Industry News

An eBay model for real estate

Realty Baron puts sales commission on bidding table

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Billions of people place bids for goods on eBay each year, and now a software developer in Texas is bringing the auction concept to real estate sales commissions. Realty Baron is still in its infancy, but the online lead service hopes to grow into a valuable resource for real estate agents and home sellers.   Realty Baron attracts home sellers by offering them more control over the commission they'll pay a real estate agent, and the level of services and agent they choose to use.   "The goal is to have a very open marketplace for matching sellers and agents," Realty Baron creator Marc Dugger said. "The sellers themselves are posting the property information...they're able to specify the starting and reserve commission." A reserve commission is an amount the seller considers acceptable.   Realty Baron's business model contains two key components: a unique AgentRank system Dugger designed himself, and the commission-bidding system, which gives home sellers a platform to ...