Yeah, sell your home, yourself, in a weekend.
I’m serious. You might be able to pull it off.
How would you like to sell your home in just five days, at full price or near it, and pay no broker’s commission?
Such is the attraction for an auction-type method (users call it a “round-robin” bidding process) of selling homes explained by the book, “How to Sell your Home in 5 Days,” by Bill Effros.
Here’s how it works:
* On Wednesday sellers start promoting the sale through newspaper ads, signs, and other media. These say that the property will be awarded to the highest bidder following a two-day open house that weekend starting Saturday.
* The sellers set startlingly low starting prices.
* They have all open-house attendees sign in and place written bids on the sign-in sheet.
* Next they stage the round-robin bidding after the open house closes on Sunday, calling each person who penciled in a bid, and asking if they want to increase the bids. Although that may sound tedious, for most sellers it’s very exciting.
* Repeat until there’s but one bidder left.
Most important: have a reserve, so in case bids come in low, you can back out without everyone getting mad at you.
This sort of thing might work, in isolated cases.
If you’re the adventurous type, give it a whirl. What’s the worst that could happen (beyond you losing the entire profit on the largest investment of your life)?
Source: A 5-day plan to sell your house: More Americans are using auctions to sell property. Is this strategy for you? – By Les Christie, CNN/Money
How To Sell Your Home In 5 Days – By Bill Effros