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Comment on “It’s just like a normal auction, except… by Deborah Burns
May 31st, 2008 Uncategorized

Hi Justin,

I think the value of starting at a market price (that you have determined) like you are is very interesting, and a good idea AS LONG as you get lots and lots of exposure.

This means that you have to launch it on the market to as large a buyer pool as possible (listed on the mls nets you the largest possible exposure…baring the evening news!), making sure that plenty of buyers will come early on to see you house in person, AND that they know to watch the weekly price reductions (by signing up for your emails) so that when it’s a price they would pay, they make an offer ASAP, knowing that they may be competing with other buyers at that new price.

You have very good online marketing and photos, and are offering to work with agents with buyers, so it’s just a matter of getting the widest exposure possible to find the buyer who will make the best offer.

I think you are doing a very good job! I think the novelty of your idea, your pre-market preparation to get your property ready to compete on the market will get you some good results. However, I think that will while this will work for you, it’s probably due to the fact that you will have gotten much more exposure (as a novelty) than others who may do in the future.

The fact that you are willing to let the public know that you will be dropping the price by a regular amount, on a schedule is the KEY thing on top of having made sure the property looks appealing. Even though sellers and their agents do price reductions on listings, no agent (that I know of) has gotten their sellers to market that they will be reducing the listing price by a regular amount on a weekly schedule…that’s your innovative edge!

Good luck and keep us posted!


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