Thursday, April 26, 2007

Hungy agent?

Anyone used Hungryagents.com? Agents? They report having some 350 agents signed up in the Chicago area. It's a bidding site to try and get the best priced real estate agent.

5 Comments:

At 9:41 AM, Blogger sara said...

How cheezy. Like any truly professional and good agent is going to advertise here.
I would imagine the only real estate professional that could benefit is someone just getting started and needing business.

 
At 1:57 PM, Blogger Peter said...

What's cheesy about the "bidding" model? I mean it's hard to argue with the success of an eBay, Lending Tree, ect.

 
At 11:20 PM, Blogger Eric Rojas said...

How about we do the same with attorneys? I'll give my closing to the lowest bidding attorney and they only get paid their $200 if the deal closes. Sounds like a great way to start an important business relationship?

Is this a joke? What is the lowest bidder's motivation? What's the motivation to be a hard working expert if you put up with this cheap crap? It's like choosing the agent who suggests the highest list price for your home (I have lost three listings to agents who go on for what the homeowner wanted too, only to sell WAY less than my price months and months later).

You can find a success story or two for any kind of model... for instance, some folks have stuck a sign in their yard and sold their place in a day (without problems in the negotiation or closing etc...). There are others who have lost thousands due to legal errors and lost buyers with the "ol sign in the yard marketing".

The site’s existence is not an issue with me. I'm all for cosumer choice. It’s just not a healthy way to start a business relationship in my opinion and I would not consider signing up.

 
At 8:26 AM, Blogger Peter said...

Is it just price we look at on these bidder sites though? Your eBay "Seller" rating and such is surely part of the "bidding" process there.

 
At 12:15 PM, Blogger Eric Rojas said...

I knew that was the counter argument but decided to conveniently dismiss it.

I have heard about the buy-side model and a friend using it... where you find the place, they help with the transaction, then rebate most of the commission.

However, I have not heard of anyone using this selling side model as of yet.

 

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