Special offer

Price beats creativity?

By
Real Estate Agent with Keller Williams Realty

According to an Associated Press story today, many sellers today want to see their home marketed in creative ways, thinking that that will make the difference and get the house sold.

The creativity sometimes borders on insanity, as in the case of a seller in Florida who is reputed to have offered herself in marriage to some "lucky buyer," or a couple in Pennsylvania who offered to will the purchase price of the house back to the buyer upon their death.

More common incentives include cars, furniture, and other merchandise. In our area on the waterfront, boats are a popular recreation activity and some sellers have experimented with giving away a one-year membership to the Freedom Boat Club (about $6000 in value).

According to the AP story, however, it always comes back to price. Merchandise incentives and whatnot aside, buyers would rather have the cash to spend as they choose.

We've used some pretty creative marketing in our time, too ... and found that you can't make water run uphill, and you can't make buyers run to an overpriced house. Correct pricing comes before everything else -- otherwise, it's a waste of everyone 's time.

Bill Gillhespy
16 Sunview Blvd - Fort Myers Beach, FL
Fort Myers Beach Realtor, Fort Myers Beach Agent - Homes & Condos

Hi guys,  I think the creative stuff might help attract a buyer - but in the end the price will decide if we go to closing !

Jul 17, 2008 09:14 AM
Robert Machado
HomePointe Property Management, CRMC - Sacramento, CA
CPM MPM - Property Manager and Property Management

I agree, all the marketing in the world will not make a sale for something that is overpriced in most cases.  In cases where it works the misery may come in the form of buyers remorse.   Not a good recipe for a long career in real estate.

Jul 17, 2008 09:15 AM
Bryan King
Ascent Home Loans - Simpsonville, SC

I have to agree.  I have bought and sold a few houses in my time, and while some people admire the beautiful kitchen or the spacious bedroom, they admire the good price even more!!  Good luck in the future!!

Jul 17, 2008 09:16 AM
Stanley Barsch
Realty Executives Premier - Silver Spring, MD
Realtor, GRI - 240.882.8512

The value of the hosue is in the eye of the beholder.  Price is always the biggest issue, but if someone "has to have" that house, and it comes with someting a "little extra" it may just make that sell!  More and more people are marketing their places this way, and I don't see any of my buyers running to such places just because of the bonus prize for the purchase.

Stan Barsch

Jul 17, 2008 09:23 AM
DEBORAH STONE
Balboa Real Estate San Diego, CA - San Diego, CA

If a house is priced too high, but the Seller manages to sway the Buyer via "bribes", it will only come back and bite everyone in the butt via the "Appraisal", unless of course they have deep pockets and are paying cash, & value is not important. I say "dream on".All that one gets from overpricing a home is wasted time & angry clients.

Jul 17, 2008 09:28 AM