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ODA 5 – Home Auctions Not Just for Distressed Properties

ODA 5 - Home Auctions Not Just for Distressed Properties
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If you think house auctions are only for the distressed, think again. And if the regular output of product from names like high-end auctioneers Sotheby’s and Christie’s doesn’t convince you, consider that historical auctions have been documented from as early as 500 B.C. (long before Mr. Obama and the foreclosure crisis appeared on the world scene). Perhaps the biggest auction in history occurred in 193 A.D. when the Praetorian Guard, personal bodyguards to the emperor, put the entire Roman Empire up for sale. Cheeky. Very cheeky. While Open Door Auctions has no offers from clients intending to sell an entire nation, we would like to address an issue of confusion that seems to have taken hold in the minds of some...

The Power of Velocity

Why Speed Counts When Selling Your Inventory

Why Speed Counts When Selling Your Inventory
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Velocity and Selling Your House Quickly

selling-house-quickly
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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...

Real Estate Agent: "Take the Money!"

Real Estate Agent: "Take the Money!"
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The old saying goes, “A bird in the hand is worth two in the bush.” Your first inclination might be to assume that this ancient wisdom is your real estate agent”s primary motivation in suggesting you take an offer for $10,000 less to sell your house this week rather than hold out another week and receive the full asking price. Maybe your assumption is right but, then again, maybe it”s not. Freakonomics dudes Steven Levitt...