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ODA 10 – Finding the Market Price Takes Your Old-Fashioned Agent Too Long

ODA 10 - Finding the Market Price Takes Your Old-Fashioned Agent Too Long
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The between Open Door Auctions and your old-fashioned real estate agent is the process by which we arrive at a property’s value. Chances are the numbers themselves will be quite similar. The problem lies in the dysfunctional-by-design traditional real estate industry. Even a decent agent, and there are a few, cannot escape that albatross around the neck. We figured out a perfect way to find a listing price that never fails – ask the seller and do what he says. As a buyer, you’re thinking,Sheath...

ODA 9 – Why RE Agents Like Open Auctions

ODA 9 - Why RE Agents Like Open Auctions
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The old-fashioned real estate industry is genetically flawed. It pits agent against seller in a paranoid alliance guaranteed to make both sides feel like they got a raw deal. Is this any way to run a business? At Open Door Auctions, we think not. We’ve dedicated a fair amount of recent energy to educating sellers on the benefits of our two-week sales process. The funny part is that your real estate agent, if she’s honest with herself, should prefer our method also. Think of the deal from her point of view. Of course she wants to sell your house and earn a commission, but...

ODA 8 – Multiple Bids

ODA 8 - Multiple Bids
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We’ve spoken at some length about the inherent inefficiency in the old- fashioned real estate industry, even going so far as to call it dysfunctional (which is not too far a stretch, in our humble opinion). Once your house is listed, it might go weeks, even months, between receiving a serious buying offer and, as much as your agent might try to pretend otherwise, it’s a rare occasion to have two buyers in a bidding war for the property. Sure it happens – usually about as often as Halley’s Comet swings past our planet for another visit. While you may have visions of multiple bids dancing...

ODA 5 – Home Auctions Not Just for Distressed Properties

ODA 5 - Home Auctions Not Just for Distressed Properties
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If you think house auctions are only for the distressed, think again. And if the regular output of product from names like high-end auctioneers Sotheby’s and Christie’s doesn’t convince you, consider that historical auctions have been documented from as early as 500 B.C. (long before Mr. Obama and the foreclosure crisis appeared on the world scene). Perhaps the biggest auction in history occurred in 193 A.D. when the Praetorian Guard, personal bodyguards to the emperor, put the entire Roman Empire up for sale. Cheeky. Very cheeky. While Open Door Auctions...

Why Speed Counts When Selling Your Inventory

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