[5-DayForum] Atlanta, GA 5 day sale post mortem
Richard Burton
richard1burton at yahoo.com
Wed Aug 1 11:52:19 EDT 2007
If you come across a better advertising vehicle than the AJC, please let me know. I have not had much luck with that in the past, for either selling or renting homes.
If you have a home on the south side of Atlanta , try the Clayton county paper, it includes ads in Fort McPherson paper and Hartsfield Airport paper.
Richard
----- Original Message ----
From: S M <waldothebear at hotmail.com>
To: 5-dayforum at mailman.howtosellyourhomein5days.com
Sent: Wednesday, August 1, 2007 10:44:51 AM
Subject: Re: [5-DayForum] Atlanta, GA 5 day sale post mortem
What I meant to say below was that they had set the price at the magic
number below half of what they conservatively thought they'd get for the
house. Basically, they followed the book.
My guess is that they didn't really get to the three real buyers, but it is
only a guess and speculation. The pat answer that "they were offered what
their house was worth that weekend" is definitely not the case in at least
one of these I've watched. However, I'm not sure that lowering the price
more would bring in the right buyers either. I think there has got to be a
better place / way to advertise than the AJC. There has got to be a way to
make sure that someone looking for a $400,000 house will find one advertised
at $199,500 and actually check into it.
Are you also in the Atlanta area?
Sandy
>From: THOMAS KEATON <keaton9321 at msn.com>
>Reply-To: How To Sell Your Home in
>5-Days<5-dayforum at mailman.howtosellyourhomein5days.com>
>To: How To Sell Your Home in
>5-Days<5-dayforum at mailman.howtosellyourhomein5days.com>
>Subject: Re: [5-DayForum] Atlanta, GA 5 day sale post mortem
>Date: Tue, 31 Jul 2007 19:23:04 -0700
>
>
>I apologize for my question being obtuse. What I meant was that if people
>did get the proper number of responses but did not get what they had
>wanted, was it because the 3 real buyers were not among their responses and
>was that because they really didnt start low enough to attract the 3 real
>buyers? If they didnt start low enough the process seems to indicate that
>they werent going to find the 3 real buyers who were willing to pay the
>highest fair market value. Hopefully, this is not as confused as the last
>question seems to be. I have an interest in this 5-day sale approach from
>a process point of view.
>
>Tom Keaton
> > From: waldothebear at hotmail.com> To:
>5-dayforum at mailman.howtosellyourhomein5days.com> Date: Tue, 31 Jul 2007
>19:56:18 -0400> Subject: Re: [5-DayForum] Atlanta, GA 5 day sale post
>mortem> > Tom,> > If you are asking this question of me, I'm not sure I
>really understand what > you are getting at. I know there have been several
>in the Atlanta area that > had to cancel because they didn't get enough
>response. Of the ones I've > seen that actually proceeded to the
>inspection, they were using the magic > number slightly lower than what
>they felt the house would bring. Is that > what you were asking? Or did I
>totally rearrange the question? :^)> > Sandy> > > >From: THOMAS KEATON
><keaton9321 at msn.com>> >Reply-To: How To Sell Your Home in >
> >5-Days<5-dayforum at mailman.howtosellyourhomein5days.com>> >To: How To Sell
>Your Home in > >5-Days<5-dayforum at mailman.howtosellyourhomein5days.com>>
> >Subject: Re: [5-DayForum] Atlanta, GA 5 day sale post mortem> >Date: Tue,
>31 Jul 2007 12:34:00 -0700> >> >I have to ask the question. If a sufficient
>number of responses where > >obtained to the advertizing and if the sale
>was done by the book, then was > >the starting price the fair market value
>for the home?> >> >Tom Keaton> >> >> >> > > From: waldothebear at hotmail.com>
>To: > >5-dayforum at mailman.howtosellyourhomein5days.com> Date: Mon, 30 Jul
