Release Notes

New Features

This release introduces several major new features designed to improve compliance, streamline vendor and buyer workflows, and provide greater transparency throughout the auction process.

Vendor Reserve Letter

We're introducing the Vendor Reserve Letter feature, designed to streamline communication between agents and vendors while providing a secure and auditable process for establishing reserve prices.

• ● Reserve Letter Management: Agents can now generate, send, manage, activate, and deactivate reserve letters directly within the platform.
• ● Multi-Vendor Support: Reserve letters support multiple vendors, ensuring all parties can participate in the approval process.
• ● Vendor Bid Visibility Controls: Agents can choose whether the Vendor Bid section is displayed within the reserve letter based on vendor preferences or compliance requirements.
• ● Activity Tracking: A new "View Activities and Details" section provides agents with complete visibility into vendor interactions, document activity, status changes, and signing events.
• ● Reserve Letter History: Agents can access all reserve letters associated with a property, including sent, active, and inactive versions.
• ● Visual Status Indicators: New status icons provide quick visibility of signing progress and reserve letter activity.
• ● Email Delivery: Reserve letters are delivered directly to vendors via email for review and approval.
• ● OTP Verification: Vendors must complete a secure One-Time Password (OTP) verification process before accessing a reserve letter, ensuring confidentiality and compliance.
• ● Multiple Requests Supported: Agents can issue multiple reserve letter requests to the same vendor whenever updates or revisions are required.
• ● Automatic Verification Emails: Newly added vendors automatically receive an email prompting them to securely verify and access the reserve letter.
• ● Power of Attorney Support: When a vendor has an attached Power of Attorney (POA), all reserve letter communications are automatically forwarded to the authorised representative.

Authority to Bid

We're pleased to introduce the new Authority to Bid feature, providing a structured and compliant process for managing bidder authority and approvals.

• ● Flexible Workflow Options: Agencies can select between two Authority to Bid workflows based on their preferred operational requirements.
• ● Upload PDF Workflow: Agencies can upload their own Authority to Bid PDF document for buyers to complete and return during bidder registration.
• ● Electronic Authority Workflow: Buyers can electronically confirm details, upload identification documents, and complete digital signing directly through the platform.
• ● Verification & Security: Authority to Bid participants receive secure email invitations and must complete OTP verification before accessing the document.
• ● Automated Notifications: Both the bidder and the primary selling agent receive notifications whenever Authority to Bid participants grant approval.
• ● Decline Functionality: Buyers can decline Authority to Bid requests where information is incorrect or authority is not being granted.
• ● Agent Override Controls: Agents retain the ability to approve or decline Authority to Bid requests when required.

Buyer Profile Integration for Bidder Registration

We've introduced Buyer Profile integration within the bidder registration process, allowing returning users to register faster and with greater accuracy.

• ● Profile Reuse: Existing Buyer Profiles can now be used during bidder registration, automatically populating relevant personal information.
• ● Faster Registration: Buyers can complete registration in fewer steps, reducing duplication and saving time.
• ● Improved Data Accuracy: Registration information remains consistent across auctions and registrations.
• ● Enhanced User Experience: Repeat buyers can move through the registration process more efficiently when participating in multiple auctions.