[5-DayForum] Average Sales
Rosemarie and Fred Belcher
rosemarie-fred at mindspring.com
Fri Oct 26 05:49:31 EDT 2007
As I read all these comments, it seems to me that the outcome may well be related to the mindset of the seller. If you firmly believe that something is not going to work, then chances are you are right. Your attitude will affect the whole process. So if you think you are going to attract "bottom feeders" as someone put it, then that's just what will happen. If you think you are attracting buyers who will offer a fair price for your house, that is what will happen. Just a theory!
Rosemarie
----- Original Message -----
From: NorCalBuyerBroker.Com
To: How To Sell Your Home in 5-Days
Sent: Thursday, October 25, 2007 9:49 PM
Subject: Re: [5-DayForum] Average Sales
My personal opinion is that even though 50% may attract the wrong buyer it creates energy, excitment and thus a competitiveness. The real buyers have no clue who the non buyers are, therefore having more people come throgh your house creates a sense of urgency for someone to act. It's a psychological advantage to have as many people as possible walk through your door.
Think of the last time you drove down a street and saw a bunch of cars. Did the thoughts what's going on there come to your mind?
----- Original Message -----
From: Sandra Diggs
To: How To Sell Your Home in 5-Days
Sent: Wednesday, October 24, 2007 5:08 PM
Subject: Re: [5-DayForum] Average Sales
I'm a fairly intelligent individual with a modicum of knowledge about the market, so I had considered many of the factors you enumerated below. I still don't believe that I am shifting responsibility for my dismal results, as you insist.
**I purchased my house at a below "comps" price 5 years ago;
**I borrowed within my range, and at a nice rate and a realistic one;
**My house has appreciated tremendously over the last 3 years for a variety of discernable reasons.
**I had 25 + responses by Friday and more Sat. & Sun. and, on a good weekend.
STILL, it is my firm belief that 1/2 price attracted the wrong caliber of buyer. If I ever do this again, I will modify it to advertise at a higher price. ("5-day Lite," or more appropriately, "Heavy.")
Even with my layman's sense, I could still figure out that the market concept was not working in my case. I could live with less than I had hoped for (because the market is bad) but I would never consider letting someone steal my home for little more than 1/2 price.
Bill Effros <bill at effros.com> wrote:
Judith,
As far as I'm concerned, the concept of "failed sales" is an attempt to shift the responsibility for lower than expected home prices from the owner of the home. Nobody wants to admit they paid too much for their home, or that they borrowed more than they could pay back, or that they thought home prices would always increase by double digit percentages, year after year.
The 5-Day Home Selling Method is nothing more than a technique for selling homes, just as the stock market is a technique for selling stock.
Today, the "Dow-Jones" was down 200 points for much of the day. So, most people who sold stock earlier in the day got far less compared to people who sold at the end of the day. For the exact same stock. But nobody says the market "failed". "The Market is Up!" "The Market is Down!" That's the way markets work.
The housing market works the same way. Right now the market is "Down". People all over the country are getting less for their homes than they had hoped, no matter what method they employ to sell their homes. This is not a failure of the market, nor is it a failure of either the traditional home selling method, or the 5-Day Method. This is the way free markets work, and if you try to sell your home in the near term you are likely to get less for it than you once thought you would be able to get for it at this time.
There is no assurance the market will go up, in the long term, or ever. That's the way it is with markets.
The 5-Day Method will provide you with the best possible buyers available in the current market if you employ the method properly. It always does this, just as your stock broker can always find buyers for your stock.
When I employ the 5-Day Method it "works" every time. Every time! I play fair, I have realistic expectations, I carefully choose the weekend for my sale, I advertise widely, I start low, and in the extremely unlikely event that I fail to get many more than 25 calls by Friday night, I postpone my sale to figure out what went wrong. Then I adjust and run the sale again the following weekend. I always take the high offer. Yes, always -- and that is key to getting the highest prices.
Sellers with unrealistic expectations get prices they can't "live" with, whether they use the 5-Day Method, the traditional method, or any other method. But they don't sell their homes, no matter what they do. No home selling method claims to change the market. These unrealistic sellers either wait until prices go "up" (which they almost never do if the expectations were unrealistic in the first place) or they don't sell their homes until they change their expectations or the market changes radically.
Yes, it is discouraging. But that's the way it is right now, and the sooner home sellers reconcile themselves to the new realities, the sooner they will sell their homes, and the sooner the market can begin to sort itself out.
There is likely to be a lot more discouraging email before you see a whole lot of encouraging email. Most market participants don't feel the market has hit bottom yet. People who wait 6 months to sell their homes will likely put less into their pockets than they would if they sold their homes right now. The market seems still to be going down.
Sell your home now, using the 5-Day Method, if you are prepared to take the current market value. Wait if you think things will improve. Don't run a 5-Day Sale just to learn the market is down. You can see that just by following this forum for a few weeks.
Bill Effros
Judith Ryder wrote:
Bill, I've been reading the mail on failed sales. And changing the advertised price. Do you have any idea how often the Five Day sytem works? That is - with a realistic price the seller can list with? Last weekend seemed to be good scattered around the country. But before that and now I've been reading discouraging mail.
Judith
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