A web-based technique for managing transactions related to real estate that allows transactions to be advertised and to be transparent to sellers and buyers and potential sellers and potential buyers is provided. Selling agents who represent sellers of properties list descriptions of the properties with the property transaction system. Potential buyers can then view the descriptions of the properties. When a potential buyer wants to place an offer on a listed property, the potential buyer submits the offer to a registered buying agent. After the potential buyer submits the offer to the buying agent, the buying agent posts that offer to the selling agent. Once the selling agent has accepted an offer for the property, which may be contingent on not receiving a better offer, the property transaction system then makes details of offer available to other potential buyers so the potential buyers may submit better offers.