We recently had a Buyer for one of our listings utilize our "Buy Now" feature to avoid being caught in a bidding war. In this particular instance, the Listing Agent listed the home for $285,000 in the MLS. Her CMA came in at $315,000. Our strategy is to list a home in the MLS at roughly 10% below market, and run an online auction of the property approximately 3 weeks after the property is listed. The Seller and their agent can also set a Make Offer range in our system, as well as a "Buy Now" price.
In this particular instance, this non-distressed property had been on the market for 21 days, the buyer viewed the home last Saturday, and utilzed the "Buy Now" feature to make sure he got it. By using the Buy Now feature, the auction was cancelled, and the buyer got exactly what he wanted at a fair price. According to the Buyer's agent, he had looked at many homes, loved this particular home, and didn't want to wait for the auction to start, nor run the risk of getting caught in a bidding war. Both Buyer and Sellers are ecstatic. The home is under contract in 21 days, and both the Listing Agent and Buyer's Agent were thrilled with the ease and simplicity of using our system.
Sometimes just the "threat" of an auction is enough to get a home sold quickly. That is what our site was designed to accomplish. Get every listing sold in under 30 days, and make it easier and more transparent for Buyers, Sellers and their agents. Give us a try. You'll be glad you did.