Wall Street Journal Radio Look at 5 Day
By: George Cappony, National 5 Day Consultant
With the media continuing to follow the progress of the current real estate buyer's market, the Wall Street Journal This Morning radio show recently did a short breakdown on how to sell your home with home auctions.
I had the opportunity to speak briefly with Gordon Deal on how the 5 Day Method has the home auction flavor, but differs in the traditional "out cry" auction.
Included in these differences is the fact that the goal is the same for buyer and seller in a 5 Day Sale - to obtain fair market value for the home. As I have mentioned in previous articles, this is why a 5 Day Sale works so well for a buyer's market. The appeal is there to draw the buyers in, and then fair market value is naturally determined by the process.
Another dramatic difference is the whole attitude between a 5 Day Sale Round Robin, which is a retail strategy and is designed for a single family home, vs. the "out cry" auction, which is widely regarded as a wholesale strategy to liquidate multiple properties in distress.
You can hear Gordon and I discuss how a level of comfort and the absence of high pressure is really what sets the 5 Day Method apart. Your buyers will be at ease, because they are in the comfort of their own home, discussing their next bid, as opposed to trying to shout it out to an auctioneer, while in a standing-room-only crowd on your front lawn.
To listen to the full interview on the Wall Street Journal This Morning, click here.
