[quote=sdrealtor]The system is what it is because it works. If we had an ebay style bidding system everyone would bid a dollar more than the last guy and it would go on forever. The system is quick and is meant to find the most willing, able and motivated buyer as quickly as possible. Like it or hate it, you wont see it go anywhere because it works.[/quote]
I’m not saying that it doesn’t work. I’m just saying it could be working much better, for both the buyers and the sellers. Example would be the house I lost by $5k. If I would have know, I might have increased my offer by $6k. If that $6k was enough for me to win the house, then it would be a win for me and a win for the seller, since they would get one more grand from the deal. If the $6k was not enough, then the seller would still win, since the winning bid would have been more than what it sold for.
With eBay, you can put your max bid, and the system would then automatically increase the high bid until only 1 bidder left standing. All of this happen w/in seconds. Then the other buyer would then have a choice to either drop out or resubmit a higher bid. But of course, it doesn’t go on forever, since there’s a time limit.
I don’t think the system would change anytime soon either. Just because it’s the way it is, doesn’t mean I have to like it. That’s all I’m saying. I’m not hold my breath for change.
