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The Freeway To Listing Data – Foreclosures, Auctions And Otherwise

Open Access To Data and Buyer/Seller Information

What is mind boggling is that we as an industry have struggled for years trying to figure how to move distressed inventory. Mind boggling because we have consistently hid the data behind cumbersome registration pages and access fees, and charged huge buyer premiums at auctions. To think that these are all strategies designed to move inventory is somewhat hard to believe. Open access rather, should be the path.

To top it all, many consumer portals and sites have made it tough for buyers to connect with listing agents or sellers, by giving preferred placement to their own internal agents next to the listing, if that’s their business model. Others featured and continue to feature alternative agents based on a paid advertising model, in the process keeping the true representing agent who knows the seller and the property best, and can answer questions more swiftly and accurately, at bay and harder to reach.

Such and other practices have either delayed or outright derailed potential transactions, and to this day continue to hinder wider, more efficient buyer participation so the assimilation of inventory may proceed at a more healthy pace.

We’re excited to announce that we have unlocked access to all listings on ListedBy, specifically because giving real estate buyers and sellers immediate and open access to listings and to each others’ contact information is core to ListedBy’s vision for the site and the industry as a whole. We see this as becoming the norm for all real estate property portals and real estate auction companies.

As always, we appreciate our users’ feedback and suggestions. Giving everyone instant access to all listings on ListedBy.com once again is the results of your valued input. Now anyone can research MLS listings across the country, residential and commercial. The same goes for all distressed properties including REO auctions, government real estate auctions, residential real estate auctions, commercial real estate auctions and all other public real estate auctions and Buy Now/Best Offer listings that are active on ListedBy.com.

 

3 comments

  1. Getting buyer directly in touch with seller is good. However, how do we ensure that transaction happens professionally. Realtor agents are there to advise sellers to follow law (e.g. disclose all material defects etc.).

    Also, what is your business model and how do you make enough money to stay in business if you let buyer/seller directly connect with each other. In other words, how does your existence add value to their transaction? And how do you get paid?

    • Hi, Sharad.

      I apologize your response went unattended this long. ListedBy is an advertising revenue based model, which leaves transaction income in the pocket of the agents. The platform is for the early negotiations part of a deal, much like it happens on Craigslist. Except that with the auction technology, REALTORS are ale to manage multiple deals automatically and boost asset value through the cheer expansion of buyer involvement from not just local buyers, but nationally and internationally. Anytime you have more potential buyers, price is likely to be bid higher. Good for the seller and the representing agent.

      Once a general agreement has taken place about price, the REALTORS then move to their usual legal offer paperwork process. The idea is to cut to the chase when it comes to early negotiations, and eliminate phone and email tag that wastes everyone’s time.

      Finally, while sell by owner enthusiasts can list and buy on ListedBy, the majority of users are professionals. Pretty much in proportion to REALTOR vs. sell by owner activity in newspapers and other traditional media.

      Hope this helps.

  2. Serving the real estate needs of San Gabriel Valley and Inland Empire.
    (Los Angeles and San Bernardino Counties)

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