SparkOffer's Open Bid Model helps listing agents market homes: Review in Inman
We were thrilled to have Inman do a review on our platform. You can check out what they covered by reading the following excerpt from the full narrative. We hope you find this helpful!
SparkOffer is an open-offer model for buying SparkOffer is an open-offer model for buying
homes, run by the listing agent to help market homes, run by the listing agent to help market
sellers’ homes. sellers’ homes.
Platforms: Browser
Ideal for: All agents, agents working with investors and unique real estate
Top selling points:
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Transparent offer system
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Open competition can push sale price
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Augments traditional selling process
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Good option for unique, non-traditional homes
Top concern: Although there’s nothing wrong with opening offers to public viewing, this is a
model that will be hard for rank-and-file agents to accept.
What you should know: SparkOffer is an open-offer model for buying homes, run by the listing agent to help market sellers’ homes. It can especially benefit agents with unique luxury
listings, investment properties, land, and other real estate that doesn’t earn a lot of attention on the local multiple listing service.
Here’s why.
SparkOffer, similar to Australia’s MarketBuy, is bid-based model for making offers on homes.
Listing agents create stand-alone pages for a seller’s home, complete with images, descriptions and outside links to videos or any other assets common to online marketing.
When ready, the sale goes live, and aspiring owners can start bidding using the online offer submission process. Each username and number gets posted in a timeline until either the reserve price is matched or the sale ends — that’s it.
The seller can ultimately take any of the offers presented, and the winning
buyer will then carry on through the sale in the traditional manner according to
the listing’s state laws. A formal written offer must be submitted two hours after
the sale window closes. From there, it’s business as usual.