Posted by ray@lcorn on December 14, 1999 at 24:30:49:
If I could butt in here… I was just cleaning out a book case in my office this afternoon and ran across a copy of the Effros book “How to Sell a Home in 5 Days”. I bought it several years ago when I had an inventory of single family houses I wanted to sell. I never used the method because the market was very good, but I remember I lent the book to a good friend and he used it to sell a piece of property he had in another state. Turned out he wound up selling it to a guy that had made him an offer the month before, and the guy paid about $10T more than the original offer.
The method is something along the lines of a silent auction. Rather than using outcry bids, the seller calls registered buyers after an open house period. He (the author) has suggestions for how to handle a number of details, and though my friend only used about half of the suggestions in the book, he was pleased with the results. He is also still a good friend of mine since he returned the book!
I think part of the value of the method may be that it helps take some of the emotion out of the process for the seller, and puts more of it in for the prospective buyers. That and it also eliminates procrastination on both sides!