Open Door Auctions Innovative Approach Proves More Buyers and Sellers are SOLD on the Idea of Home Auctions

IRVINE Calif., May 31, 2011 /PRNewswire/ -- Open Door Auctions, Inc., a revolutionary new way to buy and sell property quickly and effectively, opened its doors with two new listings in Irvine—both properties sold in just two weeks with buyers showing up in record numbers.  

The company's unique business model proved successful by recently drawing nearly 400 people in one weekend and soliciting multiple offers.  A multi-pronged marketing blitz coupled with restricting access to the property prior to auction date—similar to Apple's last iPad launch—the Open Door Auctions system works by holding just one auction-style open house per listing.  This is particularly appealing to sellers who wish to sell quickly while maintaining their privacy.

In Quail Hill, the listing drew 32 bids while the Turtle Ridge listing drew 27 bids.  Both properties—now under contract— were held open for just four hours in one weekend.  

How is this accomplished: The Open Door Auctions business model treats real estate like the stock market—where volatility creates interest and price is set daily by supply and demand.  Every property has its own unique value.  Price has little to do with value; price brings people and people drive value. Open Door Auctions innovative auction method, along with the company's marketing program—where much more than the Multiple Listing Service (MLS) and a "For Sale" sign are used to attract buyers—allows the price to match what the property is worth.  By creating urgency and emotional competition using an auction method, Open Door Auctions avoids the risks of selling for too little or potentially sabotaging a sale by listing at a price that's too high.  The seller always has the final say and is not obligated to accept a low offer.  

"Having nearly 400 people show up in one weekend is unheard of in this market," said Jason Hartman, President and CEO of Open Door Auctions.  Hartman adds, "Our business model proves that buyers and sellers are looking for a better way. Open Door Auctions is the answer to the traditional, dysfunctional approach to selling real estate."

According to the California Association of REALTORS®, the median time on market in 2010 was 55 days; however, 20.4% of listings sat on the market more than 120 days prior to sale.  The Open Door Auctions system shortens that timeframe to 14 days—guaranteed.  

Unlike traditional real estate brokers, Open Door Auctions does not require signing a long listing agreement.  The marketing period is just two short weeks with one open house to auction the property.  This hassle-free approach protects the seller's privacy and drastically reduces time on market. The Open Door Auctions system benefits buyers who want to side-step the typical house hunting process in hopes of scoring a winning bid at auction. The buying process is seamless and easy compared to the old-fashioned way of writing up an offer and hoping for success.  

About Open Door Auctions, Inc.

Created by successful real estate innovator Jason Hartman in Orange County, California, Open Door Auctions, Inc. operates using a business model that is fundamentally different from every other traditional real estate agency in the marketplace. Open House Auctions hosts weekly auction-style open houses—offering interested buyers, homeowners and real estate agents a more fruitful and exciting way to do business.   Visit Open Door Auctions, Inc. online at www.OpenDoorAuctions.com or 800-813-QUICK.

Contact: Nicole Thome
Office: (714) 820-4250
Direct:  (949) 467-9282
[email protected]

SOURCE Open Door Auctions, Inc.