Catherine Bonn, Tyler Crimm, Alexander Embiricos, Tom McLaughlin, and Joey Zwicker

Concept An auction web service optimized for the commercial real estate market through a new method of bidding, resulting in increased efficiency and satisfaction for all parties involved.

The TopPrice Clock Auction User Perspective Phase 1: Open Bidding Several days Anyone can bid Phase 2: Determine Price Price increases linearly over time Bidders drop out until only one bidder remains Bidders may adjust bids Bidders can see how many others are currently interested Time Price 3:00 Auction Start 4:304:003:305:00 Auction End Start Price End Price Phase 1 Buyer 1 Buyer 2 Buyer 3 Buyer 4 Phase 2

Customers Commercial Real Estate Agents More bids Multiple Identical properties Generally higher value Less Contingencies Value Proposition – Higher Average Final Selling Price Higher Commission More Satisfied Customers – Shorter Selling Period

Market Sizing Total Market – Total US Market= $330B – Commercial Real Estate Market= $57B – Total Realtors in US = 1.5M Initially focus on high-demand Commercial Properties Example Focus Markets – New York City- $2.25B Commercial market. 27,000 agents competing for 10,000 transactions per year  very competitive – Palo Alto- average of 10 bids /property (Interviews)

Market Strategy Launch Strategy – Contact realtors individually (proof of concept and initial traction) – Customer Validation and Development Market Penetration – Offer Joint subscription to franchises (RE/Max, Prudential, etc) – Stats RE/Max- 100,000 agents nationwide. Over $1B spent on advertising yearly “RE/Max offers proprietary technology solutions to all associate realtors” -RE/Max NY

Business Model Subscription Based Revenue Model We plan to charge $100/ month – Cost of current Web Services = $200-$300 / month – Case Example Revenue Estimates – If we can get 1000 realtors to use our service, that translates to $1M in annual revenue

Competition Other real estate auction websites TracAuctions WilliamsAuctions Advantages of TopPrice Offer Value to Realtors Innovative Auction Mechanism License Intellectual Property