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Old-Fashioned Real Estate Benefits Nobody

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In a way, it’s quite impressive the way that the real estate industry has developed into a model of dysfunction, incongruity, and frustration. Call it the ‘trifecta of uselessness’ if you like. We’re not joking. A person would have to think long and hard to come up with a design that is as biased against all parties as the real estate business is against both buyer and seller.

That’s the way it looks from where we’re sitting. Think about it a moment from the seller’s side, which is perhaps the most obvious one to commiserate with. In the first place, the seller is going to have to sign a one-sided listing agreement that locks him into using that agent and only that agent for anywhere from six to twelve months. During the life of that contract, he has absolutely no guarantee that the agent is going to expend any effort at all in finding a...

Should You Trust the House Auction Process?

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When a new way of doing business appears on the scene, people tend to be (rightly so) a little bit suspicious about the whole thing. As a species, we cling tightly to the familiar until the unfamiliar proves itself, and real estate is no different. For eons, it seems like, folks who want to sell their houses have gone about it in generally the same way: find an agent, sign a listing agreement, then get the heck out of the way and wait for about a year for something to happen.

In the old fashioned real estate process, all the power lies with the agent.

The Open Door Auctions house auction process changes all that. Of course, we’re not the first business to hold a house auction but we are the only one to create an entire new industry model around it. But first things first. Why should you trust us in the first place? Actually, there’s one very big reason and his...

For Sale By Owner – The Worst Idea You’ve Ever Had?

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The temptation to go the ‘for sale by owner’ route to sell your house without the help of a real estate agent is not without merit. They do take a hefty little slice of the pie (likely from 3% to 6%) in return for varying levels of effort and competence. Of course, the old fashioned real estate industry will do their dead level best to scare you into employing their services, though we’re not here to say that every agent is something akin to the Lapdog of Satan. There are many fine people out there trying to do the best for their client, and make a little money for themselves in the process.
The problem is they’re working with broken, outdated information and equipment. How many people kept using a horse and buggy setup for transportation after Henry Ford unleashed the assembly line concept on the automobile industry? Not too many. Who still uses smoke signals...

Real Estate Agents – Work Less, Earn More

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The unusual aspect of the Open Door Auctions selling process is that it’s good for sellers, buyers, and real estate agents who aren’t afraid to diverge from the old fashioned way of doing business. At times, it seems like the traditional approach to selling real estate results in the three sides of the equation working at odds against one another, and no one leaving the table completely satisfied. We’ve recently discussed the Open Door Auctions advantage when it comes to sellers. Today the focus shifts to real estate agents.

The truth is that selling anything is a tough way to make a living. The high dollar nature of property sales often causes tension and emotion to flare on the part of seller and agent, which is understandable. A house is normally the most expensive thing a person will buy (or sell)...