What happens to Adaptive Real Estate Services? Part 2

Now that no one wanted to pay the $150K minimum bid (click on the pink box that says “Adaptive Real Estate Assets”), I’m once again curious, what is going to happen to Adaptive Real Estate Systems?

If someone wants a company with $12k/month revenue stream, 57 MLS IDX feeds (approximately 1.3M listings), the price just got a lot cheaper.   Although it is interesting that the original owners, who presumably cashed out at a much higher level don’t think it is a business worth buying at that price.

12 thoughts on “What happens to Adaptive Real Estate Services? Part 2

  1. I wondered that myself. I almost posted about it.

    For one that it didn’t get any offers is bad so you can now discount the price (no offers=price to high)

    Two, the fact the founders didn’t buy it back makes you wonder.

    Three, It might have 12k per month revenue built in but how many of those customers are/will jump ship? Let’s cut that revenue number in half (high hopes) and then offer 10x monthly revenue. 60K offer. Typical website buying is to offer 10x monthly revenue, not typical of buying a business but lets just lowball it and see what happens

    Maybe 60k is worth access to 57 MLS’s???

    I’ll pitch in 1k
    you in for the 59K????

  2. A comment on TechCrunch: The assets are going in a separate auction

    Keith Teare
    December 22nd, 2007 at 4:22 am

    A couple of people have asked about the ARES sale.

    The reserve on ARES was $150,000. Despite a lot of interest in the assets nobody bid the reserve. As a result there was no buyer.

    In discussions today we have decided to re-auction the ARES assets, but with no reserve. The auction will run through next Wednesday.

    Keith Teare
    ceo/edgeio

  3. Fascinating! Great to know the auction is on!

    I always wonder why people start betting so early on an auction that won’t end for a few days. Do they see it as an advantage to run the price up early? Do they just want to see their name on top?

    Interestingly, I’m counting 9 bidders so far:

    amilator
    astanley
    bgaskill
    Domained
    Globalbillboards
    mhavoc
    michaeldm
    MyREALTYcom
    SRE

    With the exception of MyRealty.com, I can’t make out any of the bidders.

  4. I don’t understand why “bgaskill” keeps overbidding himself:

    2007-12-24 00:25:52 bgaskill $26,000 (proxy)
    2007-12-23 20:18:04 bgaskill $22,640 (proxy)

    Why bid 22,640 and 4 hours later, with no other bids placed, increase it to $26K???

    This isn’t the only example:

    2007-12-22 10:03:15 bgaskill $17,250 (proxy)
    2007-12-22 09:46:58 bgaskill $15,839 (proxy)

    What’s up with that? Seems either bgaskill is trying to run up the price, or somethings just goofy with the auction site.

  5. Jessie: Interesting idea, but I heard somewhere that Zillow has already gone the route of becoming a broker in many areas in order to get access to listings. I think going the brokerage route, versus the IDX route, makes a lot more sense because they get access to so much more backend data.

  6. Pingback: Up… Up… Up… ARES Action ends with michaeldm.. « 4realz.net

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