When Landlords enter a bid amount, BigRoom's algorithm shows a projected rank for the ad according to both rent range and locality. So, for example, a property might be 7th for rent range (the amount of rent charged per week on similar properties) and 34th for its locality (similar properties in that geographical area). Placing a bid can raise the property to the top of the rankings and the system will clearly indicate this according to the bid; the top spot goes to the highest bidder.
This transparent way of advertising and bidding for a rank gives property owners a unique advantage. They are able to see how many views their property has had and where their property features among other similar properties. This enables Landlords to judge whether the amount of rental they propose to charge is appropriate. Adjusting their rent could then, in turn, benefit potential tenants. Landlords can choose to email interested parties directly, safely, and securely, through the system.
As well as adding a more social dimension to the property rental process, BigRooms.net will provide more transparency with regards to advertising, which will influence how others view their post. It will also provide an improved means of communication between those advertising and those searching for property in the U.K. Available for iPhone and Android, BigRooms.net offers a modern approach to property management as more and more people choose to search and rent property using smartphones, laptops, and mobile devices.
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To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/new-property-rental-website-launched-that-uses-bidding-technology-to-boost-an-ads-search-position-300295760.html