Atlanta	1,462	1,496	2,693
Boston	242	498	1,240
Chicago	2,420	10,023	9,199
Dallas	744	332	1,950
Denver	411	1,358	1,186
Vegas	5,050	3,264	3,336
L.A.	369	2,686	4,023
Miami	1,950	8,770	10,375
Phoenix	2,128	6,802	4,063
Seattle	298	3,470	751
S.D.	1,038	3,238	5,519
S.F.	75	468	1,186
D.C.	603	720	2,374
**NOTE: 15% added to Trulia numbers to account for no FSBOs in results.

Was this a scientific comparison? No, because it doesn’t consider the quality of the listing data. For example, Trulia’s or Propsmart’s search algorithms may exclude listings from their index if the listing is missing data points A, B, and/or C. As a result, the total number of their results would be lower. Regardless, it was nice to visualize how RealtyBaron’s RealSearchâ„¢ sizes up against the incumbents.

Basically, anyone who has taken the home search into their own hands using vertical search tools such as Realtor.com, Trulia, or Propsmart can use this new feature to connect with a Realtor® who will represent them in the transaction. Realtor® bids are based on what sales commission (or flat fee) they’d accept as compensation. The rebate is the difference between the co-broke fee listed in the MLS and the Realtor’s final bid. For example, a co-broke fee of 3% minus a final bid of 1% = 2% rebate for buyer.

Like RealtyBaron’s current Listing Auctions, bidding on Buyer Rebate Auctions will be controlled by the gatekeeper algorithm, AgentRankâ„¢. As the name implies, AgentRank(TM) ranks agents and prevents underperforming agents from bidding. By specifying a minimum AgentRankâ„¢, buyers can ensure they meet a Realtor who has a proven track record.

For Realtors®, this feature is an easy way to connect with clients who have already absorbed the most costly part of representing buyers–the prolonged home search.

UPDATE: Inman News writes about our new Buyer Rebate Auctions. Thanks, Glenn!