A reservation system for performing priority reservations and transactions, such as real estate reservations and transactions. In one embodiment, the reservation system can receive a reservation request from a potential buyer for reserving a next available priority number on an interest list. In some embodiments, the reservation system can create a reservation account and receive deposit funds in the reservation account. In other embodiments, the potential buyer is linked to and provided with a unique PIN. A real-time priority number can be made available upon receiving a real-time priority request, wherein the real-time priority request comprises the PIN.