Like many listings in the Seattle area, Keith Mourer’s property received multiple offers — 10, to be exact. But this wasn’t a typical bidding war. Prospective homebuyers could see the offers they were competing against in a process known as “transparent bidding.”
- Brokerages and tech firms are experimenting with "transparent bidding," which shows buyers all the offers made on a listing.
- Supporters say this fetches top dollar for sellers, but skeptics say that's often not true because it takes away one of their strategic advantages.
- Haus, Faira and Reali are using transparent bidding, while industry juggernauts Ten-X and Opendoor also appear to be experimenting with the technique.