>2007 > >23:09:55 -0400> Subject: Re: [5-DayForum] Atlanta, GA 5 day sale
>post > >mortem> > Ah, but Mark wasn't in Atlanta. I still say the biggest
>problem > >in the > Atlanta area is to figure out how and where to
>advertise. So far, > >I haven't > seen a successful 5-day sale in the
>Atlanta area (though, I am > >still > convinced when I am ready, mine will
>be the first :^). I really > >would like > to figure out how to get through
>to the people around here > >exactly what a > 5-day sale is all about. So
>far, everyone who has reported > >trying this in > the Atlanta area has had
>the same 2 problems -> > 1) not > >enough people respond to the ad> 2) even
>if enough respond, the people who > >come to the sale are really only >
>able to afford the starting price.> > > >There has got to be a way to break
>through this.> > Sandy> > > >From: Bill > >Effros <bill at effros.com>>
> >Reply-To: How To Sell Your Home in > > >
> >5-Days<5-dayforum at mailman.howtosellyourhomein5days.com>> >To: How To Sell
> > >Your Home in >
> >5-Days<5-dayforum at mailman.howtosellyourhomein5days.com>> > > >Subject:
>Re: [5-DayForum] Atlanta, GA 5 day sale post mortem> >Date: Mon, > >30 Jul
>2007 14:13:45 -0400> >> >Richard,> >> >Your problem was not using a >
> >magic number (which would have been $49,500) > >and then continuing the >
> >sale without getting 25 responses by Friday night.> >> >Continuing the ad
> > >at this point just confuses matters. People can see that > >you didn't
> > >really do what you said you would do in the ad.> >> >Mark ran an ad the
> > >same weekend as you at $74,500. He got $136,500 after 2 > >hours and 45
> > >minutes of bidding.> >> >Bill Effros> >> >> >> >> >> >Richard Burton >
> >wrote:> >>I had my 5 day sale in Atlanta this past week-end and ran a 5
>day > >ad's in > >>the following:> >> 1. Clayton County Newspaper which
>included a > >local military base > >>paper and Hartsfield Airport employee
>paper> >> 2. > >Atlanta Journal Constitution> >> 3. CraigsList> >> 4.
>ByOwner.com> >> I was > >planning on running a 5 day ad in the AJC however
>I was told the > >>cost > >of the 5 day ad was about $1200 while a 10 day
>ad was $400. I went > >>with > >the 10 day ad which is still running
>through Friday.> >> My ad was the > >typical 5 day sale ad, $69,500 or best
>offer. My home is > >>worth about > >$140,000> >> Most of my responses came
>from the local Clayton County paper > >and > >>Craigslist.> >> I only had
>31 calls and 11 inspections and only six > >bids.> >> Of the 11
>inspections, 4 were from investors looking for a deal. > >All > >>the
>others could only afford a home under $100,000.> >> The 69,500 > >or best
>offer only attracted potential buyers who could only > >>afford > >close to
>$65,000. None present would have been able to afford > >>close to > >what I
>wanted.> >> My round robin ended quickly... two were not home, two >
> >dropped out in > >>the first round when the initial high bid was at
>92,000. > >One raised it to > >>92,500 and the last one dropped out.> >> My
>question > >to the group (and Bill) is:> >> "The 69,500 or best offer" only
>attracted > >people than can afford about > >>69,500. How do you attract
>folks that are > >looking for a higher end > >>property? If I were selling
>a $400,000 home > >and offered it at $200,000 I > >>would think that folks
>interested in a > >400,000 home would not even bother > >>with a 200,000 or
>best offer.> >> > >Your thoughts?> >> Richard ----- Original Message ---->
> >>From: Bill Effros > ><bill at effros.com>> >>To: 5-DayForum >
> ><5-dayforum at mailman.howtosellyourhomein5days.com>> >>Sent: Monday, July
>30, > >2007 10:57:28 AM> >>Subject: [5-DayForum] Magic Numbers and Magic
>Endings> > > >>> >>Many people don't get what I mean by "Magic Numbers".
