deasy/penner&partners, the Southern California-based residential real estate firm, is pleased to announce the launch of plumBid, (www.plumBid.com), an accelerated online marketing and sales platform that utilizes a descending Dutch bidding methodology, rather than an ascending auction format to sell exceptional properties to a global audience—a potentially game-changing approach to the buying and selling of luxury homes.
The first plumBid is on July 26, 2015 and will be a 1920’s Italianate residence in Beverly Hills, recently featured in Architectural Digest. The “preemptive asking price” is $11,500,000 and the current owners are retail/fashion executives (Lucky Brand, Coach, Gap, JCrew, etc.) Dave DeMattei and Patrick Wade.
“plumBid mimics the way the traditional real estate market functions today – only in a consolidated timeframe,” says deasy/penner and plumBid co-founder Mike Deasy. After extensive local and global marketing to build awareness and interest, buyers may purchase the property prior to the plumBid at the sellers Preemptive Asking Price – or, if buyers elect to wait until the plumBid date, they will be financially prequalified and registered as bidders, and will log in on bidding day to compete against other registered buyers. Over a condensed time period, the price will drop in random increments. The plumBid ends when the first bidder accepts the current displayed price.
The plumBid methodology is better for both buyers and sellers. “plumBid is the only real estate bidding platform that allows a buyer to preempt all other bidders by being the first to bid, which eliminates multiple offers and bidding wars,” explains deasy/penner and plumBid co-founder George Penner. “For sellers in a traditional auction, you need at least two buyers—preferably many more— gathered together, to generate excitement and a higher sales price. With the online plumBid platform, you need only one bidder.”
Sellers are guaranteed to start with their preferred Preemptive Asking Price and enthusiasm is generated solely by buyers who are online, in their own home or at their real estate agents office, who decide when it’s time to buy. “They just can’t wait too long, because another buyer may think that the price is right,” Penner adds.
Once the plumBid is complete and a winner is determined, a back-up offer is offered to all other registered bidders, at the winning price. Escrow is opened and deasy/penner&partners shepherds the necessary components to complete the real estate transaction.
Learn more about plumBid at www.plumBid.com.
721 North Rexford Drive, Beverly Hills
contact us to request a showing :: 310.275.1000
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| Presented by George Penner and Josh Gaunya :: deasy/penner&partners |
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