HOW DOES LETSBIDLOCAL WORK?
The Key Features
We have created a "Tiered Reputation System" for both buyers and sellers based on performance metrics, transactions participated in, and community points for vetting, assisting, and promoting within LetsBidLocal.
We provide a guided process to schedule a meetup at multiple "Safe Spots" located within communities, verified by local Law Enforcement or sponsored by a local business.
While we offer a freemium model for limited quantities of listings, we also offer subscription based listings for high volume listing users. Tiered paid model at extremely reasonable prices.
Your Own Marketplace
Registered sellers, both independant and locally certified, will gain access to our guided Brand Creator. Sellers can define their brand by creating their own online store featuring their products.
We are aiming to make the buying and selling experience faster, and easier, while providing more information than typically available to users. Mediation for unsuccessful transactions will occur within our AI client on the mobile and web application, and can also keep track of your listings, and bids.
Let’s Bid Local platform will mediate transactions by holding funds in escrow and allowing the blockchain technology to create and approve smart contracts for exchanging XBID. Both buyer and seller are given opportunities to decline or confirm a transaction at multiple times throughout the process.
The LetsBidLocal platform allows a Seller to create two types of listings, a Buy Now option and an auction listing with a reserve minimum. Buyers can then bid increasing amounts to try to win the merchandise with the possibility of having a bidding war, increasing profitability for the Seller.