No, the listing does not automatically go to the highest bidder.
After the bidding period for a property ends, home sellers compare their offers and choose the real estate agent that best fits their needs. We encourage home sellers to consider all factors when reviewing bids, including:
💰 Highest bid: cash paid upfront after signing a listing agreement
% Commission: the percentage of the home's purchase price paid to the real estate agent
🗓 Term: the contract length, aka the duration that the agent will represent the property
📖 Bid description: the agent's prior experience and marketing plan for the property