[5-DayForum] Ad question

Fri Jun 22 00:15:28 EDT 2007

I want to be taken off the forum mailing list.  THANKS.

>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] Ad question
>Date: Thu, 21 Jun 2007 09:44:00 -0400
>
>Sandy,
>
>Regardless of whatever I have ever said previously, you've got it right, 
>and we've all got to repost this information whenever it comes up on the 
>Forum.
>
>The amount in the ad must attract attention, and not seem like either a 
>misprint or a scam.
>
>"or Best Offer" -- those exact words -- eliminates the "Scam?" question.
>
>The 4 magic number endings telegraph that this is a 5-Day Sale, and that 
>the seller is hoping for twice as much as the starting price stated in the 
>ad, but will take the most offered in an honestly conducted Round Robin on 
>Sunday night.  If they have never heard of a 5-Day Sale, they will still 
>call to find out what is going on.  At that point you can deconstruct your 
>starting price so it makes perfect sense to anyone.
>
>Bill Effros
>
>
>
>S M wrote:
>>Hi Tom,
>>
>>I hesitated to answer at first because I don't actually have a copy of the 
>>book to verify this before I answer.  So, if someone else can confirm 
>>this, please do.  But I know exactly your confusion and when I read the 
>>book, it is the same difference I saw between the book and the forum.
>>
>>I'm not sure if there is actually an omission in the third version of the 
>>book, or if I just didn't see this somehow - but there are really only 4 
>>magic numbers.
>>
>>24,500
>>49,500
>>74,500 and
>>99,500
>>
>>So, while the book says something to the effect of: "take what you want to 
>>get, divide by 2, and subtract $500",
>>what the book should say would be something to the effect of: "take what 
>>you think you might get for your house, divide by 2, and then drop the 
>>price to where it ends in one of the 4 numbers I listed above".
>>
>>So, for your specific example, you would take the $70,000 that you think 
>>you will get, divide by 2 which will be $35,000 and then drop it to a 
>>number ending in one of the 4 "magic" numbers - which will drop your price 
>>to $24,500.
>>
>>For a house that you think you might get $380,000 for, you would divide by 
>>2 which is $190,000 and then drop to the "magic" number of $174,500.
>>
>>I hope this makes sense.  I borrowed the book to read it, and when I get 
>>the book back, I will check again, but I really think it is wrong in the 
>>book - as opposed to what Bill is teaching us here on the forum.
>>
>>Sandy
>>
>>
>>>From: "Tom Wilson" <tomwilson64 at tx.rr.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] Ad question
>>>Date: Wed, 20 Jun 2007 11:06:50 -0500
>>>
>>>I don't mind using a lower number like $24,500 because it's only a hook 
>>>to
>>>get the attention of those who read the ad/flyer, but I wondered if I
>>>mis-read the book when it said to think of the most you think your house 
>>>can
>>>bring, take half of that and subtract $500.  If I wanted to bring calls 
>>>out
>>>of the woodwork I could just say $500 or best offer so I assume the 
>>>method
>>>is to hit the right sweet spot of not too few or not too many calls, but 
>>>to
>>>find the three real buyers and make sure they are part of the sale.  If I
>>>think I can get $70,000 then I thought $34,500 would be my number.  Again
>>>almost any number low enough works, but I wondered what method you used 
>>>to
>>>make your suggestion of $24,500 ?
>>>
>>>
>>>
>>>Tom
>>>
>>>
>>>
>>>From: Bill Effros [mailto:bill at effros.com]
>>>Sent: Wednesday, June 20, 2007 10:13 AM
>>>To: How To Sell Your Home in 5-Days
>>>Subject: Re: [5-DayForum] Ad question
>>>
>>>
>>>
>>>Tom,
>>>
>>>Did you look at the Magic Number response?
>>>
>>>People are going the wrong way on Magic Numbers.  I will respond to 
>>>earlier
>>>posts at greater length on this topic.
>>>
>>>Bill Effros
>>>
>>>$24,500 is your number.  Your magic number would be the same in any 
>>>market.
>>>
>>>
>>>
>>>
>>>Tom Wilson wrote:
>>>
>>>Using my top number of 70,000 to 80,000 and the 50% minus $500 rule 
>>>wouldn't
>>>this be $39,500 or $34,500?  You mentioned using $24,500.  Is this a
>>>strategy in a down market to ensure the most calls?  I spoke to someone 
>>>in
>>>this area who had one two weekends ago and they said they would have 
>>>raised
>>>their magic number which was already at 50% of the most they thought they
>>>could get because they were so flooded with calls and they had a line in
>>>front of the house Sunday afternoon.
>>>
>>>
>>>
>>>So I was just curious why you suggested $24,500 in this case when your 
>>>book
>>>uses 50% minus $500?
>>>
>>>
>>>
>>>Thanks!
>>>
>>>
>>>
>>>Tom
>>>
>>>
>>>
>>>From: Bill Effros [mailto:bill at effros.com]
>>>Sent: Wednesday, June 20, 2007 9:13 AM
>>>To: How To Sell Your Home in 5-Days
>>>Subject: Re: [5-DayForum] Ad question
>>>
>>>
>>>
>>>Tom,
>>>
>>>There is no reason to ever use a display ad when running a 5-Day Sale.
>>>Everything you need you can put into the $350 ad.  You don't even need a
>>>border, just a low enough starting price to attract 25 responses by 
>>>Friday
>>>night.  Start your home at $24,500.  Don't be upset if people think you 
>>>must
>>>be some sort of deadbeat, or desperate.
>>>
>>>They will call in huge numbers.  They will come out to see your home, and 
>>>it
>>>will be much nicer than they were expecting.  They will bid fair money.  
>>>You
>>>will sell your home for the most you can get at the present time.
>>>
>>>As I mentioned previously, I've started homes at this level, and the
>>>response is overwhelming.
>>>
>>>Bill Effros
>>>
>>>Tom Wilson wrote:
>>>
>>>I called my local newspaper's classified section today with a weekday
>>>circulation of over 800,000 not counting internet.  I e-mailed them a 
>>>sample
>>>of my ad and they said it would have to run as a "display" ad.  They said
>>>their display ad minimum is 4 square inches and the prices is over 
>>>$1,700.
>>>
>>>
>>>
>>>I can do a completely functional in-column ad  (a 1-inch column) in a
>>>section heading specified for my section of my city with a border, 
>>>bolding,
>>>capitilzation and all necessary info for $350.
>>>
>>>
>>>
>>>My home is going to sell for $70,000 to $80,000 at the most so is the 
>>>$1,700
>>>display ad really worth it?  I want to work the system exactly as you say
>>>to, but my newspaper is not giving me only those two extremes of options. 
>>>  I
>>>can paste a display sample to a website for you to view and compare if 
>>>that
>>>would help.
>>>
>>>
>>>
>>>Tom
>>>
>>>
>>>
>>>
>>>
>>>
>>>   _____
>>>
>>>
>>>
>>>
>>>
>>>
>>>
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>>>
>>>
>>>
>>>
>>>
>>>
>>>   _____
>>>
>>>
>>>
>>>
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>>>
>>>
>>
>>
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>>
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