Marketplace launches nationwide for home sellers and real estate agents
Newport Beach, CA –News Direct– BidMyListing
BidMyListing, a new real estate marketplace, launched nationwide. For the first time, real estate agents can bid on listings from homeowners who are ready to sell. Homeowners are matched with top realtors in their area who bid for exclusive listing rights and get paid upfront when they select a realtor.
The marketplace is a win-win for real estate agents and homeowners. Real estate agents can now use marketing dollars to buy actual listings directly, rather than simply hoping to generate a lead. Homeowners have the assurance of a dedicated real estate agent for their property – willing to invest in an exclusive right to list their home.
The National Association of Realtors (NAR) estimates that nearly three out of four salespeople refer their listings to the first agent they meet1. At the same time, agents invest more than $22 billion annually2 and spend more than 75 percent of their time searching for listings with a conversion rate of just 2 percent3.
“BidMyListing disrupts an incredibly flawed and antiquated system that has caused generations of sellers to reward speed over substance when choosing an agent,” said Matt Proman, founder and chairman of BidMyListing. “Selling a home is one of the most consequential financial transactions most Americans will ever face. Our marketplace enables better decision-making and facilitates the best possible match between sellers and agents, while also benefiting the seller financially.”
Founded in 2021, BidMyListing started development and rolled out gently to test the marketplace. They assemble a “Dream Team” of some of the most successful innovators in real estate, technology and venture finance. First up on this team are real estate moguls Josh and Matt Altman of The Altman Brothers. Josh Altman consistently ranks in the top 1 percent of all agents nationally. In 2021, Josh sold over $1.46 billion worth of transactions. He and his brother are also known for their long-running roles on Bravo TV’s Million Dollar Listing Los Angeles.
“BidMyListing is the first company I’ve seen that really helps both the homeowner and the agent. It levels the playing field for agents across the industry and brings home sellers some comfort for the first time in having an agent fighting for them who believes in the property and has a role in the game,” said Josh Altman. “In my freshman year as a realtor I was lost; I sold a house! I would have done anything to have something like BidMyListing where I knew exactly how much it would cost to get a listing instead of throwing money against the wall and hoping Make sure one of the many ads is working. Your money is as good as any industry veteran at BidMyListing. You get in front of real sellers you wouldn’t normally have a chance to meet. At the same time, we educate sellers on who the best choices are to make their biggest investment in their lives. Realtors put money in the pockets of homeowners upfront! It’s a win-win.”
For homeowners, the process is simple:
Step 1: Create a property profile. Enter an address and BidMyListing’s intelligent technology automatically creates the listing. Home sellers confirm the address, property details, provide a description, and set a target sale price.
Step 2: Get matched with top real estate agents. Real estate agents are notified when there is a listing in their market. Realtors are bidding for the right to represent the seller in the sale of their home. Sellers are presented with bids and choose a winner based on upfront payment, listing length, real estate agent experience, commission, or a combination of all.
Step 3: Once the listing contract is signed, the home seller receives a cash payment up front and the agent can work on the listing they have invested in.
Alongside the team at The Altman Brothers, BidMyListing was developed with the advice and guidance of many leading thought leaders in technology and real estate. BidMyListing’s Chief Technology Officer (CTO) is John Nicholas, former CTO of Carrington Retail Group and SVP of Product at Auction.com/Ten-X. Ryan Dranginis serves as Chief Marketing Officer (CMO), bringing his digital and omni-channel expertise to consumer technology products and teams, where he served as the previous CMO for Vesta and Senior Vice President of Marketing at Vylla. Shelly Cofini, Director of Acquisitions, brings more than two decades of executive-level and business development experience to champion go-to-market strategies ranging from technology to channel partner development.
The company is funded with a $5 million seed investment from DP Dakota Ventures, part of Deer Park Road Venture Capital, which closed in April 2022. The company is planning another fundraiser to be announced in the summer of 2022.
Both homeowners and brokers can join the platform for free by visiting bidmylisting.com.
1, 3 National Association of REALTORS®
2 Research firm Borrell Associates
BidMyListing turns real estate listings into assets. Our platform connects top real estate agents with ready-to-sell home buyers, taking the guesswork out of the home selling process. Founded in 2021, BidMyListing is backed by a team of experts, venture partners and stands ready to help you make better real estate decisions. For more information visit, www.bidmylisting.com.
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