For more than a decade Deasy Penner Podley has been shaking up the real estate industry with our hyper-local, boutique approach to buying and selling. We have grown and changed and adapted over the years while still maintaining our independence and staying true to our ethos of “Home as Art.” After we joined forces with Podley Properties in 2018, our reach and services have grown into the local powerhouse that we are now.
It was therefore our honor to be recently named the 2020 Most Innovative Brokerage firm by Leading Real Estate Companies of the World® for our work in founding and developing our patent-pending, online software program, plumBid. At the award ceremony in Las Vegas, LeadingRE President and CEO, Paul Boosma, commended plumBid and DPP for our efforts to “provide greater transparency, a higher sales price, and optimal terms for all parties.”
DPP founders, George Penner and Mike Deasy, created plumBid with the intent of ascertaining the true market value of a home by putting the consumer in charge of the negotiation process, with the guidance of their real estate agent.
Enlisting the help of Caltech graduate and Chief Economist, Galen Loram, plumBid developed the “Optimizer,” a tool that enables sellers to establish incentive variables – monetary values based on the sellers’ preference for escrow length, amount of cash down, and inspection contingencies.
During the 90-minute plumBid, buyers submit their price and adjust the Optimizer to match the seller’s incentives. Bids placed within the last 5 minutes extend the clock an additional 5 minutes, thereby eliminating “sniping.” Prevailing buyers sign purchase contracts, and all other bidders are offered back-up position.
“We’ve seen 36 counter-offers over a two-hour period,” said Lynwen Hughes, VP at DPP and Director of plumBid. “That process would take weeks in a traditional transaction.”
To date, 100% of our plumBids have closed escrow successfully. We have been featured in The New York Times, Curbed, The Los Angeles Times, and Dwell. In addition, CBS KCAL9 profiled and aired a plumBid from start to finish. For more information and to see our past plumbids, head over to www.plumBid.com!
