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August 25, 2022

KM's King wins prognostication contest

#MAG-HREF#MAG-CREF
#MAG-ENLARGE


The online commercial real estate exchange Ten-X recently concluded what it called the “Battle of the Bids.” Competing brokers tried to guess the final closing prices on ten properties being offered on the global exchange. Some 15,000 brokers vied with their predictions, in eight rounds lasting from April to the end of last month. The contest distributed $3 million in prizes over the rounds, and the overall winner took home $1.2 million, plus a $100,000 bonus for charitable giving. Who won? Local broker Mike King of Kidder Mathews, the firm announced. His bets had an accuracy rate of 92.7%. He gave the bonus money to Big Brother Big Sisters of Puget Sound, and said in a statement, “I've been involved with Big Brothers Big Sisters since 2007. It feels great to be able to double down and donate another $100,000 to a great organization.” Ten-X is part of CoStar. Ten-X president Steve Jacobs said, “Being the first to gamify CRE, CoStar Group set out to showcase both the power of Ten-X and the talent of the brokers that use it.” Based in the Bay Area, Ten-X was launched in 2009 to help liquidate casualties of the Great Recession, and is now the world's largest online commercial real estate exchange.




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