LIST WITH ME TO WIN A FREE CORVETTE ?

By
Real Estate Broker/Owner with people first...then business Ran Right Realty 636943 licensed to thrill

As we all know Real Estate is a dynamic and profitable experience with predictable outcomes when handled by traditional and conservative professionals. The outcomes still continue to be powerful because all that participate stand to gain. Often referred to as the largest transaction of ones life it demands a standard of interaction to give that predictable result. One mistake, error or mis-step can cost time and money.....and ...?

WHAT IF I UPPED THE EXPERIENCE?

I had a 1996 Corvette Collectors Edition I wanted to sell & at the same time I was soliciting listings in Real Estate. What if I combined the two? You list with me & that is your entry to win the Corvette. I put a value on the car & set the listings at ten to trigger the raffle. It was as simple as stated. I will sum it up as it looked

SELLERS DRIVE AWAY IN THIS WHEN YOU LIST YOUR HOME WITH ME

Selling your home? In addition to getting top dollar how would you like to drive away in this? To enter into this free drawing all you have to do is list your home with me. When I have the required 10 listings, you will be notified that the contest is activated. The winner will be announced when all 10 escrows close

DOES MY REAL ESTATE LICENSE COVER THIS?

As a licensed individual, we are held to higher standards than the lay-person. So I started to research this to see if it could be done without violating any rules. First off, contest rules differ for each state. I read what was required for California and didn't see any problems but it did enter close to the edge of it all but doable

CALIFORNIA DEPARTMENT OF REAL ESTATE LEGAL HOT-LINE

Called them twice. This source consists of volunteer attorneys that give free legal advice to Real Estate agents who are enrolled. The first attorney (I called twice) had trouble responding as they had never encountered this. They went from it can be done but I don't know for sure & left me to research this further

SECOND OPINION

This guy agonized over the question and really wanted to answer. First he said NO it cannot be done but when I challenged him in discussion, he wavered and said its possible. We explored the up and downsides and he left me with I wouldn't do it but you can and you will find out at that time. I knew it was up to me

THE TEN LISTINGS

What is the time frame on this? How do I procure the ten listings? How long will it take? What if I list and sell over the course of a year? What if someone challenged the contest was a good question. Perhaps they would want "contest proof" that it was held fairly? Well what is that? Also, I was prepared for peer pressure

MY FELLOW REALTORS

Who could compete with this offer? It does come across with the obvious to any client or principal and answers the question of: why should I list with you extremely well. I know my fellow Realtors would not let this go by without challenging it. Remember, this could take up to a year to consummate. Who can resist a free car? It even begs the question of: Fellow Realtors, what can you offer? Can you top this?

TWO BIRDS ONE STONE

FACT: I was planning to sell the car anyway. FACT: I was actively selling and listing. Why not combine the two? Well it became complicated and exposed me in ways that made me think. For instance, the statute of limitations in California is four years. That means people can sue you within that period if they want to

WHAT IF SOMEONE DECIDED TO CHALLENGE THIS?

Did I want to be the first test case for this subject matter? If found illegal that means criminal dynamics and brings my licensing into question. Civilly speaking, I could be challenged for authenticity, fair-play and a host of many charges that in the end I would have to prove. Why would someone do this to me?

THE REAL QUESTION

Why are you doing this? The answer is an interesting one to discuss. Giving away free prizes or a chance to win something is not new. You see it wherever you go. People respond to it and like it. Why can't I sell the car and solicit for listings separately like everyone else? Well the answer always leads to the cutting edge

IF THE DUCKS LINED UP

The car was worth as much as $15,000. Listings for a median value range of $400k times 6% = $24k x 10 listings = $240k maximum with a minimum of $120k if I cooperated with other Realtors minus the $15k value of the car leaves me with about $100k.  It can always be more too! In what length of time was a good question? But ducks can tend to do what they want! What then?

IF I PROCEEDED SEPARATELY

The listings would come. The car would get sold and life goes on with certainty. No muss, no fuss but also no adventure, risk and breaking through to a new concept that could have changed the way business is done in California Real Estate or could it have? I will never know because I didn't do it. Plain Real Estate is exciting enough

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Tags:
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Show All Comments
Rainmaker
1,102,614
Nick Vandekar, 610-203-4543
Long & Foster Real Estate Inc 610-225-7400 - Devon, PA
Tredyffrin Easttown Realtor, Philly Main Line

Interesting spin, maybe you can offer them a spin in the corvette when they list with you, let them taste what they missed.

Mar 11, 2019 08:17 AM #14
Rainmaker
2,595,280
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Nick Vandekar, 610-203-4543 ...you just upped the game. Well done & thank you

Mar 11, 2019 08:51 AM #15
Rainmaker
1,724,679
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, Blackstone Realty Group - brokered by eXp Realty - Kalispell, MT
The House Kat

You certainly did your due diligence in noodling through whether this was something to pursue. 

