Scam: How to Sell Your House in 5 Days-Update
Back in November, I came across an article that talked about how this writer saw an ad on Craig’s list for a property that was 50% below the market price for the neighborhood. It had him intrigued. He proceeded to check out the upcoming open house only to find out that it appeared to be some sort of bait and switch program going on with an unlicensed agent to sell this house.
I originally called this How to Sell Your House in 5 Days a Scam. Recently, I was doing some geek work on this blog and noticed that I get many searches from Google about How to Sell Your Home in 5 Days. It got me wondering why this post off all my posts would be popular, especially 8 months later.
It turns out there is actually a book written on how to sell your home in five days! It outlines how you advertise your house for 50% of the desired price, have an open house, and then start an auction and bidding war to get the sale price
up to where you want it. All in five days. The writer claims he has sold 150,000 houses this way (yeah, right). Amazing.
Upon further review, I would not necessarily call this program a scam, but it is definitely on the strange side of real estate sales. I imagine it could work in the right neighborhood, with the right owner pushing the process, in the right market, with the right house, at the right price point, but I can’t imagine it working more than 10% of the time. I suppose it ranks up there with hiring a clown to entertain the children during an open house, so the parent can tour the house in peace.
Have you read every book on investment properties? Have you spent hundreds of dollars on investment real estate seminars, but still you have no started? Give Scott a call.
The gullability of some people is unbelieveable. Just because something works once or even twice does not mean it will work all the time or with various different properties.
I actually read this book about 4 years ago, and sat down with the main national marketing guy and had some drinks locally. He is a great presenter, I think this concept worked great a couple of years ago, but not in this market. On the surface it looks simple, but they have an exact way of doing things. Personally my only main objection was the bait in switch, I didn’t like to tell someone a low price in which I would not sell under any condition, other than that, the presenter was a nice person, and years ago I guess it worked well. I also know some people locally that focused on this full time, so they believe it works.