Companies similar to Sundae?

Question

Anyone know of any companies similar to Sundae? Sundae is an online marketplace that is a middleman between sellers and investors. The seller's info gets sent out to investors who will submit offers on their property and sellers compare offers and select which one they'd like to accept. I've been trying to do some research online, but most companies I've found charge per lead, but Sundae charges the seller a marketing fee instead of the buyer.

Nick C. · Answer

@John Morgan If you never get any properties from the platform why do you love it?

@Molly Francis If Sundae is auctioning off properties and the property owners take the highest bid, by default you've already paid top dollar. Tacking more onto the overpaid price and reselling it again to investors doesn't sound like a winning strategy. Have you ever bought and resold a property from Sundae?

Sundae looks similar to the MLS: The biggest difference is you don't know the listing price, it's in the seller's head. And the sellers don't have to take the highest bid, and often don't. My guess is most sellers are going to the platform expecting to get full retail for their house without going through the hassle of listing it and paying an agent. And when they don't get the price they want they simply don't accept the offer. I guess if you're an investor and don't mind paying retail for your investments it's a great platform.

Jim Pellerin · Answer

@Molly Francis Isn't that what you do as a realtor? You act as a middleman/woman between a seller and a buyer? Isn't the marketplace MLS? ANd you can present multiple offers to your sellers.

Molly Francis · Answer

I'm a licensed agent but I don't practice traditional real estate. I work for a brokerage that buys distressed properties with in-house cash then double-close with our investors. Companies similar to Sundae serves as another resource for me to offer on off market properties.

Michael Chiafulio · Answer

As far as I know, Sundae is unique with their online auction model.  Net Worth is another wholesale company.  Their set price includes all fees and is first come first serve typically.  Sometimes they will have their clients meet at the property and draw cards to determine the winner.  No bidding wars.  I am not sure if they are in your area however.

Robb Krautbauer · Answer

I'm an investor agent, I have never heard about Sundae. I'm going to check them out.

John Morgan · Answer

@Molly Francis

I love Sundae. But my winning bids never get accepted by the sellers. Lol. They obviously get denied and they re-list the properties I thought I won a couple days later. But I do like the idea of it. It’s like wholesaling on steroids. And less hassle for everyone.

Bill B. · Answer

So it’s like a horrible auction site with no clear reserve? Sounds like a terrible idea.

Molly Francis · Answer

Right, sellers don't always take the highest bid. There are several different factors that play into their decision and this varies from person to person. In my case, I have an established company to back me up and I am able to offer all cash closing in 2 weeks or less. Someone else, who may be able to pay more, may not have the same terms. Of course I'm not able to pay retail price for my investors, but the more offers I can get in, the more likely I'll run into someone who prefers my terms over another offer even though I may not be the highest price.

Companies similar to Sundae?

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