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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...

Welcome to Open Door Auctions!

Welcome to Open Door Auctions!
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Welcome to Open Door Auctions where our innovative system brings the whole market to your door in just two weeks.

Our innovative methodology differs from traditional real estate companies and benefits you in several ways:

Very short listing agreements – usually just two weeks!  The real estate industry has is dysfunctional.  Both the clients and the agents are getting a bad deal.  Why should you sign a listing agreement for...

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...