[5-DayForum] 5-day sale in Charlotte

[Galina Grechka]

Bill,
I think that the reason I got many calls and few visits is because I placed my ad on a lot of web sites, including pictures of my home. So the calls I got were the result of the first impression from people who were looking at nice home for unbelievable low price. They were able to research listing prices for homes in my area and get almost all information they need before coming for inspection. Maybe they realize that my home is much more expensive than the price they see on my ad. Maybe I gave them too much information. I told them that it's not foreclosure, it's not financed by owner, it's just an auction and I will consider any bid higher than $99,500. But in any case this should not affect a real buyer. It should only attract a real buyer and filter a real buyer from somebody looking for a bargain. 
I had only 4 parties yesterday but they all were serious buyers. 
We'll see how many visitors I get today and I'll update forum before Round-Robin.
 
Galina

----- Original Message ----
From: Bill Effros <bill at effros.com>
To: How To Sell Your Home in 5-Days <5-dayforum at mailman.howtosellyourhomein5days.com>
Sent: Sunday, November 11, 2007 10:50:35 AM
Subject: Re: [5-DayForum] 5-day sale in Charlotte

Galina,

You may sell your home this way, but this is not the way the 5-Day Method works.

The whole point of the 5-Day Method is that there is no trick to attracting 25 responses between Wednesday and Friday from people actually in the market for a home if you offer the home for 50% of what it's worth or best offer.  There are always 25 people who will respond to this offer, if you have a realistic understanding of the current value of your home, and you offer the home in the right places.

You received 40 responses by Friday night, but you started early, and most of the people who responded and said they would inspect your home did not actually show up on the first day of your Inspection.  This is not a good sign, and implies that the responses you received were not from targeted buyers, and you must be concerned that the 3 "real buyers," the ones prepared to the pay the most for your home at this time, may not participate in your Round-Robin.

This call from the Dominican Republic fits that pattern.  This buyer is not a "real buyer" in my terms.  Real Buyers will outbid these people every time, unless they believe this buyer is a "phantom", in which case, even if the buyer is a real person, the deal is unlikely to be completed at the bid level if the buyers discover they have bid more than anyone else in Charlotte will pay for your home.

Bill Effros 

Galina Grechka wrote: 
Saturday evening I got a call from Dominican Republic . Lady told me that they are in military. Her husband is working for US embassy and they are moving to Charlotte . They are flying to Charlotte Friday November 16. They like my home a lot, but there are no ways for them personally come for inspection. According to my rules you are allowed to bid if you inspected my home or have representative inspected my home on behalf of you. I asked if they have somebody in Charlotte who can inspect home on behalf of them. They told that nobody and begged me to allow them to bid in this exceptional situation. I decided that formally I or my family member can represent them and informally it's really looks like exception  So I allowed them to bid and asked to call me tomorrow before Round-Robin starts to place initial bid. Soon I got e-mail from her husband where he again expressed their big interest in purchasing my home, asked to place initial bid $120,000 and
 confirmed that they are going to call Sunday 7:30 PM to advance their initial bid before Round-Robin starts.

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