Market Spurs Inventive Sales Idea
Justin Wilcox wants to sell his home. But, he’s not so sure the traditional methods will work in this market so he’s attempting to try something different. He calls it a “reverse auction” - rather than having buyers bid up a price, the price will be set, then reduced on a weekly basis until someone pulls the trigger. But, he’s not giving the house away…there is a “reserve price”.
The starting price is $499,000 for this 1 story + basement, 2,995 sq ft, 4 bedroom home in Bothell. For more information visit Wilcox’s site: www.BothellCountdown.com.
See also: King5’s report
Don’t most decent real estate web sites let you watch a property, getting e-mail alerts when prices drop? Don’t most sane sellers drop prices gradually to attract interest, setting their own floor price?
Yup. It’s essentially different spin on the process. Though, this guy is selling FSBO so he doesn’t have the benefit of the MLS. His King5 interview was a great way to draw attention to the property.
That has to be the dumbest idea I’ve ever seen - sounds like a “regular” listing that’s over priced to begin wit…all you do on it is lower the price every 2-3 weeks anyways!!! In Austin Texas real estate, we just sell houses the ‘regular’ way.