2025 Release Notes

Upcoming New Features

Vendor Reserve Letter

We’re introducing the Vendor Reserve Letter feature, designed to streamline communication and improve transparency between agents and vendors.

Key Highlights:

• Agents can now generate and manage reserve letters directly within the platform.
• Vendors receive a clear, structured document to review and set reserve price.
• Multi-vendor support.
• Agents can choose to show or hide the Vendor Bid section, depending on vendor preference or legal requirements.
• A new “View Activities and Details” section has been added for agents, allowing full visibility into vendor interactions, changes, and document statuses.
• Agents can now access a dedicated section to view all reserve letters, including sent, active, and inactive versions.
• All signing events are logged and easily traceable.
• New icons visually indicate the status of each letter and signing activity for quick reference.
• Reserve letters are sent to vendors via email for review and confirmation.
• For security, vendors must complete a One-Time Password (OTP) verification to access the document, ensuring confidentiality and compliance.
• Agents can now send multiple reserve letter requests to the same vendor if revisions or updates are needed.
• Agents have the ability to activate previously inactive reserve letters and deactivate the current reserve letter.
• Automatic Email Verification: Newly added vendors automatically receive an email prompting them to verify the reserve letter via a secure OTP process.
• All Reserve Letter emails will be forwarded to the POA if the vendor has a POA attached.

Authority to Bid

We’re pleased to announce the upcoming Authority to Bid feature, designed to formalise bidding permissions and enhance auction compliance.

Key Highlights:

• Agents will be able to enable one of two authority-to-bid workflows based on their preferred process or client requirements.
• Upload PDF Flow: Upload your own PDF. Bidders will need to download the document, have it completed by the buyers, and upload it during registration.
• Electronically Managed Flow: Use our built-in process. Once the bidder submits their registration form, buyers are notified to confirm the details, upload their ID, and sign electronically.
• Authority to Bid participants will securely confirm their participation via an email containing a verification link.
• OTP verification is required to access the document, ensuring confidentiality and compliance.
• The Bidder and the Primary Agent will receive email notifications whenever Authority to Bid parties grant their authority.
• Buyers will have the option to decline the request if they do not wish to grant authority or if any details are incorrect.
• Agent Override Control: Agents will have the ability to approve or decline Authority to Bid requests.

Buyer Profile for Bidder Registration

We’ve introduced a streamlined registration process for buyers; users with an existing Buyer Profile can now use that same profile to register to bid on a property.

Key Highlights:

• Profile Reuse: No need to re-enter personal details, the system automatically detects existing Buyer Profiles and pre-fills relevant information during registration.
• Faster Registration: Buyers can complete the registration process in fewer steps, saving time and reducing duplicate entries.
• Data Accuracy: Ensures consistent and up-to-date information is used across registrations.
• Seamless Experience: Ideal for repeat buyers or users participating in multiple auctions.