How Matt Proman Disrupted the Way Real Estate Listings Work

The real estate business is a trillion-dollar industry, with agents acting as guides to sellers and prospective homeowners each and every day. With the success of popular shows like Selling Sunset and Million Dollar Listing, it's clear that there's money to be made.

Unfortunately, like any lucrative industry, where there's money to be made, there's plenty of money to lose.

Matt Proman, entrepreneur and founder of the new real estate company BidMyListing, knows this all too well. "The idea for BidMyListing came to me when I was in the process of selling my home. I hired the wrong real estate agent, and it wasted six months of my time," he explains.

In the real estate industry, time is money, and not just for the sellers or homeowners. For realtors, time and advertising resources can be spent-and wasted-chasing leads.

"Real estate agents are spending $5 to $6 billion a year on advertising and marketing themselves in an effort to get listings. At the end of the day, they are only getting leads that they hope to convert into actual listings," Matt Proman explains.

Popular real estate sites like Zillow have found ways to profit off of this, with expensive tiers and plans that realtors have to buy into in the hopes that they'll get leads sent their way, even though, in the end, they will still be competing with countless other realtors on the platform. Websites comparable to Zillow have also notoriously kept up old listings, leading to realtors fruitlessly paying for leads to properties that have already been sold.

With the help of Million Dollar Listing's Josh Altman, Matt created BidMyListing.com to change that, creating a platform that allows realtors to cut out the spending they put into self-advertising and focus their budget on bids. "Instead of spending your money and throwing it against the wall, shift your spending over to BidMyListing.com. This will allow you to buy the listings you want, in the areas you want, and at the prices you're willing to pay," Proman explains.

To put it simply, realtors bid on listings, cutting out the need to bleed money looking for leads. Once they've won a bid, they can put forth the money they would have wasted earlier with full advertising rights to ensure they make the sale.

Of course, BidMyListing may not be for every realtor, Proman admits. "The reason agents might not be a good fit is if they don't have the resources for marketing and they haven't begun to create a network," Proman asserts. Every homeowner wants to make sure their agent will take the job seriously, and BidMyListing ensures that they can find someone that can guarantee a mutually beneficial sale.

Proman started BidMyListing with both the home seller's perspective and that of the real estate agent in mind. "It benefits both sides. Real estate agents get to manage their businesses from the web based app right from their phones. Agents control their inventory, their spending, and project their financial future for the year," he says. "The homeowner gets an agent that's qualified, that's got skin in the game, and that's more likely to get them to the finish line."

BidMyListing's proprietary software was created to benefit both parties as well. For those looking to sell, BidMyListing "allows homeowners to review each bid, which details the professional information and experience of each agent, the commission percentage desired, and contract terms proposed, including marketing strategies and time to complete a sale."

For agents looking to get past the expensive process of generating leads, fast-track sales, and refine their property portfolios, BidMyListing's platform is set up to notify them of every potential sale with real-time push notifications and alerts.

At the end of the day, Matt Proman founded BidMyListing to cut out the months of wasted time, energy, and money on all sides so that realtors and homeowners can stop losing out on their slice of the real estate industry pie.

"The foundation of a business is its customer relationships, and brand perception sets that tone," Proman says. "At BidMyListing.com, we strive to provide better solutions for agents and homeowners. We have created a win-win situation where homeowners get paid to list their home and have an agent that's guaranteed to be invested, all while agents can guarantee listings using their marketing dollars with laser focus."

As a brand new company intent on disrupting the way real estate listings work and with 4,000 currently registered realtors, BidMyListing has nowhere to go but up.

Promans only regret? That he didn't come up with this idea sooner. "Had BidMyListing existed when I was selling my home, I could've vetted dozens of agents and made a much better decision," he says. "I would have sold my house faster and for much more."