[5-DayForum] Why not use a realtor?

[Bill Effros]

Frank,

When I first wrote "How to Sell Your Home in 5-Days" I assumed that a 
lower selling price would be balanced out by not paying a broker's fee, 
notwithstanding the fact that I always got more than brokers could get 
for every property I personally sold.

The thing that has most surprised me about the 5-Day Method is the calls 
I started to receive from brokers who invariably said the same thing "If 
you ever repeat this I will deny having said it, but I have done comps 
in my area comparing the selling prices of homes sold by FSBOs, brokers, 
and people using the 5-Day Method, and people using the 5-Day Method get 
a higher selling price for their homes than people using any other 
method--I was so sure this was a fluke that I ran comps for another area 
with the same results...just thought you'd like to know..."

People who properly run 5-Day Sales invariably get prices at the high 
end of the current market.  Could someone get more on a given day using 
a different method? -- Sure.  But 5-Day Sellers who properly run their 
sales can be quite confident that they sold at the high end of the 
current fair market range on the day they picked to sell their homes, 
and the selling costs associated with other methods almost always more 
than offset any higher prices sometimes obtained.

5-Day Sales properly run -- no MLS, no signs, no flyers, no web sites -- 
invariably yield higher prices in the current market.  Try it.  Stick to 
the program--don't reinvent the wheel and then report my wheel doesn't 
work because your reinvented wheel didn't work. 

The 5-Day Method is like shopping at Wal-Mart -- You may not always get 
the best possible price, but you know you will always get a very good price.

Bill Effros

PS -- Many brokers now offer the 5-Day Method, and many individuals ask 
brokers to employ the 5-Day Method on their behalf.





FKSYBARITE at cs.com wrote:
> I have been an investor for 25 years, buying and selling houses in Las 
> Vegas.  I try to sell them on my own and also list them with a realtor 
> on MLS.  The realtor sells them 4 out of 5 times.  The INTERESTING 
> part is that a realtor will invariably get $10,000.00 to $15,000.00 
> more than I can sell on my own, because of the MLS network. So, on a 
> $250,000 to $300,000 sale, that equates to a 4% commission, which is 
> what I pay (most realtors will list at 4% nowadays).  It's basically 
> the same, either way, which is ironic, because the person who bought 
> with the realtor will pay more, but SE LA VIE.  So, my QUESTION is: 
> Why not have a 5 day sale with your realtor?  Your realtor can list it 
> on MLS starting Wednesday and ending Sunday, the same, and follow the 
> same rules all the way though, listing at 50%.  It doesn't matter if 
> another realtor brings a client, because its all worked out in the 4% 
> commission.  Wouldn't you end up with the same result, and not even 
> have to do it yourself?  That MLS is very powerful in reaching people 
> here in Las Vegas.
> Frank
>
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