Thursday, April 27th, 2017

Sold in 3 Days?

Everybody knows it can be a P-A-I-N in the derriere trying to sell houses on the retail market right now.  Supply and demand is NOT in our favor, and in many cases last month’s wholesale price is the new retail ARV.

If you can feel me, then here’s something you’re going to want to kiss me for.

In this video, my buddy Shaun walks (and in some parts flies 😉 ) you through a brilliant, insider strategy he’s been using lately to sell 90% of his houses to hungry buyers in only 3 days.  In fact, in many cases he’s got a frenzy of buyers scrambling to out-do each other.  How’s he do it?  Find out now, and take notes.  This is something you can implement on your own deals immediately after you watch the video.

Also, you get to see him fly to the house in a helicopter. And that’s pretty cool too. 😉

I originally released this as a “thank you” for registering for my big webinar jam session with Shaun. That’s all done now (replay is here for a limited time in case you didn’t catch it), but it seems a bunch of folks just didn’t end up getting this video for whatever reason. Which is why I’m posting it here!

Watch, learn and enjoy…


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Got comments?  You knows I loves ’em!

  • gary cooper in dallas

    That was perfect round robin! I live in Dallas, this is where I can (practice) what you did. I’m moving to Los Vegas in December 2011. I’m want to go there and do the round robin thing with those house that sell for one million up. I got a realtor there right now sending me the re page of that area. All the houses are 1 to 6 m.
    Thanks for a great idea. Did you have to hire a home stagger? Gary Thanks! by the way that flying dill is what I always wanted to do!

  • Savvy-If you do the work you deserve the bucks. Good job.

  • Polcatrep

    I have heard of the ‘Round Robin’ strategy to sell a house. However, I love the twist that you put on it!

  • Sickofthebullshit

    Why do people want to play these games? Take the first qualified person that meets your price.

    Anyone that can get financing has their PICK of houses to choose from.

    You bought it for 90k and sold it for 260k and continued to try and squeeze the bidders for a few more bucks?

    What happened to all the talk about helping others and having “enough”?

  • You’re missing the whole point there, partner.

    You’re right that anyone who can get financing has a ton of options on houses to buy…and that’s the whole problem with selling a house right now…it’s a buyers’ market and seriously challenging to get your house the attention it needs to sell in any reasonable timeframe.

    This tactic is about creating a controlled environment that extracts from the market place as many qualified buyers as possible, as quickly as possible. Then uses the psychology of competition and fear of loss to extract the best possible price from them. Also gives you backup buyers — which can be pretty important right now, being that qualifying for a loan is tougher than it’s been in a long time.

    So you can have your “just take the first qualified person that meets your price” approach. Meanwhile I’ll take the “sell my house faster and for more money” approach.

    As for your “What ever happened to helping others and having “enough”?” comment…dude…seriously? You’re basically saying there’s a moral limit on profit itself. So long as everyone’s getting a fair deal (and they are) then I have no problem negotiating for the best possible price. And you shouldn’t either. No one’s getting shafted here…any more than any other for-profit transaction.

    But feel free to run your real estate biz as a non-profit if that makes you feel better.

    Thanks for commenting…

    …jp

  • Tiredofthebullshit

    There is a big difference in running as a not for profit and trying to squeeze a few dollars more out of buyers when you are already making 150k. The calling the other bidders and trying to get them to bid a few dollars more when you already have your price doesn’t sound like something Jesus would do.

    The auction method is fine. It is that last bit that doesn’t sit well with me.

    Come on, jp, don’t act like you don’t see this.

    I am just tired of gurus in general but especially the ones who try to make it sound like they are above the others with their lifonaire teaching and all the while they promote stuff like this where it seems there is never “enough” for them.

    Just an opinion. That is what the comment section is for and I appreciate you letting me express it.

