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Why Sellers Love a Real Estate Auction

Why Sellers Love a Real Estate Auction
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Open Door Auctions is in the business of proving to the world why our auction process is great for sellers and buyers. Today we want to focus on the selling side of the equation. Let’s say you have a property for sale. More than a century of history and indoctrination suggests you should run down to your local traditional real estate agent and ask him to list your house on the Multiple Listing Service (MLS). While this might not be the worst idea in the world, we would like to suggest that you can sell your...

The Multiple Listing Service (MLS) is the Seller’s Frenemy

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The multiple listing service (MLS) has been with us so long we can’t even remember when it started. Actually, after a quick peek at Wikipedia (which is always right and never wrong – snicker), we discovered that some version of the MLS has existed within the old-fashioned real estate industry for more than 100 years. Watching this balky, cranky, recalcitrant piece of foolishness in traditional action makes it seem out-of-date by a good number of those years.

Open Door Auctions founder, Jason Hartman, has always said that the MLS is the “stock exchange for real estate.” That’s a good thing, right? Every industry needs a centralized location for buyers and sellers to congregate and decide on a price? It would be nice if the reality were so rosy. Unfortunately, the MLS has proven itself over time to be terribly inefficient at the process of true market...