BidMyListing

About BidMyListing

BidMyListing operates a real estate marketplace that fundamentally alters the traditional process of connecting homeowners with real estate agents. Founded in 2021 by serial entrepreneur Matt Proman and celebrity real estate agent Josh Altman, the company was born from Proman's own frustrating experience when selling his home. He identified a need for a system that better aligns the interests of sellers and agents from the outset.

The platform inverts the standard lead generation model. Instead of agents spending marketing dollars on uncertain leads, they can directly bid for the right to represent homeowners who are ready to sell. For homeowners, this creates a competitive environment where they can compare bids from various agents. These bids are not merely proposals; they include a cash-upfront payment to the seller, a proposed commission rate, a marketing strategy, and the agent's listing terms. This model ensures the homeowner receives a tangible, immediate financial benefit and engages an agent who is financially invested in the listing from day one. The homeowner is not obligated to choose the highest cash bidder, allowing them to weigh an agent's experience and strategy against the upfront payment.

The company's revenue is generated by taking a percentage of the winning agent's bid. For agents, the platform offers a more predictable way to acquire inventory compared to traditional marketing expenditures which have low conversion rates. For homeowners, the process is streamlined: they provide their property details, and the platform's technology matches them with local agents who then submit their comprehensive bids. After a soft launch to test the market, the company launched nationwide in the US in June 2022. By October 2022, BidMyListing had raised a total of $20 million in investment capital to fuel its expansion.