Food for thought: Why is there no "rental auction" site or app?

[Johann Jells]

I was reading a post about an app in SF to auction your street parking spot when you leave it to people then looking for a spot. It occurred to me to wonder why we have to advertise a fixed price for rentals and potentially either waste time or leave money on the table. There's got a to be a way to "marketize" an individual rental other than a fixed price. The problem of course is integrating it with the rest of the process like showing and credit checks.

Her'es one scenario:

Run it like Ebay with proxy bids. Everyone who sees the place at a "starting bid" price and wants it places a max price bid. If there's only 1 bidder, it goes at starting price, otherwise it gets bid up, ala Ebay. If the winning bidder fails the credit check etc, it goes to the next highest bidder.

Perhaps this would only work in hot markets, but it's something to contemplate. There's definitely room for improvement in the current system of guessing what the market will bear. Every rental, unless you're in some development of clones, is different.