Mar 16, 2019 04:33 AM #16
Rainmaker
2,595,280
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Kat Palmiotti ...if was fun and informative

Mar 16, 2019 05:45 AM #17
Ambassador
2,030,399
Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

Richie Alan Naggar  I really liked that you called the Hotline and could not get an answer. In my state, it is not legal if I remember correctly sitting in continuing Ed. However, we do have enough stimulation without giving away cars in exchange for receiving listings. What an advertising frenzy it could bring on.   so glad Carol Williams included this in SCS  

Mar 16, 2019 07:48 AM #18
Rainmaker
2,595,280
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Hi there Hannah Williams ...thank you for your input. Best to you Hannah

Mar 16, 2019 08:45 AM #19
Rainmaker
2,221,544
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
New Hampshire Home Stager

Very interesting. I enjoyed the read, but disappointed in the end that you didn't do it so we don't know how it would have worked. Or not worked. 

All that said....I'm not a fan of such gimmicks and I wouldn't have done it either.

Mar 16, 2019 09:02 AM #20
Rainmaker
2,595,280
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Hi there Sharon Tara ...your opinion counts as you know Ms Transformation

Mar 16, 2019 09:43 AM #21
Rainmaker
258,412
John Henry, Florida Architect
John Henry Masterworks Design International, Inc. - Orlando, FL
Residential Architect, Luxury Custom Home Design

Having read all of the previous comments, obviously, the safe bet is to stay out of a legal entanglement. Too bad the attorneys could not tell you if it was totally legal.

But, this is a great idea on the first blush.  

Let's say it was legal.  Should you do it? Why or why not?

Does it demean your profession?  I don't know.

I think if you compare this to some high brow professional pro bono give and take it boils down to the same thing: I am offering a piece of candy to entice you to work with me.  That candy can be a free market study, a free consultation to see what needs to be done to a house in order to get full value, a free landscaping design, etc.

An attorney on the radio is offering a free consultation to go over a legal matter.

I am willing to offer a Schematic Design with no strings attached in order to expand my builder list!

Is your offer out of bounds?  It sounds like fun, and I am sure you would go through with it.  I guess the question in this case: what if one of your listings backs out or something?  Maybe the whole thing would require a convoluted contract to satisfy the participants?
Good idea though!

Mar 16, 2019 01:16 PM #22
Rainmaker
2,595,280
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Hello John Henry ...your analysis make sense. The premise is that if you are going to sell your home anyway how about that plus a chance to win this car? There are those that would say not interested, don't need a car or...? For those that are interested what do they have to lose is not the question but instead look what you have to gain...John, the future of Real Estate is under review. Who knows? This may become the next Real Estate "carrot"....

Mar 16, 2019 03:03 PM #23
Rainer
332,138
Dave Rosenmarkle
Highland Realty, Inc - Arlington, VA
33 years of providing fully satisfying service!

How many thousands of Realtors on Active Rain? Why not set up the contest for the car to go to the Realtor who provides the greatest number of relocation referrals over the next six months. In the event of a tie, you could use Skype and have your broker draw the name of the winning Realtor out of a hat!

Mar 17, 2019 12:01 PM #24
Rainmaker
2,595,280
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Hello Dave Rosenmarkle ...your creative juices are flowing Dave...

Mar 17, 2019 01:43 PM #25
Ambassador
4,425,459
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

Hi Richie:

Guess I am not a fan of gimmick marketing...glad you decided NO. Reminds me, though, of a listing years ago in Cardiff during the short sale era when the owner was selling his Maserati with the home.

Jeff

Mar 17, 2019 04:43 PM #26
Rainmaker
2,595,280
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Jeff Dowler, CRS ...I have a seller now who wants to throw in stereo sets if the price is right. When the smell of money hits the air...strange things happen Jeff

Mar 17, 2019 05:28 PM #27
Rainmaker
464,713
Graziella Bruner
NCS Premier Real Estate - Detroit, MI
Associate Broker - Serving Wayne & Oakland County

Wow, what a thought, I'm glad you didn't... Just sell it and be done, there's nothing like having something bite you in the butt later, no matter what...Your comment at the end is a true statement, it's a never ending story with us. Plain Real Estate is exciting enough.  

 

Mar 18, 2019 07:27 AM #28
Rainmaker
2,595,280
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Hello there Graziella Bruner ...your decent comment stands & thank you 

Mar 18, 2019 07:44 AM #29
Rainmaker
1,289,786
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

I like the "thinking out of the box" concept of this marketing, Richie Alan Naggar ... but in this litigious era, I worry that a final decision might not have gone your way.  Being a Lender, I KNOW this would be a huge "no no".  I'm glad you're letting someone else be the guinea pig on this idea ...

Gene 

Mar 18, 2019 12:14 PM #30
Rainmaker
2,595,280
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi ...out of the box is worth exploring.  However, I'm with you on being the first on this? I pass and thank you Gene

Mar 18, 2019 12:45 PM #31
Rainmaker
1,590,464
Georgie Hunter R(S) 58089
Hawai'i Life Real Estate Brokers - Haiku, HI
Maui Real Estate sales and lifestyle info

I'd be willing to offer a 1 week time share ownership in exchange for some listings.  Very low inventory right now and trying to come up with some creative ideas.

Mar 18, 2019 05:48 PM #32
Rainmaker
2,595,280
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Georgie Hunter R(S) 58089 ...I like the thought of it. May it blossom for you

Mar 18, 2019 07:20 PM #33
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Richie Alan Naggar

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