  • How low did you price the house for to make people excited?You obviously had a big spread and could probably price at where you would break even and people would still be crazy excited about it. My deals are mostly moderate rehabs where I use hard money so I typically do not have such a large spread.I’ve done a Round Robin auction but not on the MLS. I placed 60 bandit signs (Newly Remodeled home, $39,900 or best offer, will be sold to high bidder Sunday Night, 555-5555) around the neighborhood priced at about half of what I wanted to get (less than I even owed). I got about 80 calls in a week and about 30 groups came to see the house on the weekend open house (Sat & Sunday 10a-5p). About 15 placed bids. I did the round robin Sunday night and got a high offer of $77,000. (I wouldn’t have accepted less than $68,000). The problem was getting the buyer to sign a contract. The top bidder flaked out, then the second bidder at $75,000 strung me along for a week before flaking out, the third place person was at $68,500 and they tried to negotiate the price to $60,000 which I did not accept. I listed the house on MLS and got an offer of $75,000 in about 2 weeks (ended up being $69,000 after commissions and concessions).The problem with the method I used was that none of the interested people had been looking seriously at other houses and had no idea how much anything was worth. They also got cold feet after the initial excitement of the auction wore off. Serious buyers have realtors and use the MLS.Where would you recommend listing the house for in MLS using this method? Half of what you think its worth? I know the price needs to be low enough to make it a no-brainer steal but not too low so that people think there are problems or that it doesn’t appear in the realtors search criteria. I’m listing a house in 2 weeks and would love to use this method. Just need a little guidance on the listing price. Thanks!

  • Just watched the video again. You priced it on the low side of the comps.

    Looking forward to trying it at the end of the month.

  • Anonymous

    hello, i love your approach. and will try it next week. will be sharing my comments upon result. however, i think the most difficult part is to document and practically take the deposits from bidders. we do not have MSL, just various real estate websites and portals we list and advertise…. i liked Beau Kriedermann concerns. Good luck!

  • Shaun McCloskey

    Tired,

    It sounds like I may have struck a nerve with you regarding my approach. The intent of this process was not to suck every dollar out of every deal. I still sold the house far below market value. The whole point of this method was to create excitement, even MORE excitement than today’s market would typically call for.

    There’s a reason that there were so many people at the house during the first showing and it doesn’t have anything to do with whether or not I am a nice guy. It also doesn’t matter whether or not I paid $95K for the house or if I would have paid $300K for the house and took a loss. People were there because the house was a great deal. People bid on the property because it was the nicest house around for the money. The fact is, once they were there, they fell in love with it. It was good marketing that got them there, and the marketing in this case was simple. Get them there with a cheap price. Then let them pay whatever they’re willing to offer to get the house. No one will put in an offer on a house unless they fall in love with it. Your job as an investor is to get them to fall in love with it. They’re not going to fall in love with it unless they actually get to SEE the house. That’s why this method works so well.

    By the way, I had many conversations with the people that bought the house. They absolutely love it and feel that they got the deal of a lifetime. They got in touch with me about a month ago asking if I by chance, had any other properties just like that one in the same area. It turns out, the wife’s brother wants a house “just like this one” and is ready to purchase. Unfortunately, I didn’t have one at the time to sell to them, but if I did, they would have bought that one too.

    Sounds to me like you’re upset that I was able to make such a profit. Let me ask you this. Would you have felt the same way about this process if I was into the house for more than my asking price and was losing money? Why does what I purchased a house for have anything to do with what it’s worth? If you won a brand new Ferrari and got it for free, if you wanted to sell it, should you have to sell it for $5,000 when it’s worth $300K to someone willing to pay it?

    I’m not sure I get your logic, however, I’m also not surprised by it. There’s a lot of people that think that people who make a profit are doing something wrong or bad… Perhaps you’re upset because you’ve never made as significant of a gain on a property before because you may feel it’s not right to make so much money on a deal. Perhaps you think I took advantage of someone… I don’t know. What I will tell you, however, is that the property still sold at a bargain price and was, in fact, a great deal for the buyer. And I feel great that I was able to offer up such a great property and make a nice profit during the process.

