Auction-style home-buying platform Doorsey has officially opened another market with its second sale in Nashville, Tennessee.
Auction style home buying platform doorsey officially opened another market with its second sale in Nashville, Tennessee. It now operates in seven cities across the country, aiming for 12 more by the end of the year.
A listing agent using Doorsey sold a four-bedroom, two-and-a-half-bath home in the Nashville submarket of Mt. Juliet, according to a press release.
Jordan Allen, CEO and co-founder of Doorsey, said it’s been an exciting year for his company.
“Our team remains laser-focused on taking all the guesswork out of one of life’s biggest and most important decisions,” he said in a press release about the Nashville expansion.
Doorsey has partnered with Ashton Real Estate Group Advantage RE/MAX for the Mont Juliette sale. Its broker/owner, Gary Ashton, said Doorsey offers his team a smart alternative to present to sellers.
“Our mission has always been to advise our clients with cutting-edge information,” Ashton said in a statement. “Once Jordan and his team landed on our radar, it was clear that their platform would further equip our agents to not only build more efficiency into the process, but also to maximize results.”
Doorsey’s model uses a publicly accessible auction website where buyers can view competing bids and submit formal “bids” on top of the last. People can ask the seller questions and trigger discussions about specific concerns about the home. All comments are accessible to everyone.
Each listing is marketed on Doorsey with extensive visuals, marketing content, all seller disclosures and a formal property inspection paid for by Doorsey, acting as a neutral party. Doorsey takes a percentage of the final sale amount.
When an ad’s window of opportunity approaches its final seconds, the period between offers automatically increases to three minutes so that competing parties have a chance to react to each other.
In an interview with Inman, Doorsey said, “There is a concept in sales and auctions called the ‘linkage principle’. It refers to the idea that a buyer will offer less for something when they have to compensate for discovering the unknown. In turn, the more a buyer knows in advance, the less risk they perceive in the sale. »
Doorsey encourages sellers and their agents to share as much about the home as possible. The company will even hire photographers for a listing to ensure that much of the house, warts and all, are exposed to the open market.
Doorsey is backed by notable names including 166 2nd Financial Services, Agya Ventures, Liquid 2 Ventures, SRM Development and Sam Parr, according to the press release.
Email Craig Rowe