I recently saw a press release about a “new eBay-style platform which allows vendors to bypass agents” being launched by non-bank lender inTouch. The release said that the service was designed to deliver transparency and allow vendors to avoid paying agents’ fees.
Sounds fair enough: I don’t mind competition, and I especially respect good competition.
The founder of inTouch, Mr Paul Ryan, was quoted as saying that one of the great frustrations for vendors and buyers was the lack of transparency around the sales process. Their solution was a “vendor assisted” platform they call “Live Offer“.
A later quote attributed to Mr Ryan said: “Live Offer allows the vendor to see offers from real buyers and buyers know what other buyers are offering“. Continue reading Clueless Negotiating