[5-DayForum] 5 day sale in Ocean County NJ

[Bill Effros]

Martha,

The real question is whether YOU think the 3 real buyers are in there, 
and if you have enough people to help you so that if you are mobbed with 
people you can find the 3 real buyers among all the tire-kickers.

The method you have selected has worked for others, but it generates a 
lot of extra telephone calls, without necessarily generating a lot of 
extra visitors or buyers.  Sometimes it does, sometimes it doesn't.

The market for homes is bad, the market for second homes is worse, and 
the market for flips is almost impossible.

Structure your sale so you have somewhere to go.  By that I mean don't 
reject the high bid even if it is very disappointing.  It is almost 
surely the best you can do right now.  Even if you can't take the offer, 
see if you can work with one of the 3 real buyers to structure a deal 
that allows you to get rid of your home now.

In your ad you say that you will sell the home on Sunday night to the 
high bidder, you do not say that you will necessarily sell at the bid 
price.  This method will allow you to find the 3 high bidders in the 
market at the current time.  In good times you take the high bid, and 
that's the end of it.  That's the best you can do.

In these times you may have to negotiate with banks (who are the real 
owners of homes in most cases) and bidders to find a deal that will 
allow you to get rid of an investment that has become a liability.

Bill Effros

Martha wrote:
> Ah me! The extended advertising to occur during the busiest weekend in my 
> vacation-prominent community I believe has paid off. It's Monday, Labor Day, 
> and I have counted 93 replies to the advertising.
>
> I know that I bent the rules just a tad in extending the advertising period, 
> but I did want to hit the busy weekend since my area is comprised of a lot 
> of "second vacation homes" and I wanted to make sure I had the ads in while 
> everyone was down the "Jersey Shore" enjoying the weather and saying to 
> themselves, "Gee, wouldn't it be nice if we had a second home here so we can 
> come back whenever we want?"
>
> Well, that was my idea, anyway. After this weekend, all those people go back 
> home and the area dies.
>
> So, 93 calls and the phone is still ringing....sale set for this weekend.
>
> Think I have my 3 buyers in there?
>
> Martha 
>
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