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DomoBid
Location: San Francisco, California, United States United States
Founded in: 2008
Stage: Pre-launch
Number of employees: 1-5
Short URL: vator.co/DomoBid-Online-Residential-Real-Estate-Auctions
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DomoBid

Online Residential Real Estate Auctions
Startup/business
San Francisco, California, United States United States
http://www.domobid.com
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Company description

DomoBid is an online residential real estate auction for regular houses and condos.  Not foreclosures, not super-ultra-luxury estates, and not random land lots in the middle of the desert.  

Doesn’t Ebay do that?  No, and neither does anyone else until you’re already in foreclosure.  That’s the Problem: How does a seller sell quickly for fair market value in a tough market?

Unlike general auction sites or foreclosure auction sites, DomoBid focuses specifically on regular residential real estate: the high quality homes and condos that regular people buy and sell everyday.  As a seller, you'll save money and sell your home for a higher price in 28 days.  As a buyer, you get perfect transparency about other people's offer prices, and you pay exactly what you want while seeing exactly what the market values the home for.



Team
Business model

DomoBid grosses a minimum of .75%, and up to 3.25% commission of the price for all homes sold through the site.  On an average home sale, that is between $2,250-$9,750, and substantially more in high cost areas such as California. All while costing sellers half the usual commission and giving buyers more power and transparency in the purchase process.

 

Sellers:

  • Sell your property for the highest price possible in 28 days with multiple bids.
  • Pay half the regular commission (only 3%). 
  • Full exposure with local Multiple Listing (MLS) posts and everything else. 
  • No more guessing at a listing price, or endless price reductions.
  • Thousands of buyers will see your
    property, and they all have the chance to bid for exactly what they're willing to pay.
Buyers:
  • Find the perfect property, and bid exactly as much as you'd like to pay with a click.
  • Skip the hassle of often fruitless negotiations and counter offers. 
  • See exactly what others are willing to pay, and you pick exactly what you're willing to pay. 
  • No more wasting time submitting offers on overpriced properties, or missing out on bargains.
  • Submit your price with a click and see the current auction price instantly!
Competitive advantage