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 listing opportunities for homeowners who are ready to sell. Owners are matched with top agents in their area who bid for the exclusive listing right and are paid upfront when they select an agent.
The market is a win-win for real estate agents and landlords. Realtors can now use marketing dollars to directly purchase the actual listings instead of just hoping to generate a lead. Homeowners have the assurance of a real estate agent dedicated to their property – who is willing to invest in an exclusive right to list their home.
The National Association of Realtors (NAR) estimates that nearly three in four sellers give their listings to the first agent they meet1. At the same time, agents invest more than $22 billion a year2 and spend over 75% of their time searching for ads with a conversion rate of just 2%3.
“BidMyListing disrupts an incredibly flawed and antiquated system that has led generations of sellers to reward speed over substance when selecting an agent,” said BidMyListing Founder and President Matt Proman. “Selling a home is one of the most important financial transactions most Americans will face. Our marketplace enables better decision-making and facilitates the best possible match between sellers and agents, while financially benefiting the seller.
Founded in 2021, BidMyListing has started development and has smoothly launched to test the market. They assemble a “dream team” of some of the most successful innovators in real estate, technology and venture capital funding. The leaders of this team are real estate moguls Josh and Matt Altman of The Altman Brothers. Josh Altman consistently ranks in the top 1% of all agents nationally. In 2021, Josh sold over $1.46 billion in trades. He and his brother are also known for their longtime roles on Bravo TV’s Million Dollar Listing Los Angeles.
“BidMyListing is the first company I’ve seen that really helps both owner and agent. It levels the playing field for agents across the industry and, for the first time, comforts sellers at home with an agent who fights for them, who believes in property and has his skin in the game,” Josh Altman said. “My first year as a real estate agent, I was lost; I sold I would have done anything to have something like BidMyListing where I knew exactly how much it would cost to get a listing rather than throwing money against the wall and hoping that one of the many advertising media worked. Your money is as good as any industry veteran at BidMyListing. You get in front of real sellers you wouldn’t normally have the chance to meet. At the same time, we educate sellers on who is the best choice to sell their most g ros investment in their lives. Real estate agents put money in the pockets of owners! It’s a win-win.
For owners, the process is simple:
Step 1: Create a property profile. Enter an address and BidMyListing’s smart technology will automatically create the listing. Home sellers confirm the address, property details, provide a description and set a target selling price.
Step 2: Match smartly with the best real estate agents. Real estate agents are alerted when there is an ad that is in their market. Agents bid on the right to represent the seller in the sale of their home. Sellers receive bids and choose a winner based on upfront money, length of listing, realtor experience, commission, or a combination of all.
Step 3: Once the listing agreement is signed, the seller is paid cash up front and the agent gets to work on the listing they have invested in.
In addition to the Altman Brothers team, BidMyListing was built with advice and guidance from many top 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) and brings his digital and omnichannel expertise spanning consumer technology products and teams, as former chief marketing officer of Vesta and senior vice president of marketing at Vylla. Shelly Cofini, Director of Acquisitions, brings over two decades of high-level management and business development expertise to champion go-to-market strategies, ranging from technology to channel partner development.
The company is being funded by 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 fundraising round, to be announced in the summer of 2022.
Owners and agents 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 the best real estate agents with ready-to-sell buyers and takes the guesswork out of the home selling process. Founded in 2021, BidMyListing is backed by a team of experts, venture capital partners and stands ready to help you make better real estate decisions. For more information visit, www.bidmylisting.com.
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