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Velocity and Selling Your House Quickly

selling-house-quicklySelling your house quickly has a lot more to do with the concept of velocity than you might think. The problem with the traditional real estate industry is that it remains determined to work independent of velocity, or momentum, if you like that word better. Consider a typical scenario. Real Estate Agent X notices a new property listing has been posted to the MLS. He immediately thinks of five clients he knows who are in the market for something similar, so he calls each one and suggests they hit the open house the following Sunday.

Maybe one or two of the people Agent X calls are excited and actually show up for the open house, but the odds are high that they don’t because there is no motivation for them to do so. Sure they want a house but they know how the market works. It’s not going anywhere. After all, if they wait a while, the price will almost certainly drop. Instead of the open house, Agent X’s clients go to baseball games, picnics, or stay home and do yard work.

Now let’s turn that paradigm on its ear. When Agent X notices that a new MLS listing is hosted by Open Door Auctions, he leaves a slightly different message. Something along this line. “There is a house you should look at and it is selling THIS weekend after the open house.” He knows he must convey more urgency because our auction process is designed to sell your house fast. There will be no more than two weeks from initial listing to sale.

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If a buyer misses the window, there’s a good chance the property will be gone.

See how we take advantage of momentum to get buyers moving through the house? We do this by using the enormous reach, power, and reputation of the MLS to bump your house back up to the top of the pile by reducing the price every few days over the two week period. Don’t worry that it’s going to get too low. At this point, you shouldn’t even be thinking about what the listing price is at any particular moment in time. The goal right now is to generate interest over a price range and put an exclamation point on that interest by letting everyone know the upcoming date and time of the auction.

When it comes right down to it, you don’t have to accept any offer if you aren’t comfortable doing so. Our goal is to jumpstart the process by creating a stream of interested buyers. This is the velocity you’re going to need to sell your house quickly in what continues to be a soft real estate market.

The Open Door Auctions Team

 

 

 

 

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