I talked about how I see potential in disclosing property offers to all parties, in an open, real-time marketplace. The discussion on Bloodhound Blog was predictably philosophical; xenophobia was displayed by some folks on Active Rain.
The Big Idea was that this added transparency might engender trust among the home buying public, the banks, Wall Street, and the Government regulators. What I hadn't considered was the benefits to the seller.
Sellers sometimes question if they see ALL potential offers on their properties.
AREBOT.com hopes to change all that. AREBOT.com announced its worldwide release on BloodhoundBlog:
AREBOT.com, which stands for the American Real Estate Board of Trade, is the name of the company that intends to open up the demand-side statistics, by voluntary submission of properties, to an online NASDAQ-like market.
AREBOT.com is not intended to be an “auction”. It is an open, transparent, real-time market. Each zip code will have a live “ticker” moving across the screen, displaying actual offers on homes. Each listed property will display a time-dated offer history. Entries are voluntary and cost nothing to the sellers of the home. The “price”, if you will, is that they offer the property on this transparent market.
The Company has authorized me to extend an invitation, to Active Rain real estate agents, to a conference call:
Wednesday, June 24, 2009 at 1PM RSVP on Bloodhound Blog
I generally hate to dissuade conversation but invite folks who are interested in the conference call to comment on Bloodhound Blog (opens in a new window).
AREBOT.com is exclusively working through real estate agents.