Real Estate advertising question?

Question

I"m the only realtor in my area that is offering $3,000.00 cash back for closing cost, on me. I have not received a call or e-mail. Do you think people think there is a scam behind it?

Answer 1

That's an awesome deal you're offering, but maybe it's a little too awesome. People might think that there's a reason why you have to offer such a big cash back, such as really high fees or poor customer service. When I see that, I wonder, "well, if he's going to give me back $3000, then how much am I going to have to pay him...because I know he's making a profit in there somewhere."

But that's still a great deal you're advertising. Maybe you're not getting any calls because of where you are advertising. I work for a register tape advertising company that works with 10,000 stores in the US, Canada and the UK, and I have a realtor client who is advertising a promotion where he will give $500 to anybody who gives him a referral resulting in a house purchase or sale. He has the whole town trying to sell houses for him!

Have you ever thought of advertising in your local grocery stores? It's a great way to reach virtually every household in your area, and at a fraction of the price of newspaper or direct mail advertising, although my clients are seeing the same if not better results. If you have any questions, or would like more info about this type of advertising, please send me and email.

Good luck!

Answer 2

No, probably not. I can tell you from experience, that print advertising doesn't work, even offering money back. I've been in the business nearly 20 years and in the past 2 1/2 years I've had to return to doing marketing like a newbie! And most of it doesn't work. It's hard to call people, due the DO NOT CALL list. So I watch expireds, beat up my past clients alot and practice the secret. It's been a slow Spring, but I have one PA written that will probably go for to close. So good luck on anything you might procure from your tools. Oh, and offering to purchase a Home Warranty can be a good tool to use with people when they come thru your open houses and aren't contracted to another agent.

Answer 3

I have never had an advertising problem since I started using talking house transmitters. Sellers love them and cars passing cant resist stopping to hear the homes ad over their car radio. You might try one and see if that helps you. As for a cash back incentive, the jurys out on that one. some think its built into their price and others think its great. Many will question the home as they arent buying the rebate but the home. They think why such drastic measures, whats wrong here. I would say offer a lower rebate as a thank you for using me as your agent or book them a 1,500 cruise as a closing gift. Attach the rebate to you instead of the house.

Answer 4

I was offerring $5,000 and I didn't get a client that way. The impression I got is "why would you need to do this?".

What works for me is to find a home on the MLS that is a great value and advertise it. In my advertisement, I would list why I think this home is a great value. I then would state "mention this ad and get $5,000 off your closing cost".

That worked for me, even for 2 million dollar homes (of course, I didin't mention 5k for those homes!).

Regards

Answer 5

I am currently looking for a home, and I don't think your offer is a scam. I think you are desperately trying to make a sale in this declining market.

Answer 6

Why would people it is a scam , do they just trust Realtors a lot??

http://www.breakingbubble.com/
I Guss not

Answer 7

They know that your prices on the property will not be able to be negotiated very well with your add on extra. You need to show them that this is simply not the truth and steer them away from their uncertainties.