Overview
Use the Bidding Orders folder in Mercury Network® to review and respond to residential and commercial appraisal bid requests. Depending on the request, you can propose a fee and turn time, accept client-defined terms, add a message or supporting documents, decline the opportunity, and complete required commercial-order certifications.
Residential and commercial bid requests appear in the Bidding Orders folder, but the response requirements differ. Residential bids may use client-defined or vendor-proposed fees and due dates. Commercial bids also require a certification step and may include supporting documents.
How to respond to a residential bid request
New residential bid requests appear in the Bidding Orders folder with a status of Bid Pending. Open the order to review the Order Details, and then select Submit Bid on t
Depending on the information the client entered on the bid request, you'll have a few different options when entering your responses.
If your client did not specify the fee on the bid request, you can enter your requested fee. Otherwise, you'll see the fee which the client determined for this order.
If your client did not specify the due date on the bid request, you can enter your turn time for the bid. The due date is calculated using business days based on the day the client awards the bid order. So, when you enter your turn time, you'll see the due date will be estimated using today as the start date. The actual due date will be calculated when your client awards the bid.
If the client determined the due date for the bid request, it will be shown here.
If your client determined both the fee and the due date, simply mark I accept these terms and am able to bid on this order or I am unable to bid on this opportunity.
In any case, if you don't intend to submit a bid, check I am unable to bid on this opportunity.
Optionally, in the Provide a message to the client field, enter any comments which should accompany the bid for your client to see.
When you've completed your responses, click Submit.
If the client awards the residential bid to you, Mercury Network notifies you according to your notification preferences. The order is accepted automatically and appears in the Accepted folder with a status of In Progress. It then follows the standard appraisal order workflow.
Note: Mercury Network account administrators may see multiple instances of the same bid request when several appraisers on the account receive the opportunity.
How to respond to a commercial bid request
New commercial bidding opportunities appear in the Bidding Orders folder and generate an email notification. Open the order, and then select Submit Bid or Update Bid to enter or revise your response.
When you double-click on a bidding order, you will have a Submit Bid or Update Bid option. Select this option to submit or update a bid.
When you select Submit Bid, you are presented with the Submit bid dialog.
To submit a bid, follow these steps.
Enter a proposed fee and turn time or if you are unable to bid, check the I am unable to bid on this opportunity box.
Review transaction fee information.
You may provide an optional note with your submission.
Upload any desired or requested documents to accompany your bid.
Select the Continue button.
Complete the certification.
Select Submit.
USPAP requires multiple certifications for commercial appraisal orders. In the Certification dialog, review each item and select the applicable certifications before submitting the bid.
Note: If you are unable to certify an item, you can place a check and enter a comment for that item. Based on your comment, you may certify that item.
Related Article: How to Acknowledge an Awarded Bid on Mercury Network®
Outcome
After you submit or update a bid, Mercury Network® records the proposed fee, turn time, message, supporting documents, and any required certifications. The client can review the response and award the order. If you receive a residential award, the order is accepted automatically and moves to In Progress. Commercial awarded bids follow the order-acknowledgement process.