I know what you're thinking... "Yeah right, another BS claim about how I can become a gazillionaire selling real estate." You're right, you won't become a gazillionaire selling real estate, because gazillion isn't a real number. You CAN however, force multiple offers on every type of listing except for one. BidOnRealty.com offers Realtors® a three-pronged online price negotiation platform highlighted by an online auction system that the Realtor® controls, including start/stop time, minimum bid and reserve price. You can use the system for Non-Distressed, Short Sale and REO listings. We also just added a commercial category as well as a category for manufactured homes not titled as real estate.
So, how do I get multiple offers on all my listings? It's really quite simple. List the property in the MLS at 10% or more below market value. Make comments in the public remarks area that you will be holding an online auction for the property starting 3 weeks (It's customizable by you) from the list date. The super attractive list price, coupled with the two "Auction Preview"open houses that we recommend you hold, will generate a ton of interest and activity. Buyers can make offers on the home via our paperless Make Offer feature before the auction begins if they like. Or, they can purchase without bidding at all at a price determined by you and the Seller via our Buy Now feature.
But won't an auction result in the house selling for "auction price"? If you mean fair market value, then yes. For example: Let's say your CMA came in at $200,000. In the "old world" you may have listed the home at $215,000, knowing that everybody is going to offer less than the asking price (I know it's a generalization, but for the most part, true). And maybe after 2 -3 months on the market you'd get an acceptable offer of say, $198,000. With our system, you would list the house at say, $175,000 and have a starting bid of $160,000 and a reserve price of $198,000 (or whatever you and the Seller agree to). And guess what happens? All that interest will generate multiple bidders (offers) and I'll just bet you that the winning bid will be at that same $198,000 or so. The difference is, you sold the house in less than 30 days, and you've given the interested buyers a transparent platform to make their offers on so they know how much they must pay to get the house. Voila!
Oh yes, the one type of listing that our system won't work on? That's the seller that insists on putting his $200,000 house on the market for $240,000 "Just to see what happens" because he "really doesn't need to sell." I'd drop that one like a hot rock anyway.
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