Ask anyone how much something is worth and they’ll tell you "as much as a buyer will pay." Yet much of the real estate market is driven by sellers’ price expectations. The just-launched tech-centric brokerage BuyerPrice approaches the philosophy of a real estate sale differently, promising buyers: "you’ll pay less for a home if you buy it through us than with a regular broker." To do this, the online platform -- which is still in testing, with about 450 users participating in the beta test at the moment -- dishes its own home value figures using a patent-pending “dynamic pricing model.” And as BuyerPrice co-founder Tim Hammond explains: "If we can’t negotiate the BuyerPrice stated or less, then we’ll subsidize your purchase by up to 1 percent.” The New York-based tech firm operates as an open platform where approved real estate agents can join and receive buyer leads -- and it’s seeking experienced buyer's agents with a proven record of negotiating do...
- BuyerPrice.com has launched a mobile app that will give buyers a dynamic price estimate of homes for sale.
- BuyerPrice is seeking to enroll 3,000 top negotiating buyer agents across the country to work with the leads coming in from the app for a program in the testing phases.
- The location-based app will absorb ratings from buyers touring homes to feed the fluid pricing system, similar to demand-driven metrics on Uber and Airbnb.
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