Editor’s note: The following excerpt is from the Inman News blog. We invite you to leave your thoughts at the blog discussion by clicking here. What kinds of creative incentives are being offered in your market?
Wanted: Home Buyer — $1,000 Reward
A property flier in the San Francisco Bay Area contains the usual information on amenities and price — but the flip side carries an unusual appeal: “Find a qualified buyer … and receive $1,000!”
The flier also states, “Wouldn’t you like to have your friends or family live in your neighborhood and receive a little extra spending money?” Given that the list price of the home is over $575,000, it stands to reason that a friend or relative who buys the home might want to share in that $1,000, or would expect to negotiate down the price of the property at least $1,000 based on the willingness to hand out that sum to someone who is not directly involved in the transaction. It’s not clear from the flier whether the actual buyer or an agent representing that buyer would be able to claim the reward directly if there isn’t a third-party buyer-finder involved.
The “$1,000 REWARD” is subject to a restriction: Escrow must close on or before Nov. 30 in order for the person who locates the buyer to receive the money, which will be paid at close of escrow.
—Glenn Roberts Jr., Inman News
Inman Blog challenge: What kinds of creative incentives are being offered in your market? Click here to join the discussion.
