When people talk about how to sell your house, they often think of those important things like kitchens, baths, cleaning up and putting cookies in the oven before the open house. But what often gets left un-talked about is the value of speed.
And if you want to know how to sell your house—fast—you want to talk to realtor Danny Griffin of A&E’s 60-Seconds to Sell. Along with his brother John, the Griffin brothers are high-stakes realtors turning the typical home sale technique on its head. They list a house at about half its traditional market value. This starts a feeding frenzy of deal-hungry buyers. They call it the “quick sale auction”.
They say it works.
You can see the action as it happens on 60 Seconds to Sell. (Saturdays at12:00pm on A&E). The trick is to get buyers’ attention and then let greed, desire and market forces take over. Once buyers smell a deal, they’re drawn to a two-hour, one-day open house and auction where the brothers start a bidding process (war?) and let the circling buyers feed with their checkbooks.
The technique infuriates some traditional realtors, but Danny says it works and susses out what the home would eventually sell for anyway, minus all the waiting. The biggest mistakes people make trying to sell their homes is reaching for a little more than its worth and not being motivated sellers. His in-it-to-win-it approach works by finding the true value of the home in the market. Danny also points out that being a ‘motivated seller’ means putting your house on the market clean and staged. If you can’t afford a professional stager, step back and look at your home through the eye of an artist. Neaten things up and keep pathways open.
What does this do if you want to know how to sell your house quickly? It creates a possible path to get the price you’d get anyway, without the carrying costs of a house that languishes for weeks and months on the market. It makes it possible for a homeowner to get cash in hand to move when they want to and get the new house they’re buying without someone else snatching it up from under them.
It’s a gamble. Have you got 60-seconds?
Watch this hangout with Danny Griffin and share your questions and suggestions below in the ‘Speak Your Mind’ box or send us an email myfixituplife@myfixituplife.com.
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Thanks for your write-up. One other thing is when you are advertising your property by yourself, one of the problems you need to be aware of upfront is how to deal with property inspection reviews. As a FSBO home owner, the key towards successfully moving your property as well as saving money with real estate agent revenue is information. The more you understand, the easier your property sales effort are going to be. One area in which this is particularly significant is assessments.
That’s actually a really interesting approach to selling a home. I can see how listing it for so cheap and basically having an auction for it would attract more potential buyers than listing it at full price would. It’d be really interesting to see what the final sale price for each of those homes actually ended up being compared to how much they’re worth.