Does anyone have any experience with the 5-Day approach (as described in the book by Bill Effros) to selling a property?
I like to hear the good, the bad, the ugly…
Thanks
A couple years ago I was inspired by the 5-day sale book to create an online auction site for real estate.
Bottom line is that 5-day sale, live auctions, internet auctions all work! In fact I attended a live auction this past Tuesday in St. Louis and was amazed that 5 houses all in need of work sold in less than 15 minutes all at prices that, if listed in the MLS, would last for weeks and probably months.
The one drawback is they take effort to coordinate, advertise, hold open houses, etc. It’s definitely not a guaranteed sale and it’s probably not for every property.
However, auctions work because they stand out and draw attention and create excitement about a property. Isn’t that the goal when you’re selling? Think of them as a great marketing strategy.