I'm going to sell my house using the 5 day sale technique in Bill Efros book "How to Sell Your Home in 5 Days". Has anyone tried this method? If so, has it worked for you?
I tried this method - it didn't work for me because end buyer flaked out. A possible factor is that I didn't get enough interested buyers for the property by Friday nite as per the book's intructions (we had 19 but went ahead with the sale anyway - auction not near any major holiday/events - was told that I set the initial pricing too high tho' I DID follow the calculation in the book). The buyer that won the round robin auction had an offer out on another property at the same time they were looking at ours. Their offer was accepted for the other property but they were hoping it wouldn't because they felt that my home was a better buy. The top bid was in the ball park of what we were hoping to get for it.
I have friends who have used this technique with great success. They have sold at LEAST 3 homes this way - possibly more - and will swear by the method. They always got more than what they thought they would get.
If you are willing to try this method and have a website to advertise it, do not put the web address in the newspaper ad because the hit count/emails from interested parties will throw off your actual initial interested party count.
I just read the book once and just went for it. Best wishes If you decide to go for it.
The concept here is basically the week before the weekend you want to sell your property you market the heck out of it. Say you want to sell it on Sunday, you market the crap out of it from Monday - Sunday, saying it will be auctioned off to the highest bidder. Put out flyers, a couple classifieds, whatever - and get people to the house... You have an open house on Saturday for a couple hours and on Sunday for a couple hours. All the people who show up to the open house are able to bid on the property Sunday night... Highest bidder wins and have a certain # of days to purchase... That's the concept...
My brother and I tried to do it last Fall - We had a rough turnout to the open houses. The weather was bad, and I think we should have advertised a lot better. Anyway - it didn't sell, but we sold that place a couple months later using conventional FSBO.
Has anyone eles had any luck with this? I am going to pick up this book. I am a agent am listed the property in MLS but I just don't have the time to wait right now my new house is ready to go.
I tried this method - it didn't work for me because end buyer flaked out. A possible factor is that I didn't get enough interested buyers for the property by Friday nite as per the book's intructions (we had 19 but went ahead with the sale anyway - auction not near any major holiday/events - was told that I set the initial pricing too high tho' I DID follow the calculation in the book). The buyer that won the round robin auction had an offer out on another property at the same time they were looking at ours. Their offer was accepted for the other property but they were hoping it wouldn't because they felt that my home was a better buy. The top bid was in the ball park of what we were hoping to get for it.
I have friends who have used this technique with great success. They have sold at LEAST 3 homes this way - possibly more - and will swear by the method. They always got more than what they thought they would get.
If you are willing to try this method and have a website to advertise it, do not put the web address in the newspaper ad because the hit count/emails from interested parties will throw off your actual initial interested party count.
I just read the book once and just went for it. Best wishes If you decide to go for it.
Aloha,
Makoto
Can someone explain this concept?
The concept here is basically the week before the weekend you want to sell your property you market the heck out of it. Say you want to sell it on Sunday, you market the crap out of it from Monday - Sunday, saying it will be auctioned off to the highest bidder. Put out flyers, a couple classifieds, whatever - and get people to the house... You have an open house on Saturday for a couple hours and on Sunday for a couple hours. All the people who show up to the open house are able to bid on the property Sunday night... Highest bidder wins and have a certain # of days to purchase... That's the concept...
My brother and I tried to do it last Fall - We had a rough turnout to the open houses. The weather was bad, and I think we should have advertised a lot better. Anyway - it didn't sell, but we sold that place a couple months later using conventional FSBO.
Good Luck!
[addsig]
Has anyone eles had any luck with this? I am going to pick up this book. I am a agent am listed the property in MLS but I just don't have the time to wait right now my new house is ready to go.