I was reading a piece about a fellow who has a formula he says causes most of his listings to sell in five days.
Here it is:
Day 1 List the house
Day 2 Do not accept any offers. Create fear of loss and higher bids
Day 3 Continue to not accept offers
Day 4 Host open house and receive offers
Day 5 Sold!
The agent says that his experience is that the formula creates higher bids, often for more than the listing price.
I've seen some of this going on in the Dallas market.
I've also seen a number of those "successful bidders'" contracts fall through leaving the listing agent stranded as she tries to resurrect the energy created by the 5 day plan.
What are your experiences and thoughts about this formula?
Keller Williams Dallas Premier
Direct: 214 503-8563