Going Gets Tough, Seller Get… Stranger
We’ve seen some strange sales incentives in this down real estate market, including offering one’s self in marriage with successful close of escrow as well as putting one’s home on Ebay.
These strategies get points for creativity, but do they work? One Michigan owner auctioned off a home on Ebay, only to then receive a high bid of $1.75. The winner plans to try to sell the home herself now– hopefully not on Ebay.
Here are some more confusing strategies:
A seller offering a $2000 “finder’s fee” at close of escrow. So, if I find a buyer for this property, I get the money; the buyer gets no incentive. Um…
An investment/mulit-unit property offering a mystery incentive: tiny font print proves too small to read. Must follow nonending trail of links to uncover the prize. More video game than home-for-sale ad.
Builder incentives: with the slowdown on buying, new construction is growing cobwebs. Building companies offer now everything from a trip to Tahiti to a wide-screen TV. A price reduction might be more enticing, but then, what do I know. I’m just a potential buyer who likes to read more than watch TV. Tahiti would be nice though, I admit.
Okay, your turn: In this crazy buyer’s market, what’s the strangest incentive you’ve seen lately?
mrbogue said:
Awesome. Get a $5000 2 week trip to Tahiti, and on your way back enjoy $5000 less equity in your new home.
October 1, 2008 7:55 PM
Anna said:
so true, Mr. B! Give me a better asking price: I’ll take myself to Tahiti!
October 2, 2008 1:09 AM
Sara J said:
those mopeds they were giving out with lux condos made me laugh. They were so desperate to sell a “city lifestyle,” they threw in that cliche “cool urban person alt transportation” deal. So many people I know that were in the tax bracket needed to buy one of those condos would not be caught dead on a scooter!
October 2, 2008 9:11 AM
F said:
i recall free food being offered at one of the soma places- like chef cooked dinners for an indefinite period of time.
weird combo, that
October 2, 2008 4:23 PM