Deasy/Penner & Partners Launches Plumbid - A New Online Sales Platform for Luxury Real Estate

Posted by JJ Juarez — June 29, 2015

1435603770LOS ANGELES, CA - deasy/penner & partners, the Southern California-based residential real estate firm, is pleased to announce the launch of plumBid, an accelerated online marketing and sales platform that utilizes a descending Dutch bidding methodology, rather than an ascending auction format to sell exceptional properties to a global audience—a potentially game-changing approach to the buying and selling of luxury homes.

The first plumBid is on July 26, 2015 and will be a 1920’s Italianate residence in Beverly Hills, recently featured in Architectural Digest.  The “preemptive asking price” is $11,500,000 and the current owners are retail/fashion executives (Lucky Brand, Coach, Gap, J Crew, etc.) Dave DeMattei and Patrick Wade. To see details on this listing, please visit www.luxuryrealestate.com/2398026.

“plumBid mimics the way the traditional real estate market functions today – only in a consolidated timeframe,” says deasy/penner and plumBid co-founder Mike Deasy.  After extensive local and global marketing to build awareness and interest, buyers may purchase the property prior to the plumBid at the sellers Preemptive Asking Price – or, if buyers elect to wait until the plumBid date, they will be financially prequalified and registered as bidders, and will log in on bidding day to compete against other registered buyers. Over a condensed time period, the price will drop in random increments. The plumBid ends when the first bidder accepts the current displayed price.

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The plumBid methodology is better for both buyers and sellers. “plumBid is the only real estate bidding platform that allows a buyer to preempt all other bidders by being the first to bid, which eliminates multiple offers and bidding wars,” explains deasy/penner and plumBid co-founder George Penner. “For sellers in a traditional auction, you need at least two buyers—preferably many more— gathered together, to generate excitement and a higher sales price. With the online plumBid platform, you need only one bidder.” 

Sellers are guaranteed to start with their preferred Preemptive Asking Price and enthusiasm is generated solely by buyers who are online, in their own home or at their real estate agents office, who decide when it’s time to buy. “They just can’t wait too long, because another buyer may think that the price is right,” Penner adds.

Once the plumBid is complete and a winner is determined, a back-up offer is offered to all other registered bidders, at the winning price.  Escrow is opened and deasy/penner&partners shepherds the necessary components to complete the real estate transaction. Learn more about plumBid at www.plumBid.com.

For more information about deasy/penner&partners or plumBid, please contact Justin Juarez at 626.683.0777 or jjuarez@deasypenner.com.

About deasy/penner&partners

deasy/penner&partners is a residential real estate brokerage firm that specializes in the representation of estate, architectural and historic and properties. Founded in 2005, by both Mike Deasy and George Penner, and together with a growing roster of partners—currently at 100—the firm brings decades of experience and a deep knowledge of the Southern California residential real estate market to its clients. To date, deasy/penner&partners has represented billions of dollars in residential luxury properties. The firm is internationally recognized for its creative vision, dynamic business model and execution in services worldwide. To that end, deasy/penner&partners is a member of the Luxury Real Estate Network. LRE is an international network of like-minded firms, in more than 80 countries. 

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