• Are we actually selling this property on eBay?   
• How come the price looks so low?
• What IS all this information on this listing?

I’m about to answer these questions and more, so just keep watching the video! 

Are we really selling this property on eBay?? 

We’re not actually selling this property on eBay. That happens at a Title company weeks after the listing ends.  What we are doing is using the eBay marketplace, and its online competitive bidding system, to establish a high bidder, and a purchase price.  When the bidding ends, the whole process is taken offline, and from that point, it’s just like any other real estate transaction, with a contract and lots of other paperwork, a mortgage, attorneys, and ultimately a closing at a title company.

How come the price looks so low? 

     We start all of our listings at 99 cents.  By the time the listing ends, we know that whatever the high bid ends up to be, it will be the fair market value of this property.
Think about it this way.  Suppose you had a $100 bill you wanted to sell, and you took it into a crowded bar and announced that you’d sell it in the next 5 minutes to whoever offered you 50 bucks for it, or their best offer. 
      Someone would ask you if you’d really take 50 bucks for a 100 dollar bill.  You would say yes, if it’s the best offer I get, I’ll take it.  So they offer you 50 dollars.  The person next to them says “Hey wait a minute, I’ll give you 55.”  Very quickly, the bidding would go up to somewhere between 95 and 100 dollars, because 100 dollars is what that 100-dollar bill is worth, and anything just below that would be a good deal.  Anything FAR below that would be a steal, and nobody’s going to let someone else walk away with a $100 bill for a steal. 
      The same thing applies to homes.  The buying public, collectively, knows what any given piece of property is worth.  With thousands of people looking at this listing, we know that whatever the high bid ends up to be, it will be the fair market value of this property.  And that’s the price the Seller will take.  Each buyer wants to be the owner at the lowest possible price. And with thousands of people determining what the “lowest possible price” is, we know it’s going to be a fair price – for the Seller and for the buyer.

What’s all this information on this listing?

You’ve never seen so much helpful information on any real estate listing before! 
      There are photos and videos that make the property look great.  And, there’s a link to photos that show you any blemishes or flaws that you would see if you were inspecting this property in person. 
      There’s a link called Home Details –with room by room square footage, the make and model of all the appliances, even what the roof’s made out of! 
Next, you’ll find a whole section of articles and other news items –about housing trends in the area, census data, and whatever else interesting you might want to know! 
      You probably want to know what this house is actually worth – so we tell you! There are realtor comps of closed properties, telling you just what other people have recently paid for properties just like this one.  Ther’es also a link to realtor.com that takes you directly to active listings just like this one, in the MLS. 
      And finally, there is a section at the bottom called Legal Documents.  But don’t worry, your attorney’s the only one who needs to read THOSE. 
If you have any questions about anything I’ve said, or anything you see on this listing, just send us an email at questions@makearealoffer.com.
Thanks for watching the video, and good luck bidding!!

©Copyright 2008, Julia Kline. All rights reserved worldwide.