Bidding Wars Over Zoom?
Bidding Wars Over Zoom?
Holly Meyer Lucas, a team leader of Meyer Lucas at Compass in South Florida, came up with an idea for bringing home bidding wars to Zoom to “open the playing field” for sellers and buyers. She believes it could provide more transparency in multiple offer situations if all bidders could meet over video conference to present and discuss.
Meyer Lucas shared her Zoom bidding wars idea recently with FOX-29 WPTV News. But she’s still looking for a seller willing to participate.
After recently hosting a charity event with a live auction, she had the idea of a roundtable Zoom bidding war for selling a home. Each buyer would be with their agent on the video call, along with other interested parties, too, as the agents discuss pricing and options.
“The way I see this is buyers can participate. They can be on the phone, but they’ll be muted,” Meyer Lucas says. “We’ll open it up for questions, where the buyers’ agents can ask the questions like, ‘How old is the roof? Are there impact windows?’ So that we get all the answers out in the open.”
The current market frenzy has Meyer Lucas concerned. Some buyers are subjecting themselves to risky contracts by waiving contingencies just to try to win bidding wars. Other buyers may get outbid for a home they wanted but not know why they lost out.
“We absolutely are going to do this,” Meyer Lucas told WFLX.com. “If it doesn’t work, then it doesn’t work. Whether or not other agents will play ball is a great question. The few that I’ve talked to have said for sure, they will participate. There are going to be some … agents who might push back.”
Source:
©National Association of REALTORS®
Reprinted with permission
admin
For all of your Real Estate needs, place yourself in the competent hands of a career Realtor who is a Philadelphia native and Delaware County resident. Skilled, smart and enthusiastic about his work and his life, Anthony DiDonato has the appealing combination of business sense and people skills gives him an edge in an industry that demands both.
Educated at Drexel University with a dual major in accounting and finance and minors in management and psychology Anthony DiDonato offers over 25 years of experience in the real estate industry. He has been a real estate investor since 1985 and a member of H.A.P.C.O. (Landlord Association). He became a licensed Realtor in 1992 and a member of the Local, Pennsylvania and National Associations of Realtors. Anthony DiDonato is also a member of the Computerized Multiple Listings, (MLS) and Internet Marketing Programs. In 1997 Anthony DiDonato became Century 21 All-Elite, Inc. Corporate Secretary.
Anthony DiDonato believes in taking his profession to the highest level of quality service. He is known for finding that “perfect” property in Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania for his buyers and helping his sellers prepare their properties so they sell quickly and efficiently.
When it comes time to negotiate the terms of a contract, Anthony DiDonato has the knowledge, experience, and professionalism applied to meeting – or exceeding – his clients’ expectations. His service to his clients is second to none. His honesty and integrity have been his claim to fame.
For Superior Real Estate Representation in the Delaware Valley, Philadelphia, Delaware County, Chester County, Montgomery County and surrounding areas in Pennsylvania… call Anthony DiDonato.