Home sale gimmicks?

Over the past fifteen or so years I’ve written a few articles about home sale gimmicks. And not surprisingly, it’s another year with a new real estate gimmick. In the past I’ve explained and debunked the effects on a home sale of various ploys such as under-pricing, creating buzz, throwing the block party open house, etc, etc, etc. And yet it just doesn’t seem to end. Instead of being honest and straight forward with a solid common-sense strategy, some real estate agents are just good at devising ploys to entice unsuspecting home sellers to list with them.

home sale gimmicks

This year’s shiny item is a nationwide “auction” site that is marketed to sell a home fast for more money. It is used in tandem with the MLS. This is how it works…

The home is listed as usual in the MLS with descriptions, photos and all the accoutrements. The home is simultaneously listed on the “auction” site. The MLS listing has the “list price.” Buyers and agents are redirected to the “auction” site for price and terms that are acceptable to the home seller. This gimmick strategy is sold as encouraging multiple offers on the home.  Agents make their offers on the site. The seller chooses an offer and goes under contract.

This sounds like the old tried and true MLS home sale listing with extra steps!

I get it though. The old tried and true home sales model is boring. Post the listing in the MLS with your price and terms. Post terrific photos. Maybe even add a floorplan and a video. Possibly have an open house. And this year (2023), with the average days on market being seven, select one of the multiple offers you’ve received and ratify the contract.

Do gimmicks get your attention? Do you utter some oohs and aahs? But does it really make sense?

In my experience, most home sellers want to sell their home quick and for top dollar. Research into some home sale gimmicks have concluded that it could actually harm your sale by either getting a lower net price, longer time on market, or worse – a lower net price and a long time on market!

For a solid result, stick with the tried-and-true home sale experience. Don’t rely on gimmicks that promise activity on your listing, higher sale prices, etc. Work with an experienced licensed real estate agent who can present a comprehensive and coherent home sale marketing plan.

By Dan Krell
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Disclaimer. This article is not intended to provide nor should it be relied upon for legal and financial advice. Readers should not rely solely on the information contained herein, as it does not purport to be comprehensive or render specific advice. Readers should consult with an attorney regarding local real estate laws and customs as they vary by state and jurisdiction. Using this article without permission is a violation of copyright laws.