Home sales

Will the Doorsey open offers platform change home sales? It could, yes

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Doorsey is an open offer platform for buying a home.

Platforms: Navigator

Ideal for: All agents and home buyers

Main Selling Points:

  • Very detailed listing pages
  • Full transparency of current offers
  • Free for agents
  • Video, rich content downloads
  • All contractual conditions provided in advance

Main concern:

Mainly adoption. It’s ultimately a better way to buy a home – but not necessarily for beginners. Complementary mobile apps could also add more value.

What you should know

Doorsey is a better way to buy a home. An open offer platform that allows everyone to understand what a house is, the browser app is conceptually modeled after BringATrailer.com, a popular classic and luxury car shopping site. Doorsey allows sellers and their listing agent to put everything online, every inspection, every crack in the drywall, wrong color choices and outdated appliances.

However, all the good stuff is also there, including current offers, terms of deals, questions from competing buyers, and local information from other agents and bidders.

The first inclination is that such a platform allows investors or those who are more comfortable to buy blind. Well, yes and no. The smartest SEO agents will use Doorsey to its fullest extent, uploading as many photos, video content and immersive media tours, such as Matterport, as possible.

Doorsey also encourages inspections, which it handles through its own third-party professionals, thus avoiding the inevitable but utterly absurd “I don’t trust other inspectors” argument.

Doorsey Ads also put all the terms of the seller’s agreement, from dates to disclosures, up front for everyone to see.

Ultimately, all of this information can make listings on Doorsey much more attractive to investors, who often rely on their instincts and experience to bid on sight.

But here’s the thing: Doorsey is looking for listings for the common homebuyer and everyday active market, like upscale, well-maintained suburban homes that would simply never have cash flow or would offer no kind of immediate return.

The intention behind Doorsey is to make the deal more transparent, to put everything on the table so the entire free market can see what they are competing for. It has never made much sense for listing agents not to disclose competitive offers or to wait by inspection times for a buyer to decide if they really want a home.

There’s no reason or downside to sharing what the last person is willing to pay for a house. In fact, it’s a smarter way to do it. It saves buyers agents time by knowing exactly when their client is out of the running, and it serves the seller well by ensuring that every interested buyer is qualified and capable.

There is a concept in sales and auctions called the “linkage principle”. This refers to the idea that a buyer will offer less for something when they have to compensate for finding the unknown. In turn, the more a buyer knows in advance, the less risk they perceive in the sale.

The sales process unfolds on Doorsey one offer and one comment at a time. The buyer’s name, price and published information are fully displayed, and from these comments comes wisdom. Questions about the community, how to handle a minor repair, or when the tile was installed can all be answered in the sunlight, answered by anyone who follows.

Doorsey is the app I’ve long hoped Relola would become for our industry. (Relola succeeds under a different model, but still rooted in collaboration among colleagues.)

Lists have time limits, but as the clock ticks down, each last-minute auction starts another three-minute clock, skipping the last random last-second winner. This ensures that everyone shoots from the same position when the property enters that last window.

Doorsey encourages its photographers to open cabinets and capture the inside of closets. The same goes for the exterior. Each main photo of the main rooms and features will be accompanied by narratives, each offering more on its own than the full MLS description allows.

Doorsey also adds meta tags to critical interior photos that will share device data, including links to manufacturers’ websites. If there is a red tag, it is not included in the sale. Items with green tags come with the house. Of course, these items are also listed in the condition sheet.

A series of tools also accompanies each list page. There’s a payment calculator, document repository, and in-person visit scheduler. Agents can also create profile pages on Doorsey so everyone knows who’s who, which I think adds an extra touch of openness.

Moreover, all the information about each ad and its offer cycle is presented in a very nice user interface. Images, comments and information menus are intuitively organized and coordinated to ensure that users do not miss important information or are in any way taken away from what matters to a property.

I would like to add that in my last full-time role in the industry, I worked at a multi-family brokerage selling apartments in this exact way. We didn’t have a cool online portal to facilitate transactions, but we encourage buyers to do their due diligence before submitting an offer.

In other words, know what you want before you try to buy it. Get inspections, take photos and let us show you the property without any makeup. Our selling clients knew that when a formal offer came in, it had a very high close percentage.

There’s no reason why residential homes can’t be sold the same way.

The company is increasing its inventory, currently active in Washington State, San Diego and Atlanta. He is actively looking for new registrations. The only thing not to like about Doorsey is that it’s not what you’re used to. And that’s the point.

Do you have a technology product you would like to discuss? Email Craig Rowe

Craig C. Rowe started in commercial real estate at the dawn of the dot-com boom, helping a range of commercial real estate companies build their online presence and analyze internal software decisions. He now assists agents with technology decisions and marketing by reviewing software and technology for Inman.