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How to Sell Your Home in 5 Days: Third Edition Paperback – March 1, 2007
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From the Back Cover
It's time to change the way you think about selling your home. How to Sell Your Home in 5 Days is an innovative alternative that makes the market work for you, whether you're selling a house, a condominium, or a co-op apartment, whether in a seller's market or a buyer's market. Follow the 5-Day Method and take charge of your real estate future—Sell your home in 5 days, Get the best possible price, Save thousands of dollars in broker's fees and commissions, and Spare yourself months—if not years—of costly aggravation, disruption, and disappointment.
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Top Customer Reviews
The book gives 2 of the most probable reasons for why the system did not result in a sale:
1. Initial price too high. (To fully understand this you have to read the book). If this is the sole problem, I am in some trouble!
2.Advertised in the wrong places. It seems like this should not be a problem in the internet age, but it is. The 2nd edition recommended advertising
in a local paper and a regional one. This is outdated advice because newspapers are apparently no longer used by buyers to locate properties. Just look in the RE classifieds. Very few ads compared to just a few short years ago. This, the 3rd edition, updates the advice to include the internet.
Problem is, how do you figure out WHERE to advertise on the internet. My property is in a rural area. I put the ad on a number of sites. Absolutely no response. Put it in the local paper and got 1 response the first week. Had it on Craigslist(!) both weeks which resulted in 5 calls the first week and 3 the second, and the price was $10,000.00 less the 2nd week!
From what I can tell, where you advertise is critical to your success with this method. The advice given in the book was not adequate to analyze and solve this problem, however. For all I know,it may be less of an issue in the city, but I cannot tell one way or another.
Another issue: The book claims to have an internet blog set up for readers to communicate with one another on successes, failures, do's, don'ts, etc. Sign up on their web-site and voila: NOTHING HAPPENS. The web-site appears to have been abandoned, defunct, kaput , whatever .
WELL WORTH READING BUT CAVEAT EMPTOR! Further research may be necessary to make this work!
We sold our unique house at the depth of the housing crisis in 2008, and received full appraisal for it, in cash that closed the following week. Of course it didn't appraise for what I would have liked (and what it probably would have about 2004) but when we looked around people told us their houses has been on the market a year or more. We sold in just one weekend (once we'd fixed it up for sale), and then I had 5 more people who bid just a little under the top bidder in case that one hadn't come through. We saved a lot of commission.
As a successful, professional real estate investor for many years, I buy and sell homes and other properties. Sometimes I sell them directly and other times I use a real estate agent. I have also spent tens of thousdands of dollars attending real estate investment seminars. The most effective ones actually taught Mr. Effros' process, with minor variations, as their own proprietary approach to selling homes.
Recently, I was asked by several people whose property didn't qualify for my investing program what they could do, since I was not able to buy their home. Before reading this book I would have had to shrug and wish them luck. Now, I almost invariably recommend that they buy this book, read it and implement it. Not every one of them will sell their home. Some will, and all of them will realize what is the actual, current market value of their home. In many cases, I know that will bring them back to me for a more realistic discussion of their situation.
After getting to the source of this selling approach, I can guarantee that from now on I will be using a variation of this method almost exclusively to sell all my properties.