RALEIGH, N.C. (WNCN) — A recent report listed Raleigh as one of the most overpriced housing markets in the country.
Homes are getting snatched up before they even hit the market, and people are paying a premium for a place to live.
There’s a new platform that will soon be available in the Triangle to make buying and selling homes less of a headache.
“I wrote 70 offers on homes over the last few years. I would call my agent and figure out the offer and I would lose over and over and over again,” said Jordan Allen.
It’s a situation that Allen knows families across the country are dealing with every day: putting a bid on a new home, only to get out-bid and have to go back to the drawing board.
“It’s a heartbreaking process,” he said.
That’s why he created Doorsey.
The Washington-based tech company launched a system where real estate agents and home buyers can check out listings and bid on them, online, in real-time.
“A listing agent would submit an address to us. We build out an unbelievable listing with all of the answers to the test: pre-home inspections, due diligence. Sellers and the listing agents list their terms up front: what kind of financing types, when they want to close, the contingencies they have,” explained Allen.
He said it helps level the playing field and makes it a more transparent process, especially in areas like the Triangle, where the housing market is crazy and competitive.
“Buyers and their agents can come in and compete on price only,” said Allen. “They come [online] and they can bid as many times as they want, to win.”
Doorsey is working with DASH Carolina, a real estate firm in Raleigh, to help families find a new home.
Their listings should be posted in the next month, after a slight delay because of North Carolina laws.
“The auction commission came in and they want real estate agents to have an auction license [to use Doorsey], so it takes a few weeks,” said Allen.
Then, realtors will have access to the online platform, where sellers can view their house getting bid on, in real-time, with watch parties.
Buyers will be able to put their best foot forward to find a new home.
“It’s an equitable platform that is open and transparent for everybody,” explained Allen. “Pricing and deal terms should not be done behind the scenes.”
Doorsey is already active in several other cities and states, where the real estate market is also hot.
They’ve launched in Austin, Atlanta, San Francisco and several other cities.