Auction based real estate business for listings
Now available across the United States, the company says it is the first to allow agents to bid on listing opportunities from owners who are ready to sell.
NEWPORT BEACH, Calif. — BidMyListing executives say the company’s services are now available nationwide. Founded last year, the company says it is the first to allow agents to bid on listing opportunities from homeowners who are ready to sell.
The process involves owners first creating a property profile which confirms their address, property details, description and target sale price; a list is created automatically.
Then, the owner is put in touch with a real estate agent. This stage involves agents bidding on the right to represent the seller in the sale of their home. Sellers receive bids and select a winner based on cash upfront, length of listing, realtor experience, commission, or a combination of these factors.
Once the listing agreement is signed, the home seller is paid cash up front and the agent begins working on the listing. Company officials note that every year agents spend more than $22 billion and more than 75% of their time searching for ads with a conversion rate of just 2%.
Josh Altman of The Altman Brothers, who helped develop the service, says, “This levels the playing field for agents across the industry and, for the first time, comforts home sellers with an agent who beats for them and who believes in ownership and has skin in the game.
Source: American Mortgage Professional (6/22) Cantu, Tony
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