LandInvestors.com Forums **Ask A Question** Selling on Ebay

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  • #1320

    Michel
    Participant
    Post count: 199

    Hello Everyone,
    I just bought the program a few weeks ago and still trying to get through the material. I tried another program and through some diligence was able to buy some tax deed properties(3 of them) right before i got this program. Wish i had waited because i could have got more bang for my buck. Anyway, my question is selling on ebay. I heard to post the auction on Friday, for 30 days, no reserve, I think? if there is no reserve do you risk the chance of getting under bid? Is there a DVD in the program can jump to that has this information so I can get these three properties sold as I work through the material?

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  • Luke Smith
    Moderator
    Post count: 1262
    ProAdvanced

    I like to sell on ebay starting at $1 and no reserve. Just like you(@gougou2016) are saying there is a chance that the bids won’t stack up. I have a strong belief in greed. People are greedy and don’t want to miss that one weird auction where nobody shows up. If the land is for sale for $1 and no fees someone will bid. Then someone else bids $2 and they outbid each other from there until your asset gets priced accordingly. More people research your property and more people watch it. Ebay blasts them with notices that keep them in the bidding.

    If you are hesitant then put in a reserve or start the auction at whatever number is your minimum price you must have to give it up.

    Steve advocates starting a 30 day auction at friday at about 9pm pst. What that does is ends the auction on a Sunday at 9pm pst. That is Midnight on the east coast. That is when there is the most traffic on the internet and on Ebay. You want people to be watching the end of the auction so they might up their bid.

    In my experience all the real action happens in the last 5 seconds of the auction.

    The last one I sold at auction tripled in the last couple seconds.

    You have to let it end to see what the real number is.

    To get an idea Steve advocates searching the “Real Estate” category of Ebay for the area your land is in. Select ended listings and or sold listings to see the old auctions and what prices they ended at.

    I also set some searches for the areas I am working so I get updates from ebay on new listings in the area. Then I get to see what they are selling for on there too.

    One thing I don’t want to do is get stuck with a bunch of land and end up paying taxes over time to hold it while I am marketing it for more than the market really wants to pay for it. I would rather move that stuff and learn from the market valuations then use the capital to go buy others. Price new buys accordingly. Ebay auctions allow me to have a definitive holding period. To me that is huge especially when you consider the compounding effect doing more deals like this can have over less time.

    John Graham
    Participant
    Post count: 8
    Pro

    Thanks for the tips on the timing of ebay selling. I wouldn’t have thought of it that way. Definitely doing it so that it generates the most traffic only makes sense. I think I will try ebay selling for the first bunch just so that I cut my teeth on a few deals to get into the hang of it. Thanks again

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