without Conveyance of Title): These are HUD-backed properties that can be bid for online. However, they can be risky investments since they may have liens or unpaid taxes and have no inspection or appraisal contingencies.
• Live Foreclosures: These are in-person auctions, so you won’t be able to bid for them on RealtyBid. However, you can find the date and address of these auctions on the website.
• County Online Foreclosure: These are auctions that you can bid for on the county’s website, not on RealtyBid.com. However, RealtyBid will include a link to the county website.

While RealtyBid provides AI-generated property insights for some listings, you should always do your own due diligence. Homes, especially CWCOT listings, may not have a clear title and could be owner- or tenant-occupied, so they might be impossible to inspect before purchase.

RealtyBid fees and other costs

Fees vary depending on the individual listing. Some listings include a transaction fee for buyers. Many online REO listings stipulate a 5% or $2,500 minimum transaction fee. However, other listings, including CWCOT listings, don’t have a transaction fee.

A bid deposit of $250 is required to bid online. If your bid wins but you fail to follow through with the purchase, you'll lose this deposit.

Is RealtyBid a legit company?

Yes, RealtyBid is a legit company. It was founded in 2001 in Rainbow City, Alabama, and by 2014, the company helped sell over 100,000 properties.[1] RealtyBid was founded by real estate auction veteran Tony Isbell and other investors as one of the earliest real estate auction websites.

Since 2019, the company has been a subsidiary of Covius, a business that provides tech services to financial and real estate companies. Covius was named a 2025 HousingWire Tech100 winner.[2]

RealtyBid primarily makes money through buyer transaction fees.

What kinds of properties are eligible?

Technically, any home can be sold on RealtyBid as long as the sale is represented by a real estate agent with an active license. However, in practice, most of the homes listed are foreclosed or bank-owned properties.

RealtyBid locations

RealtyBid is available nationwide. However, some states may have few or no listings. For example, on April 24, 2025, Alaska, Hawaii, Idaho, and South Dakota had zero listings.

Bottom line: Is RealtyBid right for you?

RealtyBid may be right for sellers who need to sell a house fast and real estate investors who are looking for cheap properties.

However, there are risks to using RealtyBid for both buyers and sellers.

RealtyBid may be fine if you’re an experienced investor, but novice investors need to be extra careful. Some properties have liens and unpaid taxes. Others are tenant- or owner-occupied and inaccessible before purchase. You may be buying with only a limited idea of the condition of the house, so you’ll need to prepare for potentially high renovation costs.

If you're a seller, you're unlikely to get a good price for your home on RealtyBid, since the platform mostly appeals to investors looking for bargain properties. Plus, you’ll still need a real estate agent to list on RealtyBid, so you’ll likely have to pay for realtor fees on top of selling for a low price.

Fortunately, you have better options when it comes to selling your home:

• If you want to sell your home as is at a higher price than you'd get from an investor, you might consider an iBuyer. While most iBuyers have fees and only buy homes in good condition, they often offer more money than cash investors.
• If you want to make the most on your home sale, working with a realtor who offers low commission rates is the way to go. Many discount brokers provide full service at a fraction of the cost and can work on your timeline. They can also help you sell your home as is, so you aren’t obligated to make any repairs.
• If you want speed and certainty, getting competing offers from multiple cash home buyers is the best way to ensure you get a good deal. Free services like Clever Offers help you find the best offers from vetted cash buyers in your area.

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About our reviews

Our company reviews are powered by hundreds of hours of research. To evaluate and rank cash home-buying companies, we analyze thousands of customer reviews, secret-shop each company, and look at publicly available data for indicators of offer quality, customer service, fees vs. value provided, trustworthiness, and more. Whenever possible, we also talk to customers, company reps, and industry professionals (such as real estate agents) who have direct experience working with the brand.