Product Description

Based on the one basic truth of free enterprise--that your home is worth exactly what the highest bidder will pay for it--this book will enable every seller to make more money in less time with no risk. The step-by-step plan shows exactly how to price your home, write an effective ad, use buyer psychology, and conduct round-robin bidding. But now in the second edition are: more in-depth descriptions of different types of buyers; additional steps to take to prepare a home for sale; a new "What If" trouble-shooting guide; detailed instructions for conducting an open house; a new chapter on closing sales; a new chapter for buyers bidding on 5-day sales; a chapter debunking home-selling myths, such as why the season doesn't matter; and an updated chapter on transferring ownership.

Product Details

• Amazon Sales Rank: #586761 in Books
• Published on: 1998-04-01
• Original language: English
• Number of items: 1
• Binding: Paperback
• 260 pages

Amazon.com Review
Homeowners who are determined to sell their houses without agents, but who have no time to waste, may want to try the unusual approach detailed in How to Sell Your Home in 5 Days. After many months of failing to sell his house through an agent, author Bill Effros quickly and successfully auctioned it off. He since has sold several houses that way and helped others do the same. This involves placing Wednesday newspaper ads announcing that the home will be shown on the weekend and sold to the highest bidder on Sunday night. Daring as this sounds, Effros has a technique for handling the round robin bidding to elicit a bona fide offer at fair market value. Not for everyone, maybe, but a fascinating lesson in the mechanics and psychology of making an efficient market for a house or anything else. --Barry Mitzman

From the Back Cover
Turning the conventional on its head, herefinallyis an innovative, practical, foolproof alternative that makes the market work for you, whether you're trying to sell a house, a condominium, or a co-op apartment. Follow the 5-Day Method and you can take charge of your real estate future and Sell your home in 5 days, Get the best possible price, Save thousands of dollars in broker's fees and commissions, and Spare yourself monthsif not yearsof aggravation, disruption, and disappointment.

THE METHOD

Starting with the moment you've decided to put your property on the market, How to Sell Your Home in 5 Days gives you unequivocally clear, step-by-step instructions in key areas such as:

Pricing (Pre-sale)--how to use "magic" numbers and price points to reach a large pool of potential buyers

Preparation (Pre-sale)--what to fix, what not to fix, tests, inspections, and more

The Ad (Wednesday)--how to write and place a classified ad that will change your life

The Phone (Wednesday-Friday)--tempting buyers, keeping a log, and the Rule of 25

Open House (Saturday & Sunday)--final touches, informational handouts, bidding, greeters, and the closer

The Close (Sunday Night)--how to conduct a simple round-robin and reach your best deal exactly 5 days after your ad appears

About the Author
Bill Effros is a computer consultant and president of Personal Computer Services. He developed the 5-day Method after his realtor advised him to run a desperation sale for his quarter-million-dollar Connecticut home. (He politely thanked the realtor and sold the home himself for $271,500).

Customer Reviews

Method works with a little updating
I sold my San Francisco condo using this method at market price.
I netted $30-$40k more than if I were to have sold it using the conventional method paying a 5-6% broker commision. Here are the updates I would suggest:

1. use a website service - George Cappony's 5-daysale.com does a great job. The website service should include a way to track the number of hits.
2. If you use a website, expect fewer calls (most people I talked to said they got 5-10). The website does the work for you, and you don't have to be at home to answer calls.
3. Use a minimum undisclosed reserve price to protect yourself. This should be what you think is market price minus the 6% commission you would normally pay. Then make the listing price REALLY low. If people don't say your price is ridiculous, then drop it even more.
4. Place your newspaper ad for 8 days instead of 5 days. Most people only read the Sunday paper, so if you start the previous Sunday, you will get maximum marketing exposure.

I Sold My House in Five Days
It isn't every day that a book can save your hide, or change your life, but William G. Effros' "How to Sell Your Home in Five Days" did both for me. My wife and I owned a home in Maine. We needed to move to Massachusetts for work and were unemployed. Our house had been on the market for NINE MONTHS with brokers and no real offers. After reading the book, we followed the directions to the letter, and did what our lawyer said was impossible: Sold our house, and at a fair-market price. After the sale the lawyer could not believe how well the it had worked, and the price we got for our house. He graciously admitted that he had been wrong, and said that he had never seen anything like it. We must be geniuses. I told him to read the book. IT WORKS!!! If anyone has any question about how to do it you can call me (Tim Hunter) at (413) 528-7904 or freesongs@aol.co

Original, unique, interesting and profitable
We bought and read the Effros book, it is unique. I have read probably 200 real estate books and his 5 day method is different and effective. You have to get over the mental block of starting off low in your asking price. We modified the technique to serve our purposes. We employed a MAI (Member of Appraisal Institute) appraisal done on the property. After physically preparing the house by painting, cleaning, and some new flooring, ads were placed in the newspaper. We received offers above asking price and settled within 30 days. Everybody was happy. We have William Effros to thank for the unique idea, and ispiration of his book for our quick sale above asking price. Thank you, sir.