    Shaun McCloskey

  • Shaun McCloskey

    Yes, we stage every property possible in today’s market. It’s almost a MUST to beat out the competition.

  • Rodneyschupp

    hi shaun excited to attend the camp for $197.00;) but cant find webpage callwithjp.com? is there a password? please help….Thanks Rodney

  • Dan

    Hey JP, I have Shaun’s old course. Is that course still any good to get started in shortsale or is it outdated? Also, I just found out about his recent bootcamp for 200 bucks from a friend. Anyway I can still get a hold of that bootcamp? I know that the bootcamp is done with, but any of it on dvd or a new course coming out soon? I want to get started in shortsales and make some money.

  • Shaun, I understand your rationale in staging, as you need every advantage possible in this market. However, my experience with staging has been mixed. Price is still king. I have done the full staging with furniture and also the light staging with just some pictures on the walls, flowers here and there and easy stuff like that. I have found that the light staging is more bang for your buck.

    Although the full staging makes for nicer pictures and showings, it is still the house and the PRICE that make or break the deal.

  • Liz

    Hey JP, I just have a question what contract do you use when performing a “Subject To”?

    Thank you:)

    Liz
    intriguing.homes@live.com

  • Hi, Liz. I don’t do Subject To deals…I find them too risky and have never found it an easy sell. My first and last one was somewhere around 2001 I think and honestly I haven’t a clue what contract I used. :-/

  • Hey, what happened to the person that was Sick and Tired?

  • Shay

    I can’t wait to try this with my next listing!

  • Shay

    I can’t wait to try this with my next listing!

  • noe

    Hello Shaun,
    Great video with lots of good ideas.
    Question: How can I find sellers with IRS liens? and How to negotiate to get the lien release?

    Thanks in advance,
    Noe Rodriguez
    noe9595@gmail.com

  • Sometimes it’s just how you think about it. When I look at something I think – how many hours do I have to work to get that? And how many hours would it take to do it myself? Thanks – good video.

  • amarquez808

    would love to know if this is still being used in todays market?  if not, how has it changed?

  • Amarquez808

    I don’t know if you still read this, but I would love to know if you are still using this strategy in todays market, and if not, what is working for you?

  • jay

    I had over 1000 people attend one of my round robin auctions. it was a 3 day event. it is a amazing process. yes it was done in a down market. i video recored the whole process.

  • Nice, jay! Got the video online somewhere? Would love to take a look.

  • jay

    I havent edited the taping of the Auction yet. Dan Auito ran the Auction with me, I’m sure you know eachother. I’ll send you a copy once its edited. A round robin auction is all marketing and networking. You can build a massive buyers list in one weekend. I did one event and taped it when there were 30 people sitting with lawn charis in the drive way waiting for me to open the door. It can be a rush.

  • Yes, I know Dan! Tell him JP says hi. And I’d love to see your video whenever you have it ready. Did you follow someone’s specific round robin blueprint, or just follow Dan’s lead? There’s a few variants of the model out there I think.

  • jay

    I will Let Dan know. I worked with Chris Krimitsos and I coached his students. He switched to social media and gave me the rights to the course. Ive since made some changes in the process. I guess you can say I’ve created my own process. I coached Dan and we have done them together . I started doing 5 day Events them made a switch to 3 day getting 900 to just over 1000 people. I was a lot of trial involved. I know the most common way taught is a 7 or 6 day auctions. I’ve done them have found I’ve done more work to get the same result based on how it is set up. I recalled i counted my phone calls on one of my auctions and got 127 in a day. My partner at the time i assume he recieved the same. Round robine Auctions has changed my approach as a real estate wholesaler.

  • Hey, Jay…can I interview you about it? For an upcoming REIology podcast episode?

  • jay

    That would be great. I”ve done some local speaking. I Founded Citrus County REIA. I also spoke at a TBREIA Bootcamp and I was the Headline as the Last Speaker for Round Robin Auctions. We shall talk and look forward to the Podcast. Thank you