Try this link:
Raleigh-based real estate firm partnering with tech platform to create online, real-time sales :: WRAL.com
Since I got licensed in 2005, we have always seen The Next Bright Shiny Thing come up on a routine basis.
Some stick. Some don't.
Eh. If buyers want to engage, they can. This is the firm that pimped Zillow flips. Let's see if this is executed as a higher-principled scheme.
We'll know when multiple transactions are closed on the platform.
No where does the story indicate how they handle involvement by a buyers agent.
Nice for listing agent if they can rake in all commissions and the unrepresented buyer is putty in their hands.
In NC, it is not legal to share price or terms of another buyer's offer. I expect there is a pretty broad waiver a buyer has to acknowledge to engage on the platform.
"For buyers, you know the offer details upfront. You know what the sellers asking," said Huddleston. "You can see bids up there. The buyers.""
Ever see Auction Fever?
"It's just another $2500..."
I had a client go nuts on a foreclosure auction several years ago. I busted my butt and got him a better price, but he acknowledged he had offered far over his comfort level.
And, these buyers are providing their preapprovals to the listing firm. What amount? 100% of what a lender says they can borrow? If so, that is a mammoth error for any homebuyer.
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