Reply.com, a company that offers lead-generation tools and services for real estate professionals, has launched an auction platform for establishing lead pricing that also allows users to select the type, quality, quantity and location of leads.

Founded in 2001, San Ramon, Calif.-based Reply also provides leads for the mortgage, insurance and automotive industries.

Payam Zamani, Reply.com CEO and co-founder of Autoweb.com, said that the new lead system allows the market to set lead value. While some lead services require lengthy contracts, the new Reply platform allows users to determine their total commitment.

Real estate professionals can decide how many leads they wish to receive for a week or a month, for example, and the total amount they wish to spend.

Leads can be selected for a given ZIP code area, within a radius of a ZIP code, or by city, county or state. Also, leads can be delivered on an exclusive basis or on a non-exclusive basis -- non-exclusive leads can be awarded to up to four subscribers.