Do marketing gimmicks help sell real estate?

I've seen the $1 listing price, free cars, this free beer offer, and even a really out-there "I come with the house" once. (yes, believe it or not) But do these unusual offers really improve your chances of selling?

I guess the first question to ask is: what is marketing for? Really, the point of marketing is to draw attention to a product or service being sold. In this sense, using some unique or unusual marketing gimmick may actually help sell your property. Afterall, the more people are aware of it, the better chance that the right buyer will see it. There are some cautions, though.

First, doing something that has been done before (or overdone) will be less sensational. If you're not doing something unique, you are far less likely to get picked up and given coverage like the Karreman property got. And that is the real power of the marketing gimmick - free publicity through media attention.

Second, give serious consideration to whether this will impact a buyer's ability to get financing. $1000 of beer is more likely to be over-looked... but if you're offering a $20,000 car, a bank or mortgage company may well look at that as $20,000 that is not part of the house's value. ie. a $300,000 house with a $20,000 car included could be seen as a $280,000 house. If that happens, the buyers could find themselves trying to come up with an extra $20,000 to close.

Finally, gimmicks or no gimmicks, your property will need to be priced properly and prepared for showings, from general maintenance to more advanced staging. There is no point in drawing attention to a home that is obviously over-priced or does not show well. Feel free to use gimmicks, but don't rely on them exclusively.

If you have any questions about selling real estate, or real estate in general, please call me at 905-512-4069 or email Jeff@JeffSellsHomes.ca