I was just reading today about a couple in Illinois that was having trouble selling their house. So they offered an incentive of $1,000 of food and drink at the watering hole across the street. Genius! They started substantially getting more offers than they were receiving beforehand and the bar got some extra publicity out of it as well.
Now could they have discounted their house by $1,000 and achieved the same result? Financially, sure, but selling is not just about the dollar figure. Selling a house is about *marketing*. What they did was to think differently — to have fun with it. Unless you’re a distressed seller and need to sell your house fast, buying and selling a house should be an exciting event, so make it one!
Think of all the different ways you could add some extra flavor or zing to your house for sale if you’re not getting any quality offers. Can you do what the Illinois couple did and offer some freebies at a nearby establishment? If you live in Waikiki, how about a set of monthly gift certificates good for dining at various restaurants all within walking distance? It’s your own personalized Dinner of the Month giveaway. Can you give away a set of free kayak rentals in Kailua? UH football season tickets? Not only will you be supporting local establishments, but they may also be willing to let you post a flyer somewhere on the premises, further increasing your marketing and chances of selling.
What about product giveaways? Can’t sell your condo in Lahaina? How about offering the latest iPad or iPhone/Android? You could tack on a year’s subscription to Netflix — both the online and DVD options so they don’t have to choose. Is your Pearl City house a fixer upper? What about a $1000 gift certificate to Home Depot so your buyer can choose their own finishings?
Again, you could just as easily reduce the price by the same amount, but what’s more fun — dropping the price $2000 or offering the same amount in horseback riding lessons at Kualoa Ranch, a helicopter ride over the Big Island, a weekend stay in Princeville on Kauai’s north shore or a pair of tickets to Las Vegas on Hawaiian Air?? Obviously, the latter. Not only is it obviously unique and exciting, but the buyer is also about to get a story about buying your home — something they’re sure to want to share with all their family and friends.
If your property is listed with a realtor, make sure they’re on board with your plan — they should not only see the business logic behind it, but they should have fun with the idea as well. If you’re selling your home privately, then you have all the freedom in the world. Come up with something totally out of the blue and then get the word out (like a line to the Star Advertiser) and see what happens.
And be sure to come back here and write about your experience!