Deal of a Lifetime?

"Owner Stakes His Life On Selling Home In Wisconsin!"

That was the headline in the April 4, 2008 edition of the Minneapolis Star Tribune.  The article tells the story of Bob Fanning's efforts to sell his 5,600 square-foot home with a most unusual selling perk.

The home is listed for $498,000, and if you buy the home, you will be named the beneficiary on a $500,000 10 year term life insurance policy.  Fanning is 69, so if he dies by age 79, your new home will have cost you nothing. 

Think he's getting his listing noticed?  You bet he is - and he's getting it noticed nationwide as several news services have picked up the story.  All over the country, as home prices are declining and foreclosure rates are climbing, sellers are becoming increasingly creative in their offerings.

In many areas, simply going to open houses can land you nice incentives like free bottles of wine, meals, entertainment, free gas, shoeshines, and show tickets.  Buyers are being offered kitchen upgrades, motorcycles and cars, lawn care, maid service, dental and orthodontia services, tuition credits, court-side season tickets to sporting events - you name it, somebody is throwing it in to get their listing noticed.

In this area, the Puget Sound real estate market has remained strong, especially relative to the rest of the country, so you're not seeing the frenzy of such offerings around here.  But this article has two implications for you, especially if you're currently trying to sell your home:

1)  Many potential home buyers are reading about these purchase incentives and hearing stories about how desperate sellers are these days, and they start their home shopping under the assumption that our local market's sellers are desperate too.

2)  Don't underestimate the value of quirky selling incentives with your own offers.  Putting something unusual out there as an incentive will help your listing stand out, get it noticed by more potential buyers, and help you sell it faster.  (And don't be afraid to alert the local media about your strange offering - real estate topics are hot, and these reporters want your stories to tell.)

And as always, I am always happy to help you put together effective listing strategies or help you create a buying strategy that works best for you.