>Several > >people> >>have offered wording to help. Here's my latest
>attempt--let me > >know if> >>it resonates:> >>> >>First divide the price
>you really think you > >can get at this time by 2> >>(to obtain 50% of what
>you really think you > >can get) (alternatively you> >>can multiply the
>price you really think you > >can get by .5 to obtain the> >>same number,
>if you are happier multiplying > >than dividing.)> >>> >>Either way, you
>wind up with a number that is 50% of > >what you honestly> >>believe you
>can get at this time. There is no danger > >in starting too> >>low. You
>will get more responses with a "too low" > >starting price, but> >>the
>final bid will be as high or higher than you > >would get with a higher>
> >>starting price. If you start "too high" you will > >fail to get 25>
> >>responses by Friday night, and you will have to rerun > >your 5-Day
>Sale> >>starting at a lower number on a subsequent weekend.> >>> > > >>The
>last 5 digits of the starting price should be one of the 4 numbers> > >
> >>shown below -- the "magic endings" as someone has dubbed them.> >>> > >
> >>$X24,500> >>$X49,500> >>$X74,500> >>$X99,500> >>> >>With $X99,500 being
> > >the strongest of the 4.> >>> >>Drop the number you will use in your ad
>to > >one of these 4 "magic endings".> >>> >>If your home is worth less
>than > >$50,000, offer it for $20,000, $15,000,> >>$10,000 or
>$5,000--whichever one > >is 50% of what you think you can really> >>get at
>this time. This is the > >only instance in which you don't use a> >>magic
>ending.> >>> >>Again, there > >is no danger in starting "too low". You will
>get more> >>responses, and at > >least 3 real buyers will show up, ready
>willing and> >>able to pay the > >highest price for your home at this time.
>You do more> >>work when you > >start "too low", and having more real
>buyers will not> >>increase the final > >bid. Your home is still worth only
>so much.> >>> >>Always use a magic > >number with a magic ending. Other
>starting prices> >>can work. Magic > >numbers always work. That's the
>"magic"!> >>> >>Bill Effros> >>> >>> > >
> >>_______________________________________________> >>5-DayForum mailing >
> >list> >>5-DayForum at mailman.howtosellyourhomein5days.com> > >
> >>http://mailman.howtosellyourhomein5days.com/mailman/listinfo.cgi/5-dayforum>
> > > >>> > >
> >>------------------------------------------------------------------------>
> > > >>> >>_______________________________________________> >>5-DayForum >
> >mailing list> >>5-DayForum at mailman.howtosellyourhomein5days.com> > >
> >>http://mailman.howtosellyourhomein5days.com/mailman/listinfo.cgi/5-dayforum>
> > > >>> > > >_______________________________________________> >5-DayForum
> > >mailing list> >5-DayForum at mailman.howtosellyourhomein5days.com> > >
> >http://mailman.howtosellyourhomein5days.com/mailman/listinfo.cgi/5-dayforum>
> > > > _________________________________________________________________> >
> >http://liveearth.msn.com> > >
> >_______________________________________________> 5-DayForum mailing list>
> > >5-DayForum at mailman.howtosellyourhomein5days.com> >
> >http://mailman.howtosellyourhomein5days.com/mailman/listinfo.cgi/5-dayforum>
> >_________________________________________________________________>
> >Missed the show? Watch videos of the Live Earth Concert on MSN.>
> >http://liveearth.msn.com> > >
> >_______________________________________________> >5-DayForum mailing
>list> >5-DayForum at mailman.howtosellyourhomein5days.com>
> >http://mailman.howtosellyourhomein5days.com/mailman/listinfo.cgi/5-dayforum>
> > _________________________________________________________________>
>http://newlivehotmail.com>
>_________________________________________________________________
>Missed the show? Watch videos of the Live Earth Concert on MSN.
>http://liveearth.msn.com
>_______________________________________________
>5-DayForum mailing list
>5-DayForum at mailman.howtosellyourhomein5days.com
>http://mailman.howtosellyourhomein5days.com/mailman/listinfo.cgi/5-dayforum
_________________________________________________________________
http://imagine-windowslive.com/hotmail/?locale=en-us&ocid=TXT_TAGHM_migration_HM_mini_pcmag_0507
-------------- next part --------------
An HTML attachment was scrubbed...
URL: http://mailman.howtosellyourhomein5days.com/pipermail/5-dayforum/attachments/20070801/fb50e7fb/attachment.html
More information about the 5-DayForum
mailing list