First of all the nodiscount method is not an auction as many have alluded to. Get as many buyers in one place as a possible in 15 days and get them to make offers. The 5 day method is an auction so offer what you are comfortable with. The two methods are from opposite ends. Be aware that if someone can’t sell using the nodiscount method and strategies most of the creative strategies discussed on this board won’t work as the method is not one method but a checklist of many.
As I have mentioned in a different post people using either of these methods are not the motivated sellers that investors want.
If you must buy one of these properties go back after the deadline.
I’m curious what some of the veterans here do to beat sales using methods like nodiscount.com and 5 day method? I mean how can you still get a good deal using faced with the situation? Thanks
Just because someone is auctioning their property, doesn’t mean that they’re motivated. Look for motivated sellers instead. You’re wasting everyone’s time trying to “beat” someone’s selling method. If you gotta “beat” a system try counting cards at blackjack.
nodiscount selling system is to not let the seller get his way. Make a discounted offer and pray no one else shows up. It’s a little tricky since everyone will be making offers for different terms, bait, gambits,etc…
You can beat the 5 day method with terms. People using the 5 day method are your typical Joe Fizzbo looking for the easy way out with top price. Go back on day 6 and bid below the starting price. Most will entertain any offers after a failed orchestrated open house.
No discount sellers are more calculated with a 15 day cycle. A lot can happen in two weeks. You might be able to shake up some sellers with a low offer contingent on acceptance in 3-5 days but that’s not likely considering offers are sealed for 12 days.
Try calling after day 15 with a low offer. You never know if you don’t try.
You can do as someone else suggested and find real motivated people. Motivated home sellers are not going to read a 200 page book on 5 day method and they’re not going to pay $200 to learn the nodiscount method.
You won’t have much leverage against nodiscount sellers as the system is not a one shot method but a combination of many into one.
If you are determined to “beat” the 5 day method call back on day 6 and 9 out of 10 times the house